MARKET WRAP: Surging crude prices dent JSE
Oil extends Tuesday gains above $100/barrel on news of declining Russian output, fuelling inflation concerns
13 April 2022 – 19:30
The JSE closed weaker in line with European stock markets on Wednesday, driven by inflation concerns on the back of rising oil prices and the prospect of protracted war in Ukraine.
Brent crude extended Tuesday’s gains and was last trading at $107.57 a barrel, up 2.8%, after data showed Russian oil and gas condensate production has fallen to 10-million barrels a day in the wake of sanctions imposed after its invasion of Ukraine…
Source: businesslive.co.za
