{"id":62133,"date":"2022-03-07T07:33:14","date_gmt":"2022-03-07T12:33:14","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62133"},"modified":"2022-03-07T07:33:14","modified_gmt":"2022-03-07T12:33:14","slug":"all-hell-breaks-loose-on-russian-oil-embargo-fears-futures-stocks-plunge-as-oil-soars-to-139-gold-hits-2000","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62133","title":{"rendered":"All Hell Breaks Loose On Russian Oil Embargo Fears: Futures, Stocks Plunge As Oil Soars To $139, Gold Hits $2,000"},"content":{"rendered":"<header class=\"ArticleFull_header__Eyn7V\">\n<h3 class=\"ArticleFull_title__MEgbb\"><a href=\"https:\/\/www.zerohedge.com\/markets\/all-hell-breaks-lookse-futures-stocks-plunge-oil-soars-139-gold-hits-2000\">All Hell Breaks Loose On Russian Oil Embargo Fears: Futures, Stocks Plunge As Oil Soars To $139, Gold Hits $2,000<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__t4rGu\">\n<div class=\"NodeContent_body__6iJOI NodeBody_container__hI8PI\">\n<p>All hell is breaking loose in the Sunday evening session where S&amp;P equity\u00a0futures and Asian markets tumbled, while havens such as sovereign bonds and gold soared amid fears of an\u00a0inflation shock\u00a0in the world economy as\u00a0oil\u00a0soared on the prospect of a ban on Russian crude supplies.<\/p>\n<p>Emini futures were down 1.6% as of 9:00pm ET, while Nasdaq 100 futures plunged 2% and European futures were down 3%.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/ES%202022-03-06_21-19-55.jpg?itok=ZxQo8_GX\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/ES%202022-03-06_21-19-55.jpg?itok=ZxQo8_GX\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/ES%202022-03-06_21-19-55.jpg?itok=ZxQo8_GX\" alt=\"\" width=\"500\" height=\"315\" data-entity-type=\"file\" data-entity-uuid=\"4ad2e277-68c1-4232-b011-37ab60ef21cf\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<div class=\"AdvertisingSlot_desktop__lDlm4 AdvertisingSlot_tablet__MndqJ AdvertisingSlot_mobile__7vsEF AdvertisingSlot_placement__b8TLC AdvertisingSlot_align__800B1\">\n<aside id=\"in-content-video\" class=\"AdvertisingSlot_verticallySpaced__MBqFK\" data-google-query-id=\"CLGzneGAtPYCFRpXDQodfFQI2A\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0__container__\">\n<p>Meanwhile, the stock MSCI Asia-Pac index\u00a0was on course for a\u00a0bear market\u00a0&#8212; a drop of more than 20% from a February 2021 peak, while Hong Kong&#8217;s Hang Seng index plunged more than 5%, and below the March 2020 low&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/hang%20seng%20HSI.jpg?itok=SMfNaBqH\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/hang%20seng%20HSI.jpg?itok=SMfNaBqH\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/hang%20seng%20HSI.jpg?itok=SMfNaBqH\" alt=\"\" width=\"500\" height=\"231\" data-entity-type=\"file\" data-entity-uuid=\"d7458f59-d376-41c4-987a-a614b951c8d6\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>&#8230; as Brent oil briefly hit $139 a barrel at the open when stops were hit, and West Texas Intermediate $130 a barrel, before trimming some of the rally&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/brent%203.6.jpg?itok=ULInkX2M\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/brent%203.6.jpg?itok=ULInkX2M\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/brent%203.6.jpg?itok=ULInkX2M\" alt=\"\" width=\"500\" height=\"231\" data-entity-type=\"file\" data-entity-uuid=\"d964bbff-9360-4967-9cfb-84f4200b783d\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>&#8230; even as Jen Psaki earlier tweeted a humorous tweetstorm about how the US plans to achieve energy security in 9 &#8220;specific&#8221; steps:<\/p>\n<div class=\"twitter-tweet twitter-tweet-rendered\"><iframe id=\"twitter-widget-0\" class=\"\" title=\"Twitter Tweet\" src=\"https:\/\/platform.twitter.com\/embed\/Tweet.html?dnt=false&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1500587978795757569&amp;lang=en&amp;origin=https%3A%2F%2Fwww.zerohedge.com%2Fmarkets%2Fall-hell-breaks-lookse-futures-stocks-plunge-oil-soars-139-gold-hits-2000&amp;partner=tweetdeck&amp;sessionId=209f5f96a7a1efe5e24e497c89032f4c074da426&amp;siteScreenName=zerohedge&amp;theme=light&amp;widgetsVersion=2582c61%3A1645036219416&amp;width=550px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\" data-tweet-id=\"1500587978795757569\"><\/iframe><\/div>\n<p>The catalyst for the sharp move higher in oil was the earlier\u00a0<a href=\"https:\/\/www.zerohedge.com\/energy\/us-active-discussion-banning-russian-oil-imports-blinken\">commentary from Secretary of State Antony Blinken\u00a0<\/a>who said the U.S. and its allies are looking at a coordinated embargo following Russia\u2019s invasion of Ukraine, while ensuring appropriate global supply.<\/p>\n<p>It is the latest spike in energy prices, which are now dangerously close to levels last seen in 2008 just before everything collapsed, that threaten to spark a global recession, something we have been warning about for months, and is a risk that is sending tremors across markets.<\/p>\n<p>The risk carnage sent funds flowing into safe havens: in one of the clearest signs of risk-off markets, the swiss franc just broke below parity with the euro for the first time since the SNB depegged back in January 2015, even though a governing board member of the Swiss National Bank said it\u2019s ready to\u00a0intervene\u00a0to tackle rapid strengthening.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/aside>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>All Hell Breaks Loose On Russian Oil Embargo Fears: Futures, Stocks Plunge As Oil Soars To $139, Gold Hits $2,000 All hell is breaking loose in the Sunday evening session where S&amp;P equity\u00a0futures and Asian markets tumbled, while havens such as sovereign bonds and gold soared amid fears of an\u00a0inflation shock\u00a0in the world economy as\u00a0oil\u00a0soared [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[1849,374,588,694,821,862,4318],"class_list":["post-62133","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-financial-markets","tag-gold","tag-oil","tag-russia","tag-ukraine","tag-war","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62133"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62133\/revisions"}],"predecessor-version":[{"id":62134,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62133\/revisions\/62134"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}