Overnight Market Brief – 7 March 2022
Markets remained volatile last week but exhibited some signs of resiliency, as positive economic readings helped partially soothe escalating geopolitical fears. The war in Ukraine is, however, showing up more acutely in certain areas of the market, most notably commodity prices, inflation and interest rates. Oil prices spiked as high as $116 per barrel last week, a level last seen in 2008. Uncertainties over global crude and natural gas supply have risen amid war in Ukraine and escalating sanctions on Russia.