Oil climbs, stocks waver as US nears ban of Russian crude

Published March 8, 2022 9:08 AM

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Stocks around the world swung on Tuesday, oil prices rose sharply and the price of nickel surged so much that trading for it was shut in London, as the economic fallout from Russia’s invasion of Ukraine keeps rocking markets. The S&P 500 was virtually flat in early trading after swinging between gains and losses Gains for ExxonMobil and other oil companies benefiting from higher crude prices are weighing against losses elsewhere. U.S. oil prices rose toward $130 per barrel, and the international standard for crude topped that level, as President Joe Biden has decided to ban imports of Russian oil.

Article Topic Follows: AP National Business

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