The stock market is mostly roses and oil prices holding a relatively stable Wednesday because the economic sanctions imposed on Moscow over the Russian-Ukrainian crisis are considered less hard than expected.
Brent crude reached $ 96.73 per barrel, after surging a seven-year high of $ 99.50 Tuesday at fear of disruption to the Russian oil supply.
Other commodities also reached a multi-year peak in the fear of all-out war.
“The market atmosphere is not cheerful but softer sanctions than feared somewhat helpful,” Swissquote analyst Ipek Ozkardeskaya recorded Wednesday.
The trading floor remained on the edge, with Ukraine mobilized its military reserves and urged its citizens to leave the Russian region when Moscow sharpened its demands, raising worries of all-out war.
“There are not many things in the way economic data to provide fresh encouragement, which means investors may continue to focus on the main headlines coming out of Russia and Ukraine,” said Thinkmarkets analyst Fawad Razaqzada.
Russian President Vladimir Putin has opposed the international sanction avalanche to place his troops on standby to occupy two rebel areas in East Ukraine.
Sanctions include steps against Russian banks, cutting the country from Western financing by targeting Moscow’s country debt, and punishing oligarchs and their families which are part of the circle in Putin.