A possible Western embargo on the Russian energy sector has caused oil and natural gas prices to soar, as well as the fall of stock markets around the world, which fear a slowdown in the world economy.
The price of a barrel of North Sea Brent approached USD 140 (R$ 710) on Sunday night, very close to the all-time record USD 147.50 (R$ 748) of July 2008.
This came after US Secretary of State Antony Blinken said Washington and its allies were debating a ban on Russian oil and gas imports.
This Monday (7), the price of natural gas once again hit a historic record in the European market, with a rise of more than 60%, at 345 euros (R$ 1,911) per megawatt hour (MWh). Russia, which can also be punished in this sector, is responsible for 40% of European gas imports.
At the same time, gold — a safe haven in periods of uncertainty — surpassed the mark of US$ 2,000 (R$ 10.1 thousand) an ounce (28 grams) for a few minutes.
After registering drops of 4% to 6% on Friday (4), European stocks started the week with negative numbers. At 9:30 GMT (6:30 GMT), Frankfurt was down 3.11%, Paris was down 3.33%, Milan 3%, London 1.58% and Madrid 3.32%.
Asian stock markets close Monday (7) with significant losses due to the consequences of the conflict in Ukraine. Tokyo closed down 2.94% to its lowest since November 2020, while Shanghai lost 2.17% and Hong Kong fared even worse at -3.87%.
Although Russian oil and gas are not directly affected by the sanctions, at the moment they find virtually no buyers, which severely affects world supply.
“Unless a ceasefire takes place, there is nothing in prospect to stop the rise in oil prices”, says a statement published by the ‘National Australia Bank’.
“Rising oil and commodity prices will likely force European economies to ration consumption and this will weigh on the economic recovery and corporate profits in 2022,” predicts Ipek Ozkardeskaya, an analyst at Swissquote bank.
The IMF (International Monetary Fund) warned that a worsening of the conflict in Ukraine would have “devastating” consequences worldwide.
Metal prices continue to rise: aluminum and copper registered historic prices on Monday (7).
At 8:00 am GMT (5:00 am BrasÃlia time), the ton of aluminum for delivery in three months reached US$ 4,073.50 (R$ 20,600) on the London metals market (London Metal Exchange, LME).
A few hours earlier, the ton of copper registered the historic price of US$ 10,845 (R$ 55 thousand), before returning to US$ 10,777 (R$ 54,6 thousand) at 8:00 GMT.
The nickel price did not surpass the 2007 record, but recorded an increase of 25%, to US$ 36,800 (R$ 186 thousand).
In the midst of the crisis, the euro also registered a devaluation against the American currency, trading at US$ 1.0867 (R$ 5.4).
The Russian ruble fell to a new record low on Monday (7) in international trade, with local markets closed until at least Wednesday (9).
The ruble weakened to 133.5 per dollar after closing at 121.037 on Friday, according to Refinitiv data. On the EBS trading platform, the ruble even dropped to 141 per dollar
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