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Oil climbs, stocks yo-yo as US bans Russian crude imports
3/8/22 at 12:02pm
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OC Register
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almost 4 years ago
By STAN CHOE NEW YORK (AP) — Stocks yo-yoed, oil prices climbed and the price of nickel surged so much that trading for it was shut on Tuesday, as the U.S. banned imports of oil from Russia and the economic fallout from its invasion of Ukraine kept rocking markets. After President Joe Biden’s announcement of the Russian oil ban, the price of a barrel of U.S. crude rose 3.6% to settle at $123.70. But oil prices did not climb as high as they did a day earlier, when worries flared about a possible ban and U.S. oil’s price touched $130.50. The U.S. ban on Russian oil imports is the latest move by governments and companies around the world to squeeze Russia’s finances following its attack of Ukraine.
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https://www.ocregister.com/2022/03/08/oil-climbs-stocks-yo-yo-as-us-bans-russian-crude-imports/
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