Equities mostly rose Wednesday and oil prices stabilised as investors tracked developments in the Russia-Ukraine crisis after world powers imposed less harsh sanctions on Moscow than feared.
However, trading floors remain on edge after Russian President Vladimir Putin ordered his forces into Ukraine to secure the self-declared Donetsk and Lugansk rebel republics, with Western leaders warning that a war could break out imminently.
The measures included moves against two Russian banks, cutting the country off from Western financing by targeting Moscow's sovereign debt, and penalising oligarchs and their families who are part of Putin's inner circle. "There's still considerable risk that oil prices may surge above $100 a barrel" if the situation escalates, said Vivek Dhar at Commonwealth Bank of Australia."Oil markets are particularly vulnerable at the moment given that global oil stockpiles are at seven‑year lows and that OPEC+ spare capacity is being questioned due to disappointing OPEC+ supply growth."
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