- August 1, 2022
- Posted by: Stratford Team
- Category: Economy
Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration
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LONDON, Aug 1 (Reuters) – Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the U.S. dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market.
The two major crude futures contracts , are up about 30% so far this year, while the All Country World Index (ACWI) is down about 15%, Refinitiv Eikon data shows.
MSCI’s 47-country world stocks index (.MIWD00000PUS) suffered its biggest first-half drop since its creation in 1990 as inflation hit 40-year highs and central banks raised interest rates. read more
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The U.S. dollar index , which measures the value of the greenback against a basket of other major…
