- Oil prices were part of a “risk-off” event that took place most of the day Monday but pared most losses, as did equities
- The Dow Jones Industrial Average was down about 1,000 points mid-day yesterday before finishing 100 points higher at market close
- A variety of asset classes were whiplashed as the U.S. Federal Reserve prepared the ground for interest-rate increases (BBG)
- Tensions between Russia and Ukraine remain high as oil and gas investors contemplate the impact of a possible Russian incursion
- The risk of that happening in the next few weeks stands at more than 50%, according to RBC Capital Markets analysts Helima Croft
- Disruption to oil flows from Russia could easily send prices to $120/Bbl, JPMorgan Chase & Co. wrote last week (BBG)