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Global shares fall, oil rises in volatile trading after Russia oil ban
Global share markets fell on Tuesday as oil prices climbed yet further, driven by the United States banning Russian oil and other energy imports over Moscow’s invasion of Ukraine. U.S. President Joe Biden made the announcement on Tuesday, while Britain said it would phase out imports of Russian oil and oil products by the end of 2022. Benchmark Brent crude for May rose to an intra-day high of $131.27 a barrel before settling at $127.98 a barrel, 3.9% higher, while U.S. crude futures settled at $123.70 a barrel, a 3.6% increase.
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