President Vladimir Putin has banned Russian oil in response to the price cap. He has signed a decree retaliating against the West's imposition of the Russian oil price cap by banning oil supplies to buyers who joined the price cap, starting February 1, 2023.
Oil prices rose today, as Brent crude futures contracts increased by 0.4%, equivalent to 31 cents, to reach $74.64 a barrel. While West Texas crude futures rose by 0.3%, about 22 cents, to reach $79.75 a barrel. Both benchmarks recorded their weekly highs.
The dollar index jumped to its highest level in more than a week, supported by an increase in the yield on Treasury bonds, against the Japanese yen, which faced pressure, as the dollar increased by 0.5%, reaching 134.17 yen in Asian transactions, and touched 134.40 yen earlier in the session for the first time since December 20th.
Gold fell today, affected by the pressure of the rising dollar,As spot gold contracts fell by 0.2% to reach $1811.2 an ounce, and gold futures fell by 0.2% to $1818.9 an ounce.
Stocks in the United States closed mixed at the end of yesterday's trading, to accompany their indices to the upside, recording gains in the telecommunications, oil and natural gas sector