Oil climbed on optimism that China’s reemergence from Covid Zero will aid demand, with traders looking for fresh clues on the outlook as the nation’s financial markets reopen after the week-long Lunar New Year break.
Russia’s war in Ukraine will accelerate the shift away from oil and gas as countries around the world prioritize domestic renewable energy sources as a way to increase security of supply while also cutting carbon emissions.
A suspected Russian surface-to-air missile slammed into a residential building in Kharkiv, causing a fire and casualties, the city’s mayor said. Ukrainian President Volodymyr Zelenskiy urged allies to provide long-range missiles and his defense minister made a plea for aircraft.
Asian stocks are poised to rise Monday, with mainland China markets to reopen on the cusp of a bull market and traders betting that the Federal Reserve will slow the pace of rate hikes later this week.
India will unveil its budget Wednesday, testing Prime Minister Narendra Modi’s fiscal mettle seen as key to boosting investor sentiment even as it will likely leave less room for handouts a year before he seeks a third term.
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