U.S. stock futures turned lower Tuesday, one day after a broad market slide as concerns about oil supply.
to around $124 per barrel Tuesday, after settling Monday at its highest level since September 2008. WTI topped $130 on Sunday, a high back to July 2008. The U.S. was set to ban Russian oil, liquefied natural gas and coal without European participation as soon as Tuesday, NBC News reports. Europe relies heavily on Russian energy production.
Traders, brokers and clerks on the trading floor of the open outcry pit at the London Metal Exchange Ltd. in London, U.K., on Monday, Feb. 28, 2022.Tuesday after prices quickly doubled to a record high above $100,000 per metric ton, fueled by a race to cover short positions after Western sanctions threatened supply from Russia. Nickel prices have quadrupled over the past week on fears of further curbs on supply.