Daily market commentary: WTI crude oil prices reach a multi-year maximum as concerns grow over potential disruption of energy supplies from Russia

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" loading="lazy" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><h2>European Shares</h2>
<p>European shares climbed on Tuesday as most benchmarks register corrective bullish moves following Monday’s massive sell-off on equity markets. <a target="_blank" href="https://www.leaprate.com/forex/market-news/weekly-data-rbnz-and-us-gdp/" rel="noopener">Ukraine-Russia tensions</a> continue to simmer and dent market sentiment this <a target="_blank" href="https://www.leaprate.com/forex/market-news/daily-market-commentary-safe-heaven-currencies-are-on-the-back-foot-during-early-friday-trading/" rel="noopener">week</a>, especially after President Putin ordered military forces to what he recognized as “separatist areas”, leading the current conflict to another dimension. With geopolitical and economic uncertainty on the rise, it is no surprise to see investors seeking safer assets such as treasuries, precious metals and energy while reducing their exposure to equities. This trend is likely to continue if relations between Russia and the rest of Nato countries worsen. However, the significant equity sell-off is turning share markets more affordable and attractive and, with that in mind, any positive developments, potentially in the shape of an economic or energy deal between Russia, Ukraine and the rest of Nato, could boost risk appetite and spark the beginning of a sharp bullish correction.</p>
<p>Technically speaking, the Stoxx-50 index has registered bullish price action since its rebound over the 3,900-pts support level. The next targets can be located towards 4,000-pts, 4,030-pts and 4,065-pts by extension while a breakout of the 3,900-pts support zone could quickly lead prices around 3,855-pts and further.</p>
<p><img class="alignnone size-full wp-image-443828" src="https://www.leaprate.com/wp-content/uploads/2022/02/STX50.png" alt="" width="1852" height="807" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/STX50.png 1852w, https://www.leaprate.com/wp-content/uploads/2022/02/STX50-250×109.png 250w, https://www.leaprate.com/wp-content/uploads/2022/02/STX50-700×305.png 700w, https://www.leaprate.com/wp-content/uploads/2022/02/STX50-768×335.png 768w, https://www.leaprate.com/wp-content/uploads/2022/02/STX50-1536×669.png 1536w, https://www.leaprate.com/wp-content/uploads/2022/02/STX50-120×52.png 120w, https://www.leaprate.com/wp-content/uploads/2022/02/STX50-245×107.png 245w, https://www.leaprate.com/wp-content/uploads/2022/02/STX50-500×218.png 500w" sizes="(max-width: 1852px) 100vw, 1852px" /></p>
<p>Pierre Veyret– Technical analyst, ActivTrades</p>
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<p><em>Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.</em></p>
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<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/market-news/daily-market-commentary-wti-crude-oil-prices-reach-a-multi-year-maximum-as-concerns-grow-over-potential-disruption-of-energy-supplies-from-russia/">Daily market commentary: WTI crude oil prices reach a multi-year maximum as concerns grow over potential disruption of energy supplies from Russia</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>