As the U.S. and its allies continue to levy economic sanctions on Russia, markets have been bracing for serious disruptions to crude supplies. Earlier this month, U.S. oil prices rose to as high as $130.50 per barrel, the highest since 2008.
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That tops off the S&P 500’s best week since the week ended Nov. 6, 2020. And from Tuesday through Friday, the Nasdaq gained more than 1% in four consecutive trading days for the first time since September 2011.
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