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World Markets Daily News – In Brief – 31/03/2022

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. SMH (AUSTRALIA)

Tumbling oil prices sends ASX lower, Wesfarmers completes API deal

The ASX 200 was set for its eighth day of gains before tumbling oil prices removed the oil sector as one of its biggest boosters and saw the market close 0.2% lower at 7499.6.

. CNBC (USA)

Oil falls more than 4% in mixed Asia session; data shows contraction in China manufacturing activity

Shares in Asia-Pacific were mixed in Thursday trade as oil prices fell sharply.

European stocks head for higher open after a tumultuous month for markets

European stocks are expected to open higher on the last trading day of March, a month marked by global geopolitical and economic uncertainty after Russia’s invasion of Ukraine.

. REUTERS (CANADA)

Oil prices dive as Biden weighs massive reserves release

Oil prices dived more than $5 a barrel on Thursday as the United States is considering the release of up to 180 million barrels from its strategic petroleum reserve (SPR) over several months to calm soaring crude prices.

Gold slips; set for best quarter in six as Ukraine crisis stokes demand

Gold inched lower on Thursday but prices were set for their biggest quarterly gain since September 2020, as the Russia-Ukraine conflict lifted demand for the safe-haven metal.

. MINT (INDIA)

Sebi imposes penalties worth ₹50 lakh on 10 entities for non-genuine trades

Capital markets regulator Sebi on Thursday slapped penalties totalling ₹50 lakh on ten entities for indulging in non-genuine trades in illiquid stock options segment on BSE.

. FT (UK)

Biden close to announcing another big release of US oil reserves

President expected to detail plan aimed at reducing crude prices that are fuelling inflation

. THE RIO TIMES (BRAZIL)

Brazil’s soybean area expands least since 2006 due to rising costs and fertilizer crisis

Fears of fertilizer shortages are almost entirely slowing soybean expansion in Brazil, the world’s largest exporter. According to a forecast by Itaú BBA (ITUBN), oilseed acreage is expected to increase by only 0.5% in the coming 2022-23 season, the slowest growth since 2006.

. WSJ (USA)

Oil Falls as U.S. Eyes Reserve Release; Stock Futures Rise

U.S. stock futures edged up and oil fell after reports that President Biden is preparing a substantial release of oil reserves to staunch soaring energy prices and inflation.

. MARKETWATCH (USA)

U.S. stocks edge lower on last day of S&P 500’s first losing quarter in 2 years

U.S. stocks drifted slightly lower Thursday to cap a quarter in which Federal Reserve monetary tightening and the Russian invasion of Ukraine have weighed on sentiment and has put the S&P 500 on track for its first quarterly loss in two years.