Global shares rise for 11th day in row, oil prices go up amid tensions in Middle East

Source : 112 Ukraine

Such changes are caused by a number of factors, including the vaccination with COVID-19 vaccines in the USA and Joe Biden's 1.9 trillion dollars in stimulus
18:58, 15 February 2021


Optimism about the vaccination with COVID-19 vaccines in the U.S. and new fiscal aid from Washington are causing a rapid rise in global shares for the 11th day in a row. At the same time, tensions in the Middle East forced oil prices to get to their 13-month high. This is reported by Reuters.

U.S. President Joe Biden's looking extra 1.9 trillion dollars in stimulus into the country's economy increased the overall tempo of the so-called reflation trade.

Related: How would Biden change US policy on Russia?

Speaking of oil prices, the recent confrontation between the Saudi-led coalition and Iran regarding the interception of an explosive-laden drone in Yemen caused the highest rise in prices since January 2020.

As we reported earlier, Biden has decided to freeze the implementation of his predecessor Donald Trump's plan to withdraw 12,000 U.S. troops from Germany. 

Jake Sullivan, White House National Security Adviser, called the decision “a global force posture review.” Biden ordered the Pentagon to conduct a review of how the country’s troops are deployed across the world.

Related: Biden on Senate acquittal of Trump: Democracy is fragile

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