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Monday 18th Finance Headlines

INTERNATIONAL:  The CSX Index is currently at 538.38 points down 0.57 points or 0.11%

 The Daily Exchange Rate: is 4,045 KHR to the USD$

Oil prices climbed to nearly three-week highs today as fears over tight global supply grew, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia.

Brent futures were up $1.09, or 1.0%, at $112.79 a barrel after hitting its highest since March 30 of $113.80 earlier in the session.

U.S. West Texas Intermediate futures rose $1.00, or 0.9%, to $107.95 a barrel, having gained to as high as $108.55, the highest since March 30.

Several buyers of Russian natural gas have agreed to switch to payment in rubles, Russian Deputy Prime Minister Alexander Novak said.

The deputy PM noted that EU countries will likely not be able to completely replace Russian energy in the next 5-10 years. He said it is impossible to talk about guaranteeing Europe’s energy security without Russian resources.

Elon Musk put in a bid for Twitter with a $41 billion cash offer. Musk's offer price of $54.20 per share represents a 38% premium to Twitter. Shares in Twitter jumped 12% in premarket trading, while those of Tesla fell about 1%.

U.S. stock investors worried geopolitical uncertainty and the Federal Reserve's fight against inflation could dent economic growth are heading for defensive sectors they believe can better weather turbulent times and tend to offer strong dividends.

Net foreign inflows into Treasuries rose for a fourth straight month in February to $75.3 billion, data from the U.S. Treasury Department showed on Friday.

Of that, private overseas investors bought $91.9 billion in Treasuries and foreign official institutions sold $16.2 billion.

Foreigners have bought Treasuries in 10 of the last 12 months, including a record net monthly purchase of $118 billion in March 2021.



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