![Oil sinks over China demand fears, stocks rise on Ukraine talks](https://www.berlinertageblatt.de/media/shared/articles/a1/d3/e4/Oil-sinks-over-China-demand-fears---113868.jpg)
-
Biden team, end in sight, keeps hope on Gaza truce despite setbacks
-
Sabalenka dedicates US Open to family 'who never gave up' on dream
-
Venezuela takes diplomatic jab at Brazil in spat over election
-
Multiple people shot along highway in US state of Kentucky
-
'Super proud' Sabalenka downs Pegula to win US Open thriller
-
In Papua New Guinea, Pope holds mass 'at the edge of the world'
-
Hewett stays positive for wheelchair tennis despite agonising defeat
-
Three things on US Open champion Aryna Sabalenka
-
Sabalenka downs Pegula to win US Open thriller
-
USA men land Paralympic basketball three-peat, Jiang takes 7th swim gold
-
USA slump to first home defeat against Canada in 67 years
-
Argentina hand Australia record 67-27 loss in Rugby Championship
-
England impress on Carsley bow, Germany, Dutch hit five
-
AFP photographer wins top prize for Gaza coverage
-
No Love for Packers for three weeks after ligament sprain: reports
-
Pedro Almodovar: chronicler of modern Spain crowned in Venice
-
Almodovar wins top Venice prize for end-of-life film
-
Trump sounds dark tone at rally, Harris 'ready' for debate
-
Wirtz and Musiala dazzle to kick-start new Germany era
-
Chinese teenager takes 7th gold of Paris Paralympics
-
England interim boss Carsley 'respects' divided opinions over anthem
-
Neuville moves to the front in the Acropolis Rally
-
Garfield, Pugh charm Toronto in new romance 'We Live in Time'
-
21 boys confirmed dead in Kenya school inferno
-
Over 100,000 protest in France against new prime minister
-
Golden 30 minutes takes China to swimming Paralympics swimming domination
-
Green leads Australia to T20 series sweep of Scotland
-
Nigeria, Cameroon win afer chaotic AFCON build-ups
-
Nicole Kidman: A-lister, cinematic chameleon, wins in Venice
-
'I had to prove myself', says Kolisi after win against All Blacks
-
Almodovar wins top prize at Venice film festival
-
Grealish savours England redemption after 'worst summer'
-
Carsley makes flying start as England interim boss in win over Ireland
-
Springboks close on Rugby Championship with storming win over All Blacks
-
Sri Lanka's De Silva and Kamindu Mendis defy England in third Test
-
Farrell's Racing lose on opening day of Top 14
-
Ireland and UK to 'reset' relations as Starmer visits Dublin
-
Dunbar takes second Vuelta stage as Roglic closes in on victory
-
Fritz eyes US Open glory to end 21 years of American hurt
-
Thousands protest in France against new prime minister
-
Death toll from Kenya school blaze rises to 21
-
Brazil's right rallies for 'freedom' after X suspended
-
Trump to hold rally in swing state, Harris preps for debate
-
Stone at the double as Sri Lanka collapse against England in third Test
-
French tennis player takes legal action over online abuse
-
Italy backs Kyiv's 'legitimate defence' as Zelensky presses allies
-
The Body Shop rescued from administration after deal
-
Martin roars to victory in San Marino sprint, extends MotoGP lead
-
Smoke and screams: The horror of Kenya's school dorm inferno
-
MotoGP leader Martin roars to victory in San Marino sprint
![Oil sinks over China demand fears, stocks rise on Ukraine talks](https://www.berlinertageblatt.de/media/shared/articles/a1/d3/e4/Oil-sinks-over-China-demand-fears---113868.jpg)
Oil sinks over China demand fears, stocks rise on Ukraine talks
World oil prices dived Monday as Shanghai's phased Covid lockdown reignited fears over Chinese energy demand.
US benchmark West Texas Intermediate oil and Europe's London Brent crude both dropped more than six percent in value.
Stock markets, however, mostly rose, with traders hoping for progress in ceasefire talks between Russia and Ukraine, though gains were tempered by the Shanghai lockdown that also stoked concern over strained supply chains.
"Oil prices started this week trading lower after news of the lockdown in the financial hub of Shanghai shook markets with prospects of further economic slowdowns and supply chain issues," said XTB analyst Walid Koudmani.
"Oil benefited recently from the uncertainty surrounding the Russia-Ukraine conflict and as more countries considered banning Russian imports -- but as many began to price in such an event, attention has turned to recent Covid-19 developments in the world's second economy."
The news impacted the global oil market because China is the world's biggest crude consumer.
Equity markets brushed off the latest lockdown to focus on Ukraine peace hopes.
Shares in London, Frankfurt and Paris were moderately higher in mid afternoon deals, while Wall Street stocks were mixed shortly after opening.
With Russia's Ukraine invasion now in its second month, investors are hoping the two sides will be able to make inroads on ending the crisis when they meet in Turkey, either on Monday or Tuesday.
"European markets have started the week on a positive footing clinging to hopes that a peace deal between Ukraine and Russia could be in sight," said Interactive Investor analyst Victoria Scholar.
Ukrainian President Volodymyr Zelensky said he hoped they would bring peace "without delay", despite several previous rounds failing to overcome disagreements about Kyiv's alignment with the West and Russia's occupation of eastern parts of the country.
But there is a hope that Moscow could be willing to de-escalate as its troops struggle to break dogged resistance from its much smaller opponent.
Zelensky has previously indicated he is "carefully" considering a Russian demand of Ukrainian "neutrality".
Meanwhile, growing expectations that the US Federal Reserve will become increasingly aggressive in its drive to bring down inflation continue to dampen sentiment, with Treasury yields -- a gauge of future interest rates -- surging.
While stock markets have managed to remain resilient in the face of heightened uncertainty, concerns that the Fed will ramp up interest rates continue to cast a pall.
- Key figures around 1350 GMT -
West Texas Intermediate: DOWN 7.1 percent at $105.84 per barrel
Brent North Sea crude: DOWN 6.5 percent at $109.71 per barrel
New York - DOW: DOWN 0.4 percent at 34,744.21
London - FTSE 100: UP 0.3 percent at 7,505.36 points
Frankfurt - DAX: UP 1.5 percent at 14,520.44
Paris - CAC 40: UP 1.3 percent at 6,640.80
EURO STOXX 50: UP 1.3 percent at 3,918.78
Tokyo - Nikkei 225: DOWN 0.7 percent at 27,943.89 (close)
Hong Kong - Hang Seng Index: UP 1.3 percent at 21,684.97 (close)
Shanghai - Composite: UP 0.1 percent at 3,214.50 (close)
Euro/dollar: DOWN at $1.0968 from $1.0983 late Friday
Pound/dollar: DOWN at $1.3082 from $1.3182
Euro/pound: UP at 83.83 pence from 83.31 pence
Dollar/yen: UP at 123.78 yen from 122.05 yen
L.Janezki--BTB