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International Business Times
International Business Times
Business

Crude Spikes As Trump Threatens Russian Giants, Stocks Turn Lower

Donald Trump United States Russia China Vladimir Putin White House Oil
Oil prices have spiked for a second day in a row after Donald Trump hit Russian giants with sanctions (Credit: AFP)

Crude prices spiked more than two percent Thursday after Donald Trump said he would hit two Russian oil companies with hefty sanctions, while talk that the White House was planning curbs on software exports to China added to gloom on markets.

Both main oil contracts jumped almost three percent -- having climbed more than two percent Tuesday -- on news of the measures after the US leader said Ukraine peace efforts with counterpart Vladimir Putin "don't go anywhere".

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