Ukraine’s offensive against pro- Russian separatists may have escalated the conflict to the point where NATO could be compelled to mount a stronger show of force to deter any Russian moves beyond eastern Ukraine.
Brent and West Texas Intermediate crudes rose to five-week highs as tension escalated between Ukraine and Russia, the world’s biggest energy exporter. Brent’s premium to WTI widened for the first time in seven days.
Guinea Bissau is counting ballots in presidential and legislative elections aimed at restoring democracy two years after a coup thwarted a previous poll and triggered an economic slide in the former Portuguese colony.
The Standard & Poor’s 500 Index rebounded from the worst weekly loss in two years, weathering a selloff in the final hour, after retail sales rose the most since 2012 and Citigroup Inc.’s earnings unexpectedly rose. Treasuries fell with the ruble and commodities advanced on concern the situation in Ukraine is worsening.
European officials weighed expanding sanctions against Russia over Ukraine, where they say the government in Moscow is stoking deadly separatist unrest with the same methods it used to destabilize and annex Crimea.
The ruble declined to the lowest level in three weeks and stocks fell after Russia and the U.S. blamed one another for deadly unrest in Ukraine. Bonds dropped as the European Union weighed new sanctions.