Oil soars, nickel breaks above US$100,000 a tonne

The London Metal Exchange (LME) suspended nickel CMNI3 trading on all venues after prices jumped nearly 400% from Friday's close. The exchange said market uncertainty made it inappropriate to announce a date to resume trading, but it was unlikely before March 11. [nFWN2VA12G] Read full story. (File pic shos LME metal trading in London.)

LONDON: Commodity prices surged on Tuesday with Brent crude soaring on news that the United States and Britain will ban or phase out Russian oil imports, and nickel hitting record highs above US$100,000 a tonne.

The London Metal Exchange (LME) suspended nickel CMNI3 trading on all venues after prices jumped nearly 400% from Friday's close. The exchange said market uncertainty made it inappropriate to announce a date to resume trading, but it was unlikely before March 11. [nFWN2VA12G] Read full story