Among the pre-trading on the IG trading platform, the Oslo Stock Exchange was down 1.22 percent just before 07.00 Monday.
Roger Berntsen, an analyst at Nordent, believes that the main index is opening at 0.7 percent, or within a period of time. [0,4,1,0] percent.
In Japan, the Nikkei was down 2.92 percent, while the broader Topix was down 2.76 percent.
China’s Shanghai Composite Index is down 1.57 percent, Hong Kong’s Hang Seng Index is down 3.07 percent, and South Korea’s Kospi is down 2.07 percent.
In India, the Sensex Index is down 3.06 percent, the S&P/ASX 200 Index in Australia is down 1.02 percent, and the Straits Times Index in Singapore is down 0.47 percent.
Read the full update for Asia here.
Brent oil rose 9.91 percent on Monday morning to $129.80 a barrel, while West Texas Intermediate crude rose 8.78 percent to $125.80 a barrel.
In contrast, a barrel of North Sea oil was traded at $115.63 a barrel at the close of trading in Oslo on Friday.
The sharp jump in oil prices came after the US Secretary of State said on Sunday that Americans and allies are considering a ban on Russian oil and gas imports.
– We now consider that the probability of Russian exports being directly affected by sanctions is very high. The action also indicates that the market has not considered the possibility of direct sanctions on Russian oil, ANZ commodity analyst Daniel Haynes tells CNBC.
The strong labor market report was overshadowed by the Ukraine war, and US indexes ended Friday.
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