The dollar strengthened to a 14-month high and commodities declined to the lowest level in five years after data added to evidence China’s economy is slowing. Russia’s ruble weakened to a record after the European Union and U.S. imposed new economic sanctions.
The oil industry is gearing up for a postelection lobbying push to loosen the four-decade U.S. ban on exports of crude oil, saying that relaxing the prohibition would create jobs and stimulate the economy.
European natural gas prices fell the most in more than two weeks after Ukraine agreed to allow Russian humanitarian aid across its border and talks between the two former Soviet nations brought some progress.
The Standard & Poor’s 500 Index rose with European stocks, while crude oil and bonds slipped as diplomats from Ukraine and Russia discussed a possible truce and Kurdish forces made progress against militants in Iraq.