(Reuters) – Large outflows of U.S. bonds funds occurred in the week ending March 9, due to investor concerns that rising oil prices could cause an increase in already high U.S. inflation.

U.S. investors pulled out $7.8 Billion from bond funds. It was the third largest weekly outflow and seventh consecutive week of selling.

Graphic: Fund flows: US equities bonds and money market funds: https://fingfx.thomsonreuters.com/gfx/mkt/akpezxlelvr/Fund%20flows%20US%20equities%20bonds%20and%20money%20market%20funds.jpg

It reached a new 14-year high this week. The U.S. President Joe Biden announced a ban on Russian oil imports and oil exports Tuesday, raising concerns about rising crude oil prices.

Crude oil prices fell later in the week, however, after the United Arab Emirates promised to increase its supply. It became apparent that the European Union wouldn’t join the United States or Britain in banning Russian crude oil.[O/R]

U.S. tax bond funds saw their biggest weekly net sales in just three weeks. Meanwhile, municipal bonds funds experienced a loss of $909 million during a fourth week.

U.S. domestic general taxable fixed-income funds were sold by investors for $2.66 Billion. U.S. intermediate/short investment-grade funds saw net sales of $4.16 Billion in the subsequent nine weeks.

Inflation-protected funds have secured $430million in net purchasing, which is the largest weekly inflow of money since Jan. 19.

Graphic: Fund flows: US bond funds: https://fingfx.thomsonreuters.com/gfx/mkt/lgpdwabjdvo/Fund%20flows%20US%20bond%20funds.jpg

After two weeks of consecutive net sales, investors purchased U.S. Equity funds in the amount of $4.49 trillion.

US funds of large, small and medium-cap size received inflows of $5.6 trillion and $2.97 Billion, respectively. This was after they had faced an outflow the week before. However, mid-cap funds experienced a fourth week of outflows, totaling $490 M.

Outflows of $1.03 billion and $2.16 billion, respectively, were witnessed in U.S. value-oriented equity and growth funds.

Graphic: Fund flows: US growth and value funds: https://fingfx.thomsonreuters.com/gfx/mkt/lbpgnzxjavq/Fund%20flows%20US%20growth%20and%20value%20funds.jpg

Sector funds had outflows in the amounts of $1.92 Billion and $707 M respectively. However, mining funds saw an increase of $812 Million.

Graphic: Fund flows: US equity sector funds: https://fingfx.thomsonreuters.com/gfx/mkt/byprjeamwpe/Fund%20flows%20US%20equity%20sector%20funds.jpg

Investors sold U.S. money markets funds worth $26.9 Billion after just two weeks of net purchasing.