LONDON—European stocks edged lower on Thursday and were set for their biggest quarterly drop since the start of 2020, while oil prices fell and eastern Ukraine braced for fresh attacks. The MSCI World Equity index was down 0.3 percent on the day, while Europe’s STOXX 600 eased 0.2 percent to sit just below a one-month…
Russia Won’t Immediately Make ‘Unfriendly’ Buyers Switch to Ruble Gas Payments: Kremlin
March 31, 2022
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Business & EconomycommoditieseconomyEuropeMarketsRussiaRussia-Ukraine WarRussian natural gasRussian rubleWorld
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Russian officials have said the country won’t immediately demand that buyers pay for its natural gas exports in rubles after President Vladimir Putin said earlier that “unfriendly” countries must do so. Putin issued an order March 23 for Russian gas to be purchased in rubles instead of dollars or euros, directing the Russian central bank, the government,…
Germany Triggers Emergency Plan as Putin Wants Gas Paid in Rubles
March 30, 2022
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Business & Economycommoditieseconomic policiesEuropegermany's dependence on russiaMarketsRussia gasRussia-Ukraine WarRussian Oil TradeWorld
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Berlin has triggered the first stage of an emergency plan for managing gas supplies due to concerns of potential supply disruptions following Russian President Vladimir Putin’s push to make “unfriendly” nations buy gas in rubles. Germany’s emergency gas plan has three levels. The first is the early warning, which is triggered when there are signs…
Oil Rebounds on Tight Supply, Prospects of New Russia Sanctions
LONDON—Oil prices clawed back heavy losses to rise more than 2 percent on Wednesday on supply tightness and the growing prospect of new Western sanctions against Russia even as Moscow and Kyiv held peace talks. Brent crude futures were up $2.44, or 2.2 percent, at $112.67 by 1054 GMT, reversing a 2 percent loss in…
Stocks Lose Steam, Bond Markets Suggest Pain Ahead for US Economy
LONDON—European shares fell on Wednesday after three straight days of gains, as signs in bond markets of pain ahead for the U.S. economy tempered hopes of a negotiated end to the Ukraine conflict. The broad Euro STOXX 600 fell 0.6 percent after three positive sessions that had taken the index back to levels reached before…
Poland to End Russian Coal, Gas, Oil Imports Completely
Poland is pressing ahead with plans for a complete embargo on Russian coal, gas, and oil imports by the end of 2022, while calling for a European Union-level tax on Russian fossil fuels, all in a bid to cut the flow of money to Russia’s military machine. Polish Prime Minister Mateusz Morawiecki told a press…
Texas Oil and Gas Jobs See Biggest Leap in 10 Years, Historic Growth Due to ‘Strong Demand’
March 29, 2022
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Business & Economycommoditieseconomyjobs creationLocal NewsMarketsoil and gas industriesoil and gas leasesRegional-Local NewsTexastexas economyUSUS News
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Jobs related to oil and gas in Texas have seen the biggest monthly increase in a decade, and the second-highest increase in at least 32 years, the Texas Oil and Gas Association (TXOGA) said citing data from the Texas Workforce Commission. Upstream oil and gas jobs in the state grew by 5,100 in February 2022…
Bitcoin Holds Ground After Touching Highest This Year
LONDON—Bitcoin on Tuesday held ground just below its highest this year, touched a day earlier, with gains for the original cryptocurrency topping 27 percent since the Ukraine war. Bitcoin hit $48,234 on Monday evening, its highest since Dec. 31. It was last trading up 0.9 percent at $47,553. Its gains lifted smaller cryptocurrencies that tend…
G-7 Reject Paying for Russian Natural Gas in Rubles
The German energy minister has announced that the Group of Seven major economies (G-7) had agreed to reject categorically Russian President Vladimir Putin’s demand that payments for Russian natural gas be made in rubles. On Monday, when asked about Putin’s ultimatum demanding that “unfriendly countries” must make payments for natural gas in Russian fiat currency, German…
Shares Grind Higher; Bonds Brandish Recession Warnings
LONDON—Global markets veered in different directions on Tuesday, with shares climbing to five-week highs, recession warnings growing in the government bond markets, and Japan’s yen headed for its worst month since 2016. Europe’s main bourses made strong opening gains, taking cues from Asia overnight after the Bank of Japan had defended its vast stimulus program,…
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