Activity in the oil and gas sector accelerated in the first quarter as company outlooks improved, according to a survey of oil executives released on Wednesday by the Federal Reserve Bank of Dallas. U.S. crude will sell for an average of $93 a barrel by the end of the year and natural gas prices at…
Eying Strong Year-End Prices, US Oil Firms Accelerate Activity: Fed Survey
US Business Activity Rises to Eight-Month High in March: Survey
WASHINGTON—A measure of U.S. business activity increased to an eight-month high in March, fueled by strong demand for both goods and services, but Russia’s war against Ukraine hurt sentiment. S&P Global said on Thursday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 58.5 this…
Japan Unsure How Russia Will Execute Rouble Payments for Energy Sold to ‘Unfriendly’ Nations
March 24, 2022
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TOKYO—Japan does not know how Russia will handle the required rouble payments for its energy sold to “unfriendly” countries, the finance minister said on Thursday. Japan accounted for 4.1 percent of Russia’s crude oil exports and 7.2 percent of its natural gas exports in 2021. “Currently, we’re looking into the situation with relevant ministries as…
Shares, Oil Volatile Ahead of NATO Russia-Ukraine Summit
LONDON—World share markets were choppy on Thursday as the Russia-Ukraine war kept oil above $120 a barrel, while worries about “stagflation” rose on renewed talk of aggressive U.S. interest rates hikes and slowing growth. Europe’s main stock indexes barely budged and government bond yields edged up toward multi-year highs hit earlier in the week as…
Oil Prices Steady as Western Leaders Meet Over Ukraine Crisis
LONDON -Oil prices were steady on Thursday as the U.S. president met other Western leaders and investors in Brussels for emergency talks about the Ukraine crisis. Benchmark Brent was up 0.3 percent at $121.95 a barrel by 1111 GMT, after falling by close to $2 earlier in the session. U.S West Texas Intermediate (WTI) was little…
Russia Stocks Jump as Trade Resumes After Month-Long Break
Russia’s stocks jumped on Thursday, the first day of trading in almost a month in the wake of its troops entering Ukraine, with gains in commodity stocks offset by a drop in a flagship bank and airline, in volatile trading backed by the promise of support from sovereign wealth fund money. The government said on…
Rouble Closes at Highest Since February on Gas Sales Move
The Russian rouble closed on Wednesday at its strongest this month against the dollar both in Moscow and offshore exchanges after President Vladimir Putin said Russia would start selling its gas to “unfriendly” countries in roubles. The rouble ended below 100 per dollar, still down over 22 percent this year as Russia faces strict sanctions globally,…
Farmers Paying Triple for Fertilizer: We’re Not the Ones Raising Food Costs
March 23, 2022
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Beep, beep, beep. It’s the familiar sound of food scanned and placed into bags at your local grocery store. You just went in for a few things and meant to keep it under $100. But you walk away with a new case of sticker shock and fewer bags than $100 used to buy. Inflation has…
Dollar Climbs, Euro Weakens, as Biden Brings Sanctions Plan to Europe
March 23, 2022
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NEW YORK—The dollar climbed on Wednesday while the euro weakened as oil prices saw another jump with U.S. President Joe Biden poised to announce, alongside other European leaders, new sanctions against Russia during his trip to Europe. Biden is due to arrive in Brussels later on Wednesday on his first foreign trip since the war…
Wall Street Pulls Back on Stocks, Treasury Yields Dip
BOSTON/LONDON—Wall Street took a breath on Wednesday, pushing stocks and Treasury yields down after both had powered higher earlier in the week as investors took in the strength of the economy and hawkish comments from U.S. policymakers. Two-year U.S. Treasury yields are up sharply so far in March and set for their biggest monthly jump…
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