Russian President Vladimir Putin has instructed his government to “monitor” exports of food to countries that Moscow deems as “hostile” as the West weighs up levying more sanctions against Moscow. Putin announced the move during a meeting on agriculture on Tuesday, just days after the European Union proposed sweeping new sanctions against the country in response to…
Putin Says Russia Will ‘Monitor’ Food Exports to ‘Hostile’ Countries, Be ‘Prudent’ With Supplies Abroad
Oil Rises From 3-week Low as Supply Concerns Linger
LONDON—Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook. Brent crude futures climbed $1.05 or 1. percent, to $102.12 a barrel at 0921 GMT, while U.S. West Texas…
World Shares Track Wall Street Retreat on Interest Rate Worries
World shares were mixed Thursday after a retreat on Wall Street spurred by comments indicating the Federal Reserve intends to more aggressively tackle inflation. Benchmarks rose in Paris and Frankfurt after declines in most Asian markets. U.S. futures fell while oil prices were higher. The Fed comments have added to investor unease over the war…
IEA Releasing 60 Million Oil Barrels Into Market, Price Cools Down But Rises Slightly as Fears of Instability Persists
April 7, 2022
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The International Energy Agency (IEA) will release 60 million barrels of oil from its member nations into the global marketplace in an effort to cool down prices after the Russian invasion of Ukraine, following which, prices have risen and remain reluctant to lower. “The @IEA is moving ahead with a collective oil stock release of…
High Gas Prices Caused by Biden Policies, Say Republican Lawmakers
April 6, 2022
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Historically high gas prices are largely a result of Biden administration policies, not simply Russia’s invasion of Ukraine, Sen. James Lankford (R-Okla.), Sen. Ted Cruz (R-Texas) and other GOP senators argued at a press conference April 6. “The problem is that the oil is in Louisiana and Texas and Oklahoma and Kansas and North Dakota and…
Breaking Ranks With EU, Hungary Says Ready to Pay for Russian Gas in Roubles
April 6, 2022
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BUDAPEST/LONDON—Hungary said on Wednesday it was prepared to pay roubles for Russian gas, breaking ranks with the European Union which has sought a united front in opposing Moscow’s demand for payment in the currency. Hungary will pay for shipments in roubles if Russia asks it to, Prime Minister Viktor Orban told a news conference on…
EU Countries Hunt for Global Coal Stocks as Russian Ban Looms
April 6, 2022
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LONDON—European buyers are increasing shipments of coal from across the globe against a backdrop of a proposed European Union ban on Russian imports and the scramble to relieve tight gas supplies, according to data and shipping sources. The European Commission on Tuesday proposed new sanctions against Moscow over its invasion of Ukraine, including a ban…
Gold Subdued as Robust Dollar Dims Appeal; Focus on Fed Minutes
Gold prices were subdued on Wednesday in choppy trade as a robust dollar and the prospect the Federal Reserve could raise interest rates aggressively kept non-yielding bullion near a one-week low. Spot gold XAU= was 0.1 percent lower to $1,921.60 per ounce by 8 a.m. EDT (1200 GMT). U.S. gold futures GCv1 were down 0.2…
Oil Rises as New Russia Sanctions Outweigh Demand Worries
April 6, 2022
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LONDON—Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up $1.14, or 1.1 percent, at $107.78 a barrel as of 1115 GMT. U.S. West Texas…
Stocks Slip, Bonds Hit as Bets on Fed Action Rise
LONDON—Global share prices eased and U.S. Treasury yields hit multi-year highs on Wednesday as investors bet that the U.S. Federal Reserve will couple shrinking of its balance sheet next month with a big interest rate hike to quell decades-high inflation. Investors also waited for details of the latest package of coordinated sanctions on Russia from…
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