U.S. wheat prices climbed for the second consecutive day amidst reports that more sanctions are being considered against Russia for its ongoing war in Ukraine and alleged crimes against the civilian population. U.S. wheat futures registered its lowest closing price in a month on April 1 at $9.84 per bushel. After rising on Monday, it…
Wheat Prices Spike On Potential Russia Sanctions
April 5, 2022
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Russia Expects $321 Billion in Energy Exports in 2022 Despite Recent Sanctions
April 5, 2022
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Despite severe Western sanctions levied against Russia since its war with Ukraine began Feb. 24, Russia is expected to earn nearly $321 billion from energy exports in 2022, an increase of more than a third over 2021, Bloomberg News reported. Moscow’s economy has survived a full month of sanctions and is emerging with a relatively…
Oil Extends Rally on Prospect of More Russia Sanctions
April 5, 2022
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LONDON—Oil prices rose on Tuesday as the United States and Europe planned new sanctions to punish Russia over alleged war crimes in Ukraine, raising concerns over tighter global supply, while Iran’s nuclear talks with world powers stalled. Brent crude was up $1.17, or 1.1 percent, to $108.70 a barrel at 0952 GMT. U.S. West Texas…
Stocks, Oil, Bond Yields Edge up Ahead of Expected New Russia Sanctions
April 5, 2022
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LONDON—Traders were back on Russia sanctions watch on Tuesday with oil, inflation-sensitive bond yields, and stocks all edging higher ahead of an expected new measures from the West in coming days. Europe saw the STOXX 600 index nudge 0.3 percent higher as oil, industrial, tech, and insurance stocks all made ground, while the euro clawed…
India Rejects Adani Bids to Supply Imported Coal Over ‘High Prices’
India’s Andhra Pradesh state has canceled two bids from Adani Enterprises Ltd. for tenders to supply imported coal due to the high coal prices, despite the company being the sole bidder for one of the tenders, government officials said April 3. The officials, who spoke on the condition of anonymity, told Reuters that Adani offered…
Oil Slips Below $104 as Reserves Release Counters Supply Fears
LONDON—Oil slipped on Monday in volatile trading as the release of strategic reserves by consuming nations eased concerns over tight supply amid Russia’s invasion of Ukraine and the lack of an Iranian nuclear deal. Crude dropped by about 13 percent last week after President Joe Biden announced a record U.S. oil reserves release and as…
Stocks Stall as West Considers More Sanctions Against Russia
LONDON—Global equity markets made a cautious start on Monday amid talk of more sanctions against Russia over its invasion of Ukraine, while a closely watched part of the U.S. yield curve fuelled recession worries further. Germany said the West would agree to impose more sanctions on Russia in the coming days after Ukraine accused Russian…
Kremlin Says Britain Won’t Get Any Russian Gas Due to Sanctions
The Kremlin has said that London’s sanctions of Moscow’s Gazprombank, through which payments are to be made under Russian President Vladimir Putin’s rubles-for-gas scheme, mean that Great Britain won’t be able to buy Russian gas. Kremlin spokesperson Dmitry Peskov told Russian state-backed news agency Tass on Saturday that British sanctions against Gazprombank mean that the…
London Metal Exchange To Suspend Deliveries Of Some Russian Metals Stored In The UK
April 2, 2022
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The London Metal Exchange announced the suspension of deliveries of certain Russian-produced metals to its warehouses in the UK on April 1st. The exchange, which is owned by Hong Kong Exchanges and Clearing, suspended its operations for more than a week and canceled billions of dollars of trades on March 8, after a run in commodity…
Japan Will Not Exit From Oil and Gas Project With Russia, Kishida Says
April 2, 2022
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Japan will not pull out from the Sakhalin-2 liquefied natural gas (LNG) project in Russia despite the withdrawal of other companies over Russia’s invasion of Ukraine, Prime Minister Fumio Kishida said Thursday. “It is an extremely important project in terms of energy security as it has contributed to the long-term, stable supply of inexpensive liquefied…
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