Russian gas continued to flow to Europe on April 1, the deadline set by Russian President Vladimir Putin for customers from “unfriendly” countries to start paying for deliveries in roubles or risk being cut off. Russian state-owned energy giant Gazprom said it was continuing to supply natural gas to Europe, Reuters reported. Putin on Thursday signed…
Russian Gas Keeps Flowing to Europe as Putin’s Roubles-for-Gas Deadline Arrives
April 1, 2022
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Oil Benchmarks on Course for Biggest Weekly Losses in 2 Years
LONDON—Oil dipped in and out of negative territory on Friday as members of the International Energy Agency (IEA) were due to discuss a further addition of oil reserves to the market alongside a planned 180 million barrel release by the United States. The benchmark Brent and WTI contracts were both on course for their biggest…
Reactions to Russia Saying Gas Buyers Must Pay in Roubles
Following are reactions to Russian President Vladimir Putin saying foreign buyers of Russian gas must pay in roubles from April 1, and that contracts would be halted if these payments were not made. German Economy Minister Robert Habeck “With regard to the threat, demand, or consideration—one doesn’t know how to call it any more—to be…
US Stock Futures Rise Before Jobs Data, Oil Eyes 13 Percent Weekly Fall
LONDON—U.S. stock index futures rose on Friday ahead of U.S. employment data with markets watching for signs of inflation, while oil was poised for a 13 percent weekly fall following reserve releases. Investors are fretting over whether inflationary pressures will force central banks into aggressive rate hikes, potentially triggering recessions. U.S. March jobs data at…
Gas Still Flows From Russia to Europe as Buyers Navigate Putin’s Rouble Order
LONDON—Russian gas flowed into Europe on Friday, while European gas prices continued to rise, as firms grappled with President Vladimir Putin’s threat to cut off supplies unless they paid in roubles. Two of the three main pipelines for Russian gas into Europe, Nord Stream 1 across the Baltic Sea and into Slovakia over Ukraine were…
Dollar Edges Higher on Safe-Haven Bid, Euro Drops
March 31, 2022
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The dollar edged higher on Thursday as a lack of progress in peace talks between Russia and Ukraine boosted demand for the safe-haven currency and as the energy shock that has resulted from the war weighed on Europe’s economy. Hopes from earlier this week that peace talks would lead to a ceasefire in Ukraine five…
Biden to Release 180 Million Barrels of Oil From Reserve
March 31, 2022
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Business & EconomycommoditieseconomyExecutive BranchGasinflationJoe BidenMarketsOilOPECPoliticsRussiaStrategic Oil ReserveUSUS News
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President Joe Biden is announcing Thursday that the United States will release an unprecedented 180 million barrels of oil from the nation’s Strategic Petroleum Reserve (SPR) over the next several months. The oil will be put out into the market at a pace of one million barrels per day on average for the next six…
Russian Oil Tankers Going Dark, ‘Turning Off Transmissions Deliberately’ to Avoid Sanctions
March 31, 2022
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Following international sanctions, tankers from Moscow carrying oil and other petroleum products are increasingly going dark—the practice of switching off the ship’s transponders—and vanishing from tracking systems. “We’re seeing a spike in Russian tankers turning off transmissions deliberately to circumvent sanctions,” Ami Daniel, CEO of predictive intelligence company Windward, said in an interview with CNN….
Wall Street Heads for Worst Quarter Since 2020
U.S. stocks fell on Thursday on worries about the raging conflict in Ukraine and the outlook for U.S. interest rate hikes, putting the main indexes on course for their worst quarter since the pandemic crash in 2020. Optimism around the peace talks this week faded as Ukrainian forces prepared for fresh Russian attacks in the…
Oil Prices Dive as OPEC+ Stuck to Its Existing Deal for May Output
LONDON—Oil prices plunged on Thursday, while OPEC+ stuck to its existing deal for May output. Brent crude futures for May, which expire on Thursday, were down $5.91, or 5.21 percent, to $107.54 a barrel by 1253 GMT. The most actively traded June futures were down $5.53 at $105.91, after falling by $7. U.S. West Texas…
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