Oil markets open for the weeks soon. eur Russia’s top diplomat at the Iran nuclear talks, Mikhail Ulyanov, said there was a “very high probability” that the disagreement between the US and Iran on the 2015 atomic accord will be resolved before the end of next week. agreement would “almost for sure” be settled “next
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LONDON – OPEC+ revised down its forecast for an oil market surplus this year by about 200,000 barrels per day (bpd) to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters on Sunday. The data – part of a report the Joint Technical Committee (JTC) prepares for OPEC+
Oil prices slipped below $100 per barrel on Friday from $105 a day earlier as energy supplies from Russia escaped any direct US sanctions that came in the wake of the Russian invasion of Ukraine. Crude traded between $98 and $102 per barrel in international markets during the day. Russia had launched an invasion of
A number of Russian banks have been removed from SWIFT: The banks affected are “all those already sanctioned by the international community, as well as other institutions, if necessary” Assets of the Bank of Russia (Russia’s central bank) will also be frozen. A joint statement after agreement by the US, UK, Europe and Canada. intention
I highlighted a under-appreciated trend last week: Public pressure to do more to punish Russia. It started with Biden’s press conference where he was hit with question after question about harsher sanctions and cutting of Russia from SWIFT. That same pressure has hit politicians everywhere. One-by-one, leaders have been peppered with similar questions and there
A deal among OPEC+ oil producers including Russia is showing no cracks so far after Russia’s invasion of Ukraine, OPEC+ sources said, and the group is likely to stick to a planned output rise at a meeting next week despite crude topping $100 a barrel. The Organization of the Petroleum Exporting Countries and allies, known
The markets had a roller coaster ride on Russia’s invasion of Ukraine last week. At the time of writing, Kyiv remains in Ukrainian hands after three days of brutal attack by Russia. Wave of European leaders have start delivering supplies Ukraine while packages of sanctions were imposed, up to Russian President Vladmir Putin. It’s also
The US stock indices tacked on another positive performance with the Dow taking the center stage with it’s biggest day in 2022. The Dow rose 834 points on the day or 2.51%. The Nasdaq was the weakest performer but it still added 1.64% after yesterday’s 3.35% gain. The S&P rose 95.95 or 2.24%. European shares
Black Sea — a major artery for the movement of commodities at the crossroads of Europe and Asia — is suddenly drawing the world’s attention as the conflict in Ukraine unfolds. Half a dozen countries touch its shores, though it’s vital to many others beyond, for the trade of energy, steel and agricultural products. Crude
12-month PCE inflation 3.1% vs 3.5% prior Six month annualized inflation 4.6% vs 3.9% prior One month annualized inflation 6.7% vs 4.6% prior These numbers all show an acceleration in core inflation and that’s the kind of thing that will kick the Fed into a higher pace of rate hikes. Owner-occupied home inflation rose 5.2%
New Delhi: Paring previous gains, gold prices in the national capital on Friday declined by Rs 1,274 to Rs 50,913 per 10 gram reflecting overnight fall in international market along with rupee appreciation, according to HDFC Securities. The yellow metal had closed at Rs 52,187 per 10 gram in the previous trade. Silver also plummeted
Global stocks continue to rebound today. The West’s refrain from excluding Russia out of SWIFT was seen as a relief. But still risks remain, in particular if war spreads to NATO countries. Economic data continue to take a back seat, and even another surge in US inflation doesn’t move markets. As for currencies, Aussie is
I mean, we already know the predisposition when it comes to China’s relations with Russia and the West. But the fact is that Russia’s move is certainly forcing China to “pick sides” even if it just means not doing anything and staying out of the picture. The only notable response from China is that they
NEW DELHI: Gold prices dropped sharply on Friday on profit-taking although remained at multi-month highs amid global geopolitical worries. The bullion investors reassessed the situation surrounding Russia’s invasion of Ukraine and fresh sanctions against Moscow from the West. Gold futures on MCX were trading lower by 1.05 per cent or Rs 553 at Rs 51,000
Overall, the markets seem to have stabilized from the shocking invasion of Ukraine by Russia, for now at least. US stock markets staged a late and strong turnaround overnight while Asian markets also recovered. Gold is back pressing 1900 handle while WTI oil is trading around 96, after breaching 100 briefly. In the currency markets,
This tweet is the object of an SEC insider trading probe. The WSJ story says the probe is largely focused on Musk’s brother Kimball, who is also a Tesla board member. He sold 88,500 chares of Tesla valued at $108 million the day before this tweet, which caused shares to go down. One question for
New Delhi: Gold prices in the national capital rallied by Rs 1,656 to Rs 51,627 per 10 grams on Thursday on the back of safe-haven buying and sharp depreciation of rupee amid the Russia-Ukraine conflict, according to HDFC Securities. The yellow metal had closed at Rs 49,971 per 10 grams in the previous trade. Silver
Russia invasion of Ukraine remains the dominant theme in the markets today. Safe haven flow pushes gold to highest level in more than a year, marching towards 2k handle. WTI crude oil also surges pass 100 level, rising as it does in geopolitical tensions. In the currency markets, Yen and Dollar are overwhelmingly the strongest