The top US military officer told lawmakers Tuesday that the world is becoming more unstable and the “potential for significant international conflict is increasing, not decreasing.” Chairman of the Joint Chiefs Gen. Mark Milley and Defense Secretary Lloyd Austin appeared before the House Armed Services Committee in their first testimony before Congress since Russia’s invasion …
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(Bloomberg) — The U.S., European Union and Group of Seven are coordinating on a fresh round of sanctions on Russia, including a U.S. ban on investment in the country and an EU ban on coal imports, following the discovery of civilian murders and other atrocities in Ukrainian towns abandoned by retreating Russian forces. The governments …
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U.S. natural gas production will decline by 5 percent by 2050, and consumption will shed 4 percent if no new interstate pipelines are built, the Energy Information Administration said in its latest Annual Energy Outlook. This, in turn, will lead to higher gas prices, the authority also said, and this will, in turn, lead to …
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U.S. equities and bonds fell as traders weighed hawkish Federal Reserve commentary and a new round of potential sanctions on Russia, ratcheting up global tensions over Moscow’s invasion of Ukraine. The S&P 500 declined, led by losses in technology and consumer discretionary, while Treasuries also retreated amid deepening concern about inflation and the policy response. …
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OPEC’s second-largest producer, Iraq, produced just 4.15 million barrels per day (bpd) of crude oil in March, well below its quota under the OPEC+ agreement, according to data from Iraqi state oil marketing firm SOMO seen by Reuters. Iraq’s crude oil production was down by 112,000 bpd last month compared to the previous month, the …
FRANKFURT, (Reuters) – Germany will face a steep recession if there is a stop to imports or delivery of Russian gas and oil, a top German bank lobby warned on Monday. Europe’s largest economy is heavily dependent upon Russia for energy, and nations banks echoed concerns over possible energy disruption expressed by big names in …
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Halting Russian oil and gas supplies to Germany would plunge Europe’s largest economy into recession, German banks have warned. According to a Reuters report, the BDB industry body expects a sharp decline in economic growth this year, to some 2 percent, because of the war in Ukraine—and that’s if supplies continue. “The situation would be …
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WASHINGTON – President Joe Biden on Monday called for a war crimes trial against Russian President Vladimir Putin and more sanctions against Russia following reports of atrocities in Ukraine. “You may remember I got criticized for calling Putin a war criminal. Well, the truth of the matter, you saw what happened in Bucha… He is a war …
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FRANKFURT (Reuters) – Gazprom Germania, an energy trading, storage and transmission business ditched by Russia’s Gazprom on Friday, will be transferred to Germany’s regulator to ensure energy security, Economy Minister Robert Habeck said on Monday. All voting rights in the company will be moved to the regulator, the Bundesnetzagentur, Habeck told a news conference. “The …
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(Reuters) – Russian output of oil and gas condensate fell to 11.01 million barrels per day (bpd) in March from 11.06 million bpd in February, according to Reuters calculations based on an Interfax report on Monday that cited an unnamed source. A Russian analytical unit affiliated with the Energy Ministry did not publish monthly oil …