Crude futures soared 4% on Friday as fears of supply halts intensified. Russia has threatened to cut its energy supply to Europe if price caps on its oil and gas are introduced. Prices were also supported by OPEC+’s decision to cut output in October, as well as a decline in United States oil rigs …
IAEA sounds alarm as ZNPP loses offsite power
UN sounds gravest alarm yet on fighting around Ukraine nuclear plant Shelling destroyed power infrastructure in the Ukrainian city of Enerhodar where staff operating the Russian-held Zaporizhzhia nuclear power plant live, posing a growing threat to the plant, the UN nuclear watchdog said on Friday. The plant’s offsite power lines, vital lines of defence against …
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Blinken: Iran’s latest response takes us backward
U.S. Secretary of State Antony Blinken insisted Friday that Iran’s latest proposal in the framework of negotiations to restore the nuclear deal “takes steps backwards” in returning to the pact. “We are not willing to accept an agreement that does not meet our basic requirements and continually tries to introduce extraneous demands that are not …
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European commission to propose price cap on Russian Gas
BRUSSELS, Sept 7 (Reuters) – The European Union’s executive proposed on Wednesday capping the price of Russian gas imports, among a series of emergency measures designed to limit consumers’ energy bills. European Commission President Ursula von der Leyen outlined five proposals she said could immediately affect “astronomical” prices. Energy ministers from the bloc’s 27 …
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Putin Threatens To Halt All Gas To Europe If Prices Are Capped
The prices of oil futures increased on Friday, as traders showed concerns over the possible cuts in the global supply of crude as the Western countries continued to pressure Russia with sanctions. The energy crisis has been raging in Europe as a result of Russia’s decision to halt its gas supplies to the European Union. …
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U.S. stock futures point to third day of gains ahead of next week’s inflation report
U.S. stock futures were pointing Friday to a third day of gains, as investors bet that tough talk from Federal Reserve officials now won’t prevent a pivot down the road. Futures on the Dow Jones Industrial Average YM00, 0.85% rose 228 points, or 0.7%, to 32089. Futures on the S&P 500 ES00, 0.92% gained 30.5 …
Euro leaps parity on ECB, world stocks hit one-week high
LONDON/SYDNEY, Sept 9 (Reuters) – The euro rose back above parity to a two-week high against the dollar on Friday following a large rate hike and hawkish comments from the European Central Bank, while a weaker dollar helped world stocks rise to a one-week high. The euro was plotting 1.5% gains for the week after …
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N. Korea will never give up its nuclear weapons – Kim
SEOUL, South Korea (AP) — North Korean leader Kim Jong Un stressed his country will never abandon the nuclear weapons it needs to counter the United States, which he accused of pushing to weaken the North’s defenses and eventually collapse his government, state media said Friday.Kim made the comments during a speech Thursday at North …
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ECB poised for another big rate hike as inflation soars
FRANKFURT, Sept 8 (Reuters) – The European Central Bank will raise interest rates again on Thursday to fight runaway inflation and, with a big move and a record one under consideration, the only question is by how much. Concerned that sky-high inflation is getting increasingly entrenched, policymakers are scrambling to keep a lid on the …
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Iran has enough uranium near weapons-grade for a bomb, IAEA report shows
VIENNA, Sept 7 (Reuters) – Iran’s stock of uranium enriched to up to 60%, close to weapons-grade, has grown to enough, if enriched further, for a nuclear bomb, a report by the United Nations nuclear watchdog showed on Wednesday. Passing that threshold is a milestone in the unravelling of the 2015 nuclear deal between Iran …
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