MOSCOW (Reuters) -The Kremlin said on Friday that Russia would stop selling oil to countries that impose price caps on Russia’s energy resources – caps that Moscow said would lead to significant destabilisation of the global oil market. “Companies that impose a price cap will not be among the recipients of Russian oil,” Kremlin spokesman …
Continue reading “Gazprom: Nord Stream gas pipeline fully halted”
Sept 2 (Reuters) – Group of Seven finance ministers are expected to firm up plans on Friday to impose a price cap on Russian oil aimed at slashing revenues for Moscow’s war in Ukraine but keeping crude flowing to avoid price spikes, G7 officials said. The ministers from the club of wealthy industrial democracies are …
A “superbubble” appears dangerously near its “final act” after the recent rally in U.S. stocks lured some investors back into the market just ahead of potential “tragedy,” according to Jeremy Grantham, the legendary co-founder of Boston-based investment firm GMO. Grantham, who has repeatedly warned investors of a bubble in markets, said in a paper Wednesday …
August jobs report may once again carry risks for stocks, but in a ‘less intense’ way than last Friday’s Powell speech With Federal Reserve Chair Powell last week reaffirming plans to keep raising interest rates to bring down inflation despite the risk of recession, Friday’s monthly U.S. jobs report may once again carry risks for …
Continue reading “If Friday’s jobs report is ‘Too hot’ stocks could tumble”
Tehran, IRNA – The CEO of the National Iranian Oil Company (NIOC) and deputy oil minister of Iran said that Iran’s oil production capacity will increase by 200,000 barrels per day by the end of the current Iranian year, which began on March 21, and reach 4.038 BPD by late March 2023. Mohsen Khojastehmehr told …
Continue reading “Iran to raise oil production capacity by 200,000 bpd by early 2023”
Bostic Says Fed Has ‘Work to Do’ With Inflation Long Way From 2% “Inflation is high, inflation is too high and we have got to bring it down to our target,” he said Thursday during a classroom session with students at Georgia Tech in Atlanta, noting that the current pace of inflation was a long …
Continue reading “Bostic: Fed must get the US economy to slow down”
Iran said back-and-forth exchanges with the US over a European Union proposal to revive the nuclear deal will drag on into September. Iran will take “at least” until Sept. 2 to respond to the Biden administration’s comments on an EU-drafted text aimed at salvaging the 2015 pact, state-run Nour News said in a tweet on …
The US called Iran’s response to the latest effort to revive the 2015 nuclear accord “not constructive,” raising questions about whether the two sides can reach a deal that would free more oil for global markets. Vedant Patel, a department spokesperson, didn’t elaborate on the remarks Thursday night, but added that US officials were still …
Continue reading “Stupid deal US: Iran’s response on nuclear deal ‘not constructive’”
Californians were told Wednesday not to charge their electric vehicles during peak hours, just days after the state said it would stop selling gas-powered cars, as the aging electricity grid struggles with a fearsome heatwave. Temperatures as high as 112 degrees Fahrenheit (44 degrees Celsius) were forecast in some Los Angeles suburbs as a huge …
https://youtu.be/v5UCmsXpngA Charlie Munger warns about the biggest inflationary bubble in world history bursting and shares his thoughts on how it is going to unfold. He elaborates on the difficulty of building wealth for the young generation of today compared to his. Charlie says that we’re flirting with serious trouble and the consequences may be worse …