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. …
Continue reading “Markets Stocks, Bonds Fall After Hawkish Brainard Remarks: Markets Wrap”
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 …
Continue reading “Germany agrees to end reliance on Russia’s fossil fuels”
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 …
https://youtu.be/FsqNDbCuy_o Kremlin spokesman Dmitry Peskov said on Sunday that Russia is likely to extend its requirement of payments in rubles from gas to other exported goods. Peskov also warned that the sanctions against Russia could result in “the erosion of confidence in the dollar and the euro” and prompt other countries to “work out options …
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https://youtu.be/Pxhz-ATYFkU (Bloomberg) — Oil prices have fallen to levels that don’t reflect the risk of disruptions to Russian exports or the ability of China to keep the coronavirus pandemic under control, according to the world’s biggest independent crude trader. While Brent surged to almost $140 a barrel soon after Russia’s attack on Ukraine in late …
Continue reading “Oil Prices Don’t Fully Reflect Russian Supply Risks, Vitol Says”