From Twitter: Russian Stock Market is Down and Out
After yesterday's huge loss, reports today are that the Russian Stock Market is now closed indefinitely....
After yesterday's huge loss, reports today are that the Russian Stock Market is now closed indefinitely.
The Russian stock market lost all of its gains from the past 4 years in a single day today. The Dow Jones was up 0.28%. Which shows you the sheer scale of the economic mismatch between Russia and the US & EU. pic.twitter.com/DBBzLlKb6e
Freight rates are soaring as crude buyers struggle to find shippers willing to send their vessels into...
Freight rates are soaring as crude buyers struggle to find shippers willing to send their vessels into Russian ports because of the shelling in and around Ukraine.
The rate to book an Aframax vessel to load at one of Russia’s Baltic Sea ports to western Europe almost tripled on Thursday from the previous day, according to traders and shipbrokers. The bulk of Russia’s flagship Urals crude that loads in the northern European ports is usually sold to western buyers, although they sometimes go into China and India.
On Thursday, freight rates for cargoes from the Persian Gulf to the U.S. Gulf coast rose 12% from a day earlier. Middle East cargoes are likely to benefit further as an alternative that avoids the conflict zone around the Black Sea, according to the traders.
The energy sector is set for a lower start, pressured by weakness in the crude complex and despite gains...
The energy sector is set for a lower start, pressured by weakness in the crude complex and despite gains in major equity indices as futures reversed and investors continued to assess the risks stemming from Russia’s invasion of Ukraine. A slew of earnings across E&Ps, services and pipelines will add further inputs for investors to weigh.
WTI and Brent crude oil futures are down in early trading on concerns over potential global supply disruptions from sanctions on major crude exporter Russia. President Joe Biden said the United States is working with other countries on a combined release of additional oil from global strategic crude reserves. The plan would be in addition to a coordinated release of oil stockpiles with China and other Asian consumer countries organized by Washington last November to combat energy inflation. So far, the United States has released about 50 million barrels of oil from its Strategic Petroleum Reserve through sales and exchanges, while China has mostly held off from releasing its oil. Britain, Japan, Canada, Australia and the European Union also unveiled sanctions, including a move by Germany to halt certification of an $11 billion Russian gas pipeline. However, Russia will not have its oil and gas flows specifically targeted by sanctions as the country is the world's second-largest crude producer and a major natural gas provider to Europe.
Natural gas futures are lower in early trading as the NOAA 6-10 day and 8-14 day forecast show near normal temps for northern mid-west and above-normal temps for the eastern portion of US.
Reuters: 🔥Oil tops $105/bbl after Russia attacks Ukraine
Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time...
Oil prices jumped on Thursday, with Brent rising above $105 a barrel for the first time since 2014 before easing, after Russia's attack on Ukraine exacerbated concerns about disruptions to global energy supply.
Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against another in Europe since World War Two. read more
Global benchmark Brent crude rose $2.24, or 2.3%, to settle at $99.08 a barrel, after touching a high of $105.79.
U.S. West Texas Intermediate (WTI) crude rose 71 cents, or 0.8%, to settle at $92.81 a barrel, after earlier rising to $100.54.
Stocks close higher after reversing sharp early declines due to Ukraine invasion
Major U.S. stock indexes recovered considerable ground on Thursday to end higher, despite...
Major U.S. stock indexes recovered considerable ground on Thursday to end higher, despite stumbling early in the session after Russia launched a military assault on Ukraine. The Dow Jones Industrial Average DJIA, +0.28% flipped positive in the final 15 minutes of trade, adding about 90 points, or 0.3%, to end near 33,222. The S&P 500 SPX, +1.50% gained 1.5% and the Nasdaq Composite Index COMP, 3.34% booked a 3.3% gain. The rally came as oil pricesCL00, 1.18% climbed and bond yields tumbled, putting the 10-year Treasury rate below 2%. Investors attributed the turnaround for stocks partly to President Joe Biden's new sanctions imposed Thursday on Russian banks, companies and elites from doing business in western markets, with the aim of cutting short Russian hostilities in Ukraine.
