Asian Buyers Trying to Back Out of Purchases of Russian Oil Grade
(Bloomberg) Asian oil refiners are shunning a major export-grade from the Russian Far East due to sanctions...
(Bloomberg) Asian oil refiners are shunning a major export-grade from the Russian Far East due to sanctions on a tanker company that ships the cargoes.
Buyers are now trying to back out of purchases of Sokol, which was sold out for May-loading two weeks ago, said people with knowledge of the matter. At least one shipment of the variety for loading in end-May has been canceled, with several other refiners trying to wind back purchases for June, said the people who asked not to be named due to the sensitivity of the information.
Sokol is being avoided due to the involvement of Sovcomflot PJSC, a Russian state-controlled firm that transports the crude produced at the Sakhalin-I project from the De-Kastri export terminal to customers in North Asia. The company’s tankers are struggling to get insurance from international firms after it was added to a list of U.K.-sanctioned entities, the people said.
Round raises $350M for startup bitcoin miner Crusoe
Crusoe Energy, a startup that powers its bitcoin mining with natural gas from oil wells that is usually...
Crusoe Energy, a startup that powers its bitcoin mining with natural gas from oil wells that is usually wasted by flaring it off, raised $350 million in a Series C funding round that will allow it to expand across the US and internationally. The startup was also awarded credit facilities that can go as high as $155 million.
Secondary buyers shun energy funds despite rising prices
Private-equity energy funds continue to attract limited interest from secondary buyers...
Private-equity energy funds continue to attract limited interest from secondary buyers despite sky-high oil and natural gas prices, as environmental concerns and pressure to divest from fossil fuels add to investor reluctance. However, activity could improve "if oil prices stay at the $100 a barrel level or above in the next three to six months," according to Solomon Owayda, the founding partner at secondary intermediary Mozaic Capital Advisors.
Closing prices for crude oil, gold and other commodities
Benchmark U.S. crude oil for June delivery fell $3.53 to $98.54 a barrel Monday. Brent crude...
Benchmark U.S. crude oil for June delivery fell $3.53 to $98.54 a barrel Monday. Brent crude for June delivery fell $4.33 to $102.32 a barrel.
Wholesale gasoline for May delivery fell 7 cents to $3.24 a gallon. May heating oil rose 15 cents to $4.09 a gallon. May natural gas rose 14 cents to $6.67 per 1,000 cubic feet.
Gold for June delivery fell $38.30 to $1,896 an ounce. Silver for May delivery fell 59 cents to $23.67 an ounce and May copper fell 13 cents to $4.45 a pound.
The dollar fell to 128.02 Japanese yen from 128.59 yen. The euro fell to $1.0709 from $1.0787.
MarketWatch: Dow ends up 240 points after staging huge reversal; Nasdaq jumps 1.3%
All three major U.S. stock benchmarks closed higher Monday, recovering from losses earlier in...
All three major U.S. stock benchmarks closed higher Monday, recovering from losses earlier in the trading session, as Treasury yields fell and investors appeared to shrug off concerns over China's Covid-19 lockdown. The Nasdaq Composite COMP, 1.29% led the way higher with a 1.3% gain, followed by the Dow Jones Industrial Average, which finished up 0.7%, according to preliminary FactSet data. The S&P 500 closed with a modest gain of about 0.6%, with mixed results across its 11 sectors. Information technology and communication services booked the biggest gains in the S&P 500 index, while energy was the worst-performing sector Monday, FactSet data show. Major stock benchmarks rose as the yield on the 10-year Treasury note TMUBMUSD10Y, 2.825% fell 8 basis points to 2.825%, the largest one-day decline since March 4 based on 3 p.m. Eastern Time levels, according to Dow Jones Market Data.
