From MarketWatch: U.S. stocks end lower after dampened hopes for breakthrough in Russia-Ukraine peace talks
All three major U.S. stock benchmarks closed lower Wednesday, with the Dow Jones Industrial...
All three major U.S. stock benchmarks closed lower Wednesday, with the Dow Jones Industrial Average and S&P 500 snapping four-day winning streaks after Russia indicated no breakthrough in peace talks with Ukraine and oil prices climbed. The Dow DJIA, -0.19% fell 0.2%, the S&P 500 SPX, -0.63% slid 0.6% and the Nasdaq Composite COMP, -1.21% dropped 1.2%, according to preliminary FactSet data. Russian forces also shelled areas around Ukrainian capital Kyiv and the northern city of Chernihiv despite Russia's announcement Tuesday that it would significantly scale back military operations near those two areas, according to Associated Press reports. In oil futures, West Texas Intermediate crude for May delivery CLK22, +2.91% rose 3.4% to settle at $107.82 a barrel. Investors also weighed a recession warning sent by the bond market Tuesday, when part of the yield curve briefly inverted.
Dow Jones Newswires: Germany’s inflation hits highest level in more than 40 years
Germany's annual rate of inflation rose in March at a faster pace than in February, beating forecasts...
Germany's annual rate of inflation rose in March at a faster pace than in February, beating forecasts and posting the highest reading since the autumn of 1981,👀 according to preliminary data released by the German statistics office Destatis on Wednesday.
‘Find Roubles’ If You Want Russian Oil, Top Lawmaker Warns EU
Russia’s top lawmaker warned the EU on March 30 that if it wanted Russian natural gas then...
Russia’s top lawmaker warned the EU on March 30 that if it wanted Russian natural gas then it would have to pay in roubles, and cautioned that oil, grain, metals, fertilizer, coal, and timber exports could also soon be priced the same way.
After the West imposed crippling sanctions on Russia in response to the invasion of Ukraine, Russian President Vladimir Putin demanded that natural gas exported to Europe or the U.S. should be paid for in his country’s currency.
Europe, which imports about 40% of its gas from Russia and pays mostly in euros, says Russia’s state-controlled gas giant Gazprom is not entitled to redraw contracts. The G7 group of nations rejected Moscow’s demands this week.
New Analysis Signals Rough Waters Ahead for US Offshore Oil, Gas
As the clock ticks toward the end of the current five-year offshore oil and gas leasing program, a delay...
As the clock ticks toward the end of the current five-year offshore oil and gas leasing program, a delay in the next leasing program could put energy security and jobs as well as millions of dollars in local, state, and federal revenue at risk, according to industry groups.
The fiscal year 2023 Interior Department budget already indicates cause for concern. Expected revenue from existing offshore oil and gas rents and bonuses could nosedive by $370.4 million to only about $25 million. The last two offshore lease sales of the current program remain uncertain.
“The revenues that are projected suggest that there’s not going to be any lease sales probably until 2023,” Erik Milito, president of the National Ocean Industries Association (NOIA), said on March 29. “So, we’re already looking at the fiscal year 2024, according to the government’s current projections, for a potential next lease sale.”
