From Twitter: Russian Oil Production Set to Drop 25% Next Month📉
OIL MARKET: Russian oil production is...
OIL MARKET: Russian oil production is likely to drop by ~25% next month (that's about 3m b/d), according to fresh estimates published today by the @IEA, due to the impact of sanctions and, above all, "self-sanctioning" | #OOTTpic.twitter.com/o0LXX3ZJ5f
The Organization of Petroleum Exporting Countries warned that Russia's invasion of Ukraine and rising...
The Organization of Petroleum Exporting Countries warned that Russia's invasion of Ukraine and rising inflation due to higher commodity prices could weaken global oil demand and economic growth, although it stopped short of revising its oil demand, supply, and economic growth forecasts for 2022. The cartel said projections are fluctuating almost on a daily basis due to "the complexity of the situation, the speed of developments, and fluidity of the market."
Dow industrials surge more than 400 points with investors focused on Fed’s first interest-rate hike in 4 years
U.S. stocks climbed on Wednesday, extending the previous session’s rally, as traders awaited...
U.S. stocks climbed on Wednesday, extending the previous session’s rally, as traders awaited a monetary-policy decision from the U.S. Federal Reserve.
Investors also watched Ukraine-Russia developments, as Ukrainian President Volodymyr Zelensky delivered a historic address to the U.S. Congress, calling for support from America to defend itself against attacks from Moscow.
The Dow Jones Industrial Average DJIA, 0.92% rose 430 points, or 1.3%, to 33,974.
The S&P 500 SPX, 1.31% gained 1.4%, or 62 points, to around 4,325.
The Nasdaq Composite Index COMP, 2.02% rose 1.8%, or 234 points, to 13,183.
On Tuesday, the Dow rose 599 points, or 1.82%, to 33544, the S&P 500 increased 89 points, or 2.14%, to 4262, and the Nasdaq Composite gained 367 points, or 2.92%, to 12949.
Natural gas futures bounced back this morning (up 13.7 cents...
Natural gas futures bounced back this morning (up 13.7 cents at $4.70) following two straight days of heavy declines, inching back ahead of tomorrow's storage report and despite moderate weather forecast in key consuming regions.
The energy sector is set for a higher start, supported by strength in the major equity futures and underlying...
The energy sector is set for a higher start, supported by strength in the major equity futures and underlying commodities. U.S. stock index futures surged this morning on signs of progress in Ukraine-Russia peace talks, while investors braced for a widely expected Federal Reserve interest rate hike later in the day. The U.S. Federal Reserve is expected to raise rates for the first time in three years and give guidance on future tightening. Investors are expecting the central bank to raise rates by at least 25 basis points.
WTI and Brent crude oil futures turned higher this morning following three straight days of heavy declines, hovering around the $100-mark. Futures however initially came under pressure from signs of progress in Russia-Ukraine peace talks, Chinese lockdown concerns and a closely-watched report that cut its forecast of world demand. On the heels of OPEC’s announcement yesterday which held its forecast steady, the IEA issued its monthly report this morning and cut its oil demand forecast for 2022. Ukraine's president said the positions of Ukraine and Russia were sounding more realistic, but time was needed while Russia's foreign minister said some deals with Ukraine were close to being agreed upon.
