‘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 it would...
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.
Elon Musk's self-driving car project is on a road to nowhere. For years, Musk has said...
Elon Musk's self-driving car project is on a road to nowhere. For years, Musk has said that Teslas are just a software update away from driving themselves. But some automated driving experts think it won't happen anytime soon. Read what they’re saying.
Jobless claims rise to 3-week high of 198,000, but layoffs are still extremely low
The numbers: The number of Americans who applied for unemployment benefits last week...
The numbers: The number of Americans who applied for unemployment benefits last week rose to a three-week high of 198,000, but that number is still extremely low and shows little sign of rapidly accelerating layoffs. New U.S. applications for benefits increased by 7,000 from 191,000 in the prior week, the government said Thursday.
Economists polled by the Wall Street Journal had forecast new claims to total 195,000 in the seven days ending March 25. The numbers are seasonally adjusted.
Key details: Thirty of the 53 U.S. states and territories that report jobless claims showed a decrease last week, while 23 posted an increase.
S&P 500 ends above 4,000 mark, posts highest close in 3 weeks
U.S. stocks finished higher on Wednesday as investors awaited...
U.S. stocks finished higher on Wednesday as investors awaited an update on inflation due Friday that could help inform how many more rate hikes to expect from the Federal Reserve.
The S&P 500 index rose about 56 points, or 1.4%, ending near 4,027, according to preliminary FactSet data, the highest close since March 6. That was only days before the collapse of Silicon Valley Bank put a spotlight on risks in the U.S. banking system after the Fed’s yearlong stretch of quick rate hikes.
The Dow Jones Industrial Averagerose 1% and the Nasdaq Composite Indexclosed 1.8% higher.
The S&P 500’s information technology segment led daily gains for the index, ending up 2.1%, while its financials sector rose 1.5%, according to FactSet.
The energy sector is off to a higher start, supported...
The energy sector is off to a higher start, supported by strength in the crude complex and the major market futures. U.S stocks are expected to open higher as concerns about a banking crisis continued to dim and as investors brace themselves for a key inflation reading later this week which will provide more clues on the Fed’s monetary tightening policy.
WTI and Brent crude oil futures are extending gains for the third-consecutive session on export halts from Iraqi Kurdistan which raised concerns of tightening supply. Adding to the crude export halts which were announced on Saturday and amounted to 450,000 bpd, earlier today Norwegian oil firm DNO announced it had begun shutting down production at its fields in Kurdistan. The company’s fields averages output of 107,000 bpd in 2022, which equates to a quarter of Kurdish exports. Oil also gained support from easing concerns of future bank failures and a drop in U.S. crude inventories. The API reported crude stocks fell by 6.1 million barrels last week.
Natural gas futures are trading down on forecasts for warmer temperatures for most locations east of the Rocky Mountains and on high levels of output.
