Oil loses ground amid continued global recession fears
Oil prices slipped for their second consecutive day during trading earlier today as fears of a global...
Oil prices slipped for their second consecutive day during trading earlier today as fears of a global economic slowdown weighed on markets, although prices have gained some support from supply constraints caused by the Ukraine War. West Texas Intermediate was down 87 cents at $77.87 for November delivery, while international benchmark Brent crude futures were changing hands $1 down on $85.15.
Pressure in defunct Nord Stream 2 pipeline plunged overnight - operator
BERLIN, Sept 26 (Reuters) - Pressure in the Nord Stream 2 undersea gas pipeline from Russia to Germany...
BERLIN, Sept 26 (Reuters) - Pressure in the Nord Stream 2 undersea gas pipeline from Russia to Germany dropped from 105 to 7 bars overnight, a spokesperson for the pipeline's operator said, adding that the company did not know the cause of the drop.
The Russian-owned pipeline, which was intended to double the volume of gas flowing from St. Petersburg under the Baltic Sea to Germany, had just been completed and was filled with 300 million cubic metres of gas when German Chancellor Olaf Scholz canceled it shortly before Russia invaded Ukraine.
The Swiss-based operator, which has legally been wound up, said it had informed all relevant authorities and that the leak, if that were the cause, could not have been at the landing point in Lubmin, northern Germany. "If it were in Lubmin, you'd have heard it," the spokesperson said.
Russian stocks sank on Monday to levels not seen since 2017,...
Russian stocks sank on Monday to levels not seen since 2017, weighed down by a global market selloff, threats of more sanctions and signs of continued unrest after last week’s partial mobilization.
The MOEX, a closely watched benchmark of Russian stocks, fell as much as 10% on Monday and was last down around 6% to 1,953.16, marking the weakest level since June 2017, according to Trading Economics. The index is trading under 2,000 for the first time since February, with today’s drop the worst since Russia invaded Ukraine in late February.
