Oil Prices Stay High as Russian Crude Shortage Hits Market
The de facto buyers’ strike on Russian crude that began a month ago propelled oil prices to their highest...
The de facto buyers’ strike on Russian crude that began a month ago propelled oil prices to their highest levels in years. Now the real effects are starting to create a second wave of impact on oil markets.
Oil is typically shipped around three weeks after a deal is struck, meaning that the drop in deal-making in the early days of the war led to real disruptions in supply starting in the past week. The turmoil is being strongly felt in Europe, where prices for diesel, which powers cars, trucks and tractors, have soared.
Germany is aiming to halve imports of Russian oil by mid-year while rapidly reducing its dependency on...
Germany is aiming to halve imports of Russian oil by mid-year while rapidly reducing its dependency on the nation’s gas and coal, Der Spiegel magazine reported, citing an Economy Ministry paper.
Russian gas could account for as little as 30 percent of imports by the end of the year, down from more than half currently, while the aim is to reduce oil imports almost to nothing by then, the magazine quoted the paper as saying. Purchases of Russian coal should end by the early summer.
Elon Musk — officially the world's richest man — says he thinks 'Putin is significantly richer than me'
Elon Musk is the richest man on record, but...
Elon Musk is the richest man on record, but he thinks Putin could be richer.
The Tesla CEO retook his title as the richest person in the world in late 2021, when he passed Amazon's Jeff Bezos.
"How do you feel, being - at a net worth of $260 billion roughly - perceived as the richest person on earth?" Mathias Döpfner, the CEO of Insider's parent company, Axel Springer, asked Musk during a recent interview.
"I do think that Putin is significantly richer than me," Musk replied
🔥From Twitter: a former oil mogul and political prisoner says Vladimir Putin is a “thug”
Vladimir Putin is a “thug”, says...
Vladimir Putin is a “thug”, says Mikhail Khodorkovsky, a former oil mogul and political prisoner. The West must face him down now or prepare for something worse, he warns in a guest essay for The Economist https://t.co/at6d8QyQtL
U.S. stocks zigzag late Friday, but end mostly higher and book weekly gains
U.S. stocks zigzagged Friday to end mostly higher heading into the weekend after reports of a Saudi oil...
U.S. stocks zigzagged Friday to end mostly higher heading into the weekend after reports of a Saudi oil refinery attack pushed elevated crude prices higher. The three major equity also booked another week of gains. The Dow Jones Industrial AverageDJIA,advanced about 153 points, or 0.4%, ending near 34,861 Friday, but was up 0.3% for the week. The S&P 500 indexSPX advanced 0.5% for the session, while the Nasdaq Composite Index COMP, -0.16% fell 0.2%. For the week, the S&P 500 rose 1.8% and the Nasdaq gained 2%, according to FactSet. Oil prices Brent Crude CL00, +0.25% rebounded Friday after news reports of a missile strike on a Saudi Aramco facility, with the U.S. crude benchmark settling at $113.90 a barrel. Investors also continued to weigh the path higher for policy rates, with New York Federal Reserve President John Williams saying Friday he would support a half-point move if justified but indicated it was premature to make a call on the size of a future rate increase.
