Russia to Halt Gas to Poland on Wednesday in Major Escalation
(Bloomberg) Russia will halt gas flows to Poland on Wednesday in a major escalation...
(Bloomberg) Russia will halt gas flows to Poland on Wednesday in a major escalation in the standoff between Moscow and Europe over energy supplies and the war in Ukraine.
Moscow appears to be making good on a threat to cut off gas supplies to countries that refuse Vladimir Putin’s new demand to pay in rubles. Europe has said that doing so would breach sanctions and strengthen Russia’s hand unacceptably. Poland has been particularly vociferous in its criticism of Russia over the war.
Poland’s main gas supplier PGNiG said it has been informed that all flows will stop from Wednesday. Minutes earlier, Russian gas giant Gazprom issued a warning that Poland must pay up for its gas supplies on Tuesday -- in the Russian currency.
Brent and West Texas Intermediate oil futures recovered...
Brent and West Texas Intermediate oil futures recovered to $105.48 and $102.02 per barrel, respectively, on Tuesday at 12:49 PM ET, after shedding as much as $6 to $7 per barrel during Monday's session. The decline was caused by concerns that China's COVID-19 restrictions will dent fuel demand.
An analysis conducted by the American Gas Association indicates that lower-than-average underground natural...
An analysis conducted by the American Gas Association indicates that lower-than-average underground natural gas storage inventories and the supply/demand mismatch during winter are among the factors fueling the rise in gas prices. US gas production could hit a record 97 billion cubic feet per day by December and market signals suggest prices will soften in the coming months, the analysis notes.
Spain received a load of US crude oil from a supertanker for the first time in more than six years as...
Spain received a load of US crude oil from a supertanker for the first time in more than six years as the US steps up supertanker deliveries to Europe to offset the loss of Russian crude. Vortexa chief economist David Wech expects increased supertanker use between the US and Europe "as the continent's buyers seek to max out alternatives to Russian oil."
Dow falls over 400 points as stock market fails to build on Monday bounce ahead of megacap tech earnings
U.S. stocks fell sharply Tuesday, failing to build on the previous session’s intraday bounce,...
U.S. stocks fell sharply Tuesday, failing to build on the previous session’s intraday bounce, as investors sifted through a raft of corporate results and awaited earnings due after the bell from megacap tech giants, including Microsoft and Google owner Alphabet.
The Dow Jones Industrial Average DJIA was down 414 points, or 1.2%, at 33,636.
The S&P 500 SPX was down 69 points, or 1.6%, at 4,227.
The Nasdaq Composite COMP lost 362 points, or 2.8%, to trade at 12,643.
Monday saw the biggest intraday reversal since February for the Dow, which rose 238 points, or 0.7%, erasing a loss of nearly 500 points. The S&P 500 rose 0.6%, and the Nasdaq Composite gained 1.3%.
