The Biden administration is considering a plan to tap as much as 180 million barrels of oil from the...
The Biden administration is considering a plan to tap as much as 180 million barrels of oil from the Strategic Petroleum Reserve over several months, which would be the largest release in the reserve's history, to counter the rise in energy prices following Russia's invasion of Ukraine, according to sources familiar with the matter. Reports of the plan sent Brent and West Texas Intermediate crude prices down 3.6% and 4.9%, respectively, in early trading today.
From MarketWatch: U.S. stocks end lower after dampened hopes for breakthrough in Russia-Ukraine peace talks
All three major U.S. stock benchmarks closed lower Wednesday, with the Dow Jones Industrial...
All three major U.S. stock benchmarks closed lower Wednesday, with the Dow Jones Industrial Average and S&P 500 snapping four-day winning streaks after Russia indicated no breakthrough in peace talks with Ukraine and oil prices climbed. The Dow DJIA, -0.19% fell 0.2%, the S&P 500 SPX, -0.63% slid 0.6% and the Nasdaq Composite COMP, -1.21% dropped 1.2%, according to preliminary FactSet data. Russian forces also shelled areas around Ukrainian capital Kyiv and the northern city of Chernihiv despite Russia's announcement Tuesday that it would significantly scale back military operations near those two areas, according to Associated Press reports. In oil futures, West Texas Intermediate crude for May delivery CLK22, +2.91% rose 3.4% to settle at $107.82 a barrel. Investors also weighed a recession warning sent by the bond market Tuesday, when part of the yield curve briefly inverted.
Dow Jones Newswires: Germany’s inflation hits highest level in more than 40 years
Germany's annual rate of inflation rose in March at a faster pace than in February, beating forecasts...
Germany's annual rate of inflation rose in March at a faster pace than in February, beating forecasts and posting the highest reading since the autumn of 1981,👀 according to preliminary data released by the German statistics office Destatis on Wednesday.
‘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...
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.
