Russia’s stocks jumped on Thursday, the first day of trading in almost a month in the wake of its troops entering Ukraine, with gains in commodity stocks offset by a drop in a flagship bank and airline, in volatile trading backed by the promise of support from sovereign wealth fund money. The government said on…
Oil Jumps in Volatile Trade Amid CPC Pipeline Disruption
March 23, 2022
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Business & EconomycommoditiesCPCcrudeeconomic policieseconomyEuropeglobalKazakhMarketsOilpipelineRussia-Ukraine WarRussianstocksWorld
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LONDON—Oil prices rose in volatile trading on Wednesday, supported by disruption to Russian and Kazakh crude exports via the CPC pipeline. Brent crude futures were up $5.16, or 4.5 percent, at $120.64 a barrel at 1335 GMT. Prices had earlier fallen to a low of $114.45. U.S. West Texas Intermediate (WTI) crude futures rose $4.83,…
US Markets Drift Lower in Premarket as Biden Heads to Europe
NEW YORK—U.S. markets edged lower in advance of the market open Wednesday as President Joe Biden heads to Europe for a NATO meeting and EU Summit Thursday. The futures for the Dow Jones Industrials fell 0.4 percent Wednesday and the same for the S&P 500 slipped 0.5 percent. Global shares were mixed, with Asia mostly…
Gold Slips 1 Percent as Powell’s Hawkish Stance Bolsters Yields
Gold prices fell over 1 percent on Tuesday after the U.S. Federal Reserve Chair Jerome Powell hinted at big rate hikes down the year to curb soaring inflation, sending Treasury yields higher. Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost of holding non-yielding bullion. Spot gold XAU= was…
Possibility of 50 Basis Point Fed Hike Pushes Yen and Euro Down
March 22, 2022
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Business & EconomycommoditiescrisiscryptocurrencyCurrencieseconomic policieseconomyEuropeFedForexglobalMarketsratesRussia-Ukraine WarstocksUkraineWorld
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LONDON—The dollar rose on Tuesday as Federal Reserve Chair Jerome Powell put the possibility of 50 basis point rate hikes on the table, while the yen fell below the psychological 120 level as the Bank of Japan reiterated its support for ultra-loose monetary policy. The euro was also under pressure, sliding to an almost one-week…
Oil Rises Towards $116 as EU Weighs Russian Ban
March 22, 2022
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Business & EconomycommoditiescrisisEuropeglobalMarketsOilRussiaRussia-Ukraine WarsanctionstocksWorld
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LONDON -Oil rose towards $116 a barrel on Tuesday, adding to a 7 percent surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in banning Russian…
European Stocks Edge Higher, Yields Rise as Markets Adjust Rate Expectations
March 22, 2022
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Business & EconomycommoditiescrisiscryptocurrencyEuropeglobalMarketsRussiaRussia-Ukraine WarstocksUkraineWorld
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LONDON—European stock indexes opened slightly higher on Tuesday, while U.S. and European government bond yields rose to new multiyear highs as investors adjusted their expectations for rate hikes following hawkish comments from the U.S. Federal Reserve. Fed Chair Jerome Powell said that the central bank could move “more aggressively” to raise rates to fight inflation,…
Oil Prices Jump Again as EU Considers Russian Oil Ban
LONDON—Oil prices jumped more than $3 on Monday, with Brent crude climbing above $111 a barrel, as European Union nations considered joining the United States in a Russian oil embargo and after a weekend attack on Saudi oil facilities. Brent crude futures were up $3.40, or 3.2 percent, at $111.33 a barrel by 0958 GMT,…
Shares Ease as Ukraine Fighting Rages On, Oil Climbs
MILAN—Stock markets around the world slipped on Monday as fighting in Ukraine raged on with no sign of a ceasefire even as diplomatic efforts continued, while Brent crude prices climbed above $110 a barrel as supplies remained tight. Turkey’s foreign minister said on Sunday that Russia and Ukraine were nearing agreement on “critical” issues and…
Oil Continues Rally as Russia-Ukraine Talks Stall
LONDON—Oil prices extended their gains on Friday at the end of a third volatile week of trade after slim progress in peace talks between Russia and Ukraine raised the specter of prolonged disruption to oil supply. Brent crude futures rose $1.14, or 1 percent, to $107.78 a barrel at 1003 GMT, after surging nearly 9…
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