Markets & Industries
Musk calls to pump up oil and gas production - 03/07/2022
American entrepreneur Elon Musk has called for an immediate increase in oil and gas production, admitting that current volumes of green energy cannot replace Russian hydrocarbon exports. "It's hard to say this, but we need to increase oil and gas production immediately. Emergency times call for emergency measures," he wrote on Twitter. Prices of oil, gas and refined products, including petrol,...
IEA: Ukraine conflict may seriously affect energy security - 03/02/2022
According to the International Energy Agency, the military operation in Ukraine has not yet resulted in a global oil and gas market catastrophe, but it could have a significant impact on energy security. Russia is the world's top oil exporter, according to the report. In November 2021, OECD European countries (mainly of the EU, the UK, Switzerland, Norway, and Turkey) received 60 percent of...
IEA countries to discuss impact of conflict in Ukraine on oil market - 03/01/2022
International Energy Agency (IEA) countries will hold an extraordinary energy ministerial meeting on Tuesday, March 1, to discuss the impact of events in Ukraine on the oil market, IEA head Fatih Birol said. "We will hold an extraordinary IEA ministerial meeting tomorrow on the impact of Russian troops entering Ukraine on oil supplies and what role IEA members can play in stabilizing energy...
U.S. government debt yields fall amid situation in Ukraine - 03/01/2022
The yield on ten-year US Treasury bonds declined by 0.07 percentage point. During the Russian special operation in Donbass, the yield on 10-year US Treasury notes, which are regarded the benchmark and most popular government debt instruments in this nation, declined by 0.07 percentage points to 1.90 percent each year, according to CNBC. In addition, the 30-year bond yield fell by 0.06...
Value of India's crude oil imports exceeds $100bn this year - 02/28/2022
India's overall crude oil purchase cost for the current fiscal year (ending March 31) is expected to be more than $100 billion, nearly double the previous fiscal year's figure. The Press Trust of India news agency reported this on Sunday, citing statistics from the Petroleum Planning & Analysis Cell (PPAC), an Indian Ministry of Petroleum and Natural Gas think tank. This increase in import...
Gold futures hit one-year high - 02/24/2022
The Russia-Ukraine crisis pushed gold prices to their highest level in almost a year on Wednesday. Gold prices surged as tensions between Moscow and the West grew, owing to the possibility of Russian forces entering the Donbass and rising worries of a full-scale invasion of the Ukrainian territory. Gold futures for April raised by $3, or 0.2 percent, to $1,910.40 per ounce, the highest closing...
Goldman Sachs warns of possible drop in US stock market - 02/24/2022
Analysts at investment firm Goldman Sachs predicted a 6% drop in the US stock market and the S&P 500 index from their levels at the end of trade on February 18. Japanese and European corporations' assets will be hit the worst, says Bloomberg news agency. Goldman Sachs strategists based their calculations on the sensitivity of global assets to the ruble. They calculated that a 10% depreciation of...
JPMorgan forecasts nine consecutive Fed rate hikes - 02/22/2022
The U.S. Federal Reserve will raise rates for nine consecutive meetings, economists at JPMorgan Chase predict. JPMorgan Chase economists expect that the Federal Reserve (Fed) is likely to raise interest rates by 25 bps at nine consecutive meetings to try to lower inflation. That's what Bloomberg writes, citing an analyst report from a team led by economist Bruce Kasman. By early next...
FT: Major Western oil companies plan to buy back shares for $41B - 02/22/2022
The Financial Times (FT) reported that seven major Western oil and gas corporations - BP, Chevron, Shell, Eni, ExxonMobil, TotalEnergies, and Equinor - plan to buy back their shares for a total of $41 billion this year, according to RBC Capital Markets' projections. The total sum is slightly lower, at $38 billion, according to Bernstein Research. In any case, this is a new high since 2008, when...
Sequoia Capital to create $600M crypto fund - 02/18/2022
One of Silicon Valley's largest venture capital firms will create a fund for long-term crypto investments of up to $600m. Venture capital firm Sequoia Capital will create a special fund focused on liquid tokens and cryptocurrencies, Bloomberg writes, citing a statement from the firm. The size of the fund will range from $500 million to $600 million. The creation of a separate fund goes against...
