Category: Commodities
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U.S. Treasury Vows to Ramp Up Sanctions Crackdown on Russia’s Evasion Facilitators
The U.S. Treasury Department Takes Sanctions Evasion Seriously The United States Treasury Department has said that they will be concentrating heavily in the upcoming months on targeting intermediaries and third-party providers who are assisting Russia in evading Western sanctions. At a gathering of academics and specialists on sanctions and U.S. foreign policy, Wally Adeyemo, the […]
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Crude oil prices rise as Russia reveals supply reduction plans.
The announcement that Russia will cut oil output in response to Western pricing limitations on the nation’s petroleum goods drove up oil prices on Friday. Futures were trading 0.9% higher at $78.72 a barrel at 09:15 ET (14:15 GMT), while the contract was up 1.1% to $85.39 a barrel. Russian oil production will be reduced […]
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Crude Prices Soar as Russia Strikes Back Against Western Oil Restrictions
In response to Western price caps, Russia reduces its oil production. After Russia indicated that it will reduce its oil output by 500,000 barrels per day in March in response to western price limitations, crude oil prices rose significantly on Friday. The action was taken in reaction to the Group of Seven’s price limitations for […]
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As he cancels high gas price wagers, a senior trader argues that Putin has lost the energy battle.
According to Pierre Andurand, one of the best energy merchants in the world, Russian President Vladimir Putin has “lost the energy battle” and the worst of the European gas and electricity crisis is over. With Europe quickly adapting to life without Russian gas, Andurand, whose energy-focused hedge funds have seen three bumper years of returns […]
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EU leaders decide to help the green industry temporarily and strategically.
On February 9, 2023, Olaf Scholz, the chancellor of Germany, will attend a summit of European leaders in Brussels, Belgium. BRUXELLES – In order to secure Europe’s future as a manufacturing hub for green technology goods and to compete with the United States and China, European Union leaders decided on Friday that “targeted, temporary, and […]
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Oil prices decline following a three-session increase.
After three straight sessions of gains, oil futures started to decline on Thursday. market forces Prices should have decreased the day before, he claimed, if the pessimistic oil supply statistics had been to blame. For the seventh consecutive week, U.S. crude stockpiles increased by 2.4 million barrels, according to data released on Wednesday by the […]
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Oil Markets in Turmoil: Prices Slip as U.S. Crude Inventories Rise
The Price of Oil Drops On the New York Mercantile Exchange, the price of West Texas Intermediate crude for March delivery (CL CL00 CLH23) fell by $1.48, or 1.9%, to reach $76.99 a barrel. Worldwide Benchmark Similar to this, April Brent crude (BRN00 BRNJ23), the industry standard, fell $1.45 or 1.7%, closing at $83.64 a […]
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Kremlin demands punishment for individuals responsible for the Nord Stream explosions.
FILE PHOTO: On September 27, 2022, gas bubbles from the Nord Stream 2 leak could be seen near Bornholm, Denmark, disrupting the surface of the Baltic Sea and measuring well over one kilometer in diameter. RUSSIA – After an investigative journalist claimed that American divers blew up the Nord Stream gas pipelines at the White […]
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A rebound in Chinese demand and strong U.S. stocks keep oil prices stable.
On August 12, 2022, a view of the Chao Xing ship at the crude oil terminal Kozmino on the Nakhodka Bay shoreline in the port city of Nakhodka, Russia, is shown in a file photo. SG – Singapore Oil prices remained largely unchanged on Thursday as concerns that inventories reaching their highest levels in months […]
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Oil Prices Tread Water Amid Hawkish Fed Comments and Supply Glut Fears
Despite hawkish Fed comments and US crude builds, oil prices remain stable. On Thursday, the oil market had a subdued performance as hawkish remarks by Federal Reserve officials bolstered the US currency and stoked worries about impending interest rate increases. This therefore affected crude market prices. Stronger US jobs data’s impact on oil prices Stronger-than-anticipated […]