Saudis Unwilling To Upset Putin As Biden Begs For More Crude

Saudis Unwilling To Upset Putin As Biden Begs For More Crude

The world’s largest crude oil exporter, Saudi Arabia, continues to keep close ties with Russia while the top oil consumer, the United States, pleads with major producers — including the Kingdom — to boost supply to the market and help ease consumers’ pain at the pump. While the US and its Western allies are sanctioning … Read more

How Much Is China Helping Russia Finance Its War In Ukraine?

How Much Is China Helping Russia Finance Its War In Ukraine?

China’s growing appetite for discounted Russian oil has made it the leading financier of the Kremlin’s war in Ukraine by giving Moscow a reliable revenue source that blunts the impact of tough Western sanctions against its economy. Four months after Moscow’s invasion of Ukraine, China has overtaken Germany as the biggest single buyer of Russian … Read more

Russia’s ruble is at its strongest level in 7 years despite sanctions

Russia’s ruble is at its strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest … Read more

Europe turns to coal as Russia squeezes gas supplies

Europe turns to coal as Russia squeezes gas supplies

German Economy Minister Robert Habeck has warned that the situation is going to be “really tight in winter” without precautionary measures to prevent a supply shortage. Ina Fassbender | Afp | Getty Images Reduced flows of Russian gas and the specter of a full supply disruption have prompted some European governments to reconsider coal, one … Read more

Russia declares gas war on EU – POLITICAL

Russia declares gas war on EU – POLITICAL

Press play to listen to this article Russian President Vladimir Putin is playing hardball with the European Union – cutting off gas deliveries to some of Russia’s best customers in a howl of rage at the sanctions imposed after invading Ukraine. It’s putting enormous political pressure on governments, threats to leave Europeans freezing if this … Read more

Russia Again Cuts Natural Gas Exports to European Countries

Russia Again Cuts Natural Gas Exports to European Countries

PRAGUE — Russia reduced natural gas to Europe again Friday, including cutting flows by half to Italy and Slovakia and completely to France, as countries have worked to ease their dependence on Russian supplies amid the war in Ukraine. It marks the third day of significant reductions to the fuel that powers industry and generates … Read more

Russia puts the gas squeeze on France and Italy – POLITICO

Russia puts the gas squeeze on France and Italy – POLITICO

Russia’s Gazprom has cut gas deliveries to France and Italy, just days after their leaders were in Kyiv to formally back Ukraine’s bid to join the EU. That’s raising alarm that a slowdown in deliveries could derail EU efforts to build up supplies ahead of next winter and protect the bloc from Russian energy blackmail. … Read more

A Week Of Turmoil For Oil Markets

A Week Of Turmoil For Oil Markets

There has been plenty of turmoil in oil markets this week, with the EU banning Russian oil, OPEC accelerating its production increases, and US inventories dropping once again. At the end of the week, sentiment is decidedly bullish, with OPEC unable to calm the oil price rally. Oilprice Alert: This month’s Intelligent Investor column, now … Read more

Companies that exited Russia after its invasion of Ukraine are being rewarded with outsize stock-market returns, Yale study finds – and those that stayed are not

Companies that exited Russia after its invasion of Ukraine are being rewarded with outsize stock-market returns, Yale study finds – and those that stayed are not

The almost 1,000 companies that have opted to pull out of Russia following its unprovoked invasion of Ukraine are not just benefiting from a reputational boost. They are also being rewarded by financial markets, while those who remain behind are being punished. “We find that equity markets are actually rewarding companies for leaving Russia while … Read more