Global stocks clung to their gains for the week on Friday but a heady cocktail of rising interest rates, high oil prices and no end to war in Ukraine kept a lid on the rebound as yields sent a warning signal for the economy.
Oil prices climbed 6% on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates.
State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to U.S. private equity firm EIG Energy Partners control of a natural gas pipeline that connects Bolivia and southern Brazil, three people with knowledge of the matter told Reuters.
Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic.
Oil prices rose on Friday but were on track for their biggest weekly declines since November after see-sawing on fears of escalating bans on Russian oil versus efforts to bring more supply to market from other major producers.
Australian and South African miners are exploring ways to supply coal and metals consumers in Europe scrambling for alternative sources to Russian supply, but logistics and cost constraints make it difficult to rapidly boost output, companies said.
A senior member of Russia’s ruling party has proposed nationalising foreign-owned factories that shut down operations in the country over what the Kremlin calls a special military operation in Ukraine.
Oil slipped towards $125 a barrel in volatile trading on Wednesday as investors assessed the U.S. ban of Russian oil imports and Russia announced a new ceasefire in Ukraine on Wednesday to let civilians flee.
Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of Tesla (TSLA.O) Chief Executive Elon Musk and other auto executives to roll out more affordable electric vehicles.
U.S. gasoline prices at the pump jumped 11% over the past week to the highest since late July 2008 as global sanctions cripple Russia’s ability to export crude oil after its invasion of Ukraine, automobile club AAA said on Sunday.
Global stocks clung to their gains for the week on Friday but a heady cocktail of rising interest rates, high oil prices and no end to war in Ukraine kept a lid on the rebound as yields sent a warning signal for the economy.
Oil prices climbed 6% on Thursday after the International Energy Agency (IEA) said three million barrels a day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to raise interest rates.
State-run Brazilian oil company Petrobras is close to reaching an agreement to sell to U.S. private equity firm EIG Energy Partners control of a natural gas pipeline that connects Bolivia and southern Brazil, three people with knowledge of the matter told Reuters.
Last year, when Brazilian President Jair Bolsonaro sacked the head of state-run oil company Petrobras amid a spat over domestic fuel prices, the market reaction was apoplectic.
Oil prices rose on Friday but were on track for their biggest weekly declines since November after see-sawing on fears of escalating bans on Russian oil versus efforts to bring more supply to market from other major producers.
Australian and South African miners are exploring ways to supply coal and metals consumers in Europe scrambling for alternative sources to Russian supply, but logistics and cost constraints make it difficult to rapidly boost output, companies said.
A senior member of Russia’s ruling party has proposed nationalising foreign-owned factories that shut down operations in the country over what the Kremlin calls a special military operation in Ukraine.
Oil slipped towards $125 a barrel in volatile trading on Wednesday as investors assessed the U.S. ban of Russian oil imports and Russia announced a new ceasefire in Ukraine on Wednesday to let civilians flee.
Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of Tesla (TSLA.O) Chief Executive Elon Musk and other auto executives to roll out more affordable electric vehicles.
U.S. gasoline prices at the pump jumped 11% over the past week to the highest since late July 2008 as global sanctions cripple Russia’s ability to export crude oil after its invasion of Ukraine, automobile club AAA said on Sunday.
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