Thu, March 28, 2024

Oil trading

Roubles

OMV Plans Ruble Accounts For Russia’s Ruble Only Gas Trade

OMV (OMVV.VI) is one of the top importers of Russian gas. The last Thursday, some resources have reported that OMV is now preparing to create ruble accounts at Gazprombank in Switzerland. On Wednesday, Russian energy giant Gazprom (GAZP.MM) informed Poland and Bulgaria that it would cut off gas supplies if they did not comply with …

OMV Plans Ruble Accounts For Russia’s Ruble Only Gas Trade Read More »

Why does Rosneft accept Rouble Payment Only?

Why does Rosneft accept Ruble Payment Only?

Five traders claimed on Monday that Russia’s (ROSN.MM) Rosneft failed to sell oil in a jumbo tender after requiring prepayment in rubles. This means that the country’s biggest oil giant will have to find methods to channel additional petroleum to Asian customers via private transactions. The collapse of the tender shows the Kremlin’s ongoing struggle …

Why does Rosneft accept Ruble Payment Only? Read More »

Indonesia plans to widen palm oil export ban

Indonesia plans to widen palm oil export ban

Indonesia stated its plans to widen its ban on exports of refined palm olein if it faces domestic shortages of the derivatives. The world’s biggest palm oil exporter prepares to halt refined, bleached, and deodorized (RBD) palm olein shipments. Nevertheless, the country would allow crude palm oil exports or other derivatives from Thursday. Accordingly, RBD …

Indonesia plans to widen palm oil export ban Read More »

Stocks around the world

European Stocks Fell, Let’s Find Out What Happened

European stocks suffered serious losses on the first day of the week. Stocks declined to a one-month low and commodity prices dropped on Monday on renewed concerns about rising interest rates and China’s sputtering economy, while Wall Street rose, reversing losses after Twitter agreed to be bought by the world’s wealthiest person. Fears regarding China’s …

European Stocks Fell, Let’s Find Out What Happened Read More »

Japan To Increase Budget By $21 B To Deal With Rising Living Costs

Japan To Increase Budget By $21B To Deal With Rising Costs

Japan’s governing coalition agreed on a supplemental budget on Thursday to help lower-income people and small businesses, signaling additional spending for the massively indebted country. It fights inflation for the first time in decades. In the first phase, Prime Minister Kishida’s Liberal Democratic Party-led administration plans to announce 1.5 trillion yen in relief measures on …

Japan To Increase Budget By $21B To Deal With Rising Costs Read More »

Chinese stocks and investors

Chinese Stocks Suffered the Biggest Losses

Stocks are susceptible to various risk factors. For example, stocks in Asia-Pacific were mixed on Thursday as investors continued to monitor the pandemic in China along with moves in the Japanese yen. Chinese stocks declined on Thursday. The Shanghai Composite dropped 2.26% to end its trading day at 3,079.81. The Shenzhen component declined 2.703% to …

Chinese Stocks Suffered the Biggest Losses Read More »

oil

Oil prices gain pace as supply concerns dominate

On Thursday, oil prices rebounded as concerns about lower economic growth and demand stagnation weighed against tightening supplies. Brent crude futures increased 1.76% or 1.85 points to $108.68 per barrel. The international benchmark ticked up from a 0.42% loss to $106.80 per barrel yesterday. Similarly, West Texas Intermediate oil contracts rose 1.77% or 1.82 points …

Oil prices gain pace as supply concerns dominate Read More »

crude

Crude oil ticks lower on mixed supply signals

On Thursday, crude prices declined as investors weighed a bigger-than-expected build in US oil stocks against tightening global supply. The Brent oil futures skidded 1.34% or 1.26 points to $107.57 per barrel. The international benchmark moved inversely from a gain of 3.96% to $108.78 per barrel yesterday. Similarly, US West Texas Intermediate contracts edged down …

Crude oil ticks lower on mixed supply signals Read More »

After The China's Commerce With Russia Is Slowing But Still Growing Ukraine Crisis, China Reaches Out To Its Asia

China’s Commerce With Russia Is Slowing But Still Growing

Beijing condemned Western sanctions on Russia following its invasion of Ukraine; hence, China’s overall commerce with Russia increased by more than 12% in March; it went down from February but still surpassed China’s total commerce growth. Chinese customs statistics showed on Wednesday that shipments to and from Russia grew 12.76 percent in March to $11.67 …

China’s Commerce With Russia Is Slowing But Still Growing Read More »

Stocks and various factors

European Stocks Plunged Due to a Combination of Factors

European stocks fell on Tuesday. They declined as traders monitored heavy selling in the banking sector as well as U.S. inflation data, and looked ahead to key central bank meetings. The pan-European Euro Stoxx 600 index fell 1% in early afternoon trade after clawing back some earlier losses. The German DAX declined 0.3% with the …

European Stocks Plunged Due to a Combination of Factors Read More »

Consumers In The US Paying More For Everything

Consumers in The US Paying More for Everything

Consumers in the United States are paying more for everything. In China, the problem of inflation is completely different. According to experts, persistent inflation in China narrows the opportunity for the People’s Bank of China to decrease interest rates and promote development. According to statistics released Monday, official gauges of producer and consumer prices in …

Consumers in The US Paying More for Everything Read More »

Russia’s Economy Has A $3.4 Billion Buffer Thanks To Fuels

Despite this, S&P downgraded Moscow to selective default,’ warning that the nation is unlikely to meet its foreign debt obligations. Since its war with Ukraine, Russia has added $3.4 billion in fresh oil and gas earnings to the fund that cushions its sanctions-hit economy as it moves closer to its first debt default since 1998. …

Russia’s Economy Has A $3.4 Billion Buffer Thanks To Fuels Read More »

Oil

Oil declines on the release of strategic reserves

On Monday, oil skidded after a second straight weekly plunge on plans to release record volumes of crude products from strategic stocks. Brent oil futures for June 22 slashed 3.15% or 3.25 points to $99.56 per barrel. The international benchmark reversed its Friday gain of 2.19% to $102.78 per barrel. Similarly, the West Texas Intermediate …

Oil declines on the release of strategic reserves Read More »

Stocks around the world

European Stocks Rose While Stocks in Asia Declined

European stocks strengthened their positions on Thursday as volatility continued following details of the U.S. Federal Reserve’s monetary tightening plans and the situation in Ukraine. The pan-European Stoxx 600 index rose 0.5% by mid-afternoon as U.S. Treasury yields fell from multi-year highs after four days of declines. Chemicals gained 1.3% to leas gains while oil …

European Stocks Rose While Stocks in Asia Declined Read More »