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Energy giant Shell said Tuesday it would withdraw from its involvement in Russian gas and oil, including an immediate stop to purchases of crude from the country. The UK-based company also issued an apology for buying a cargo of Russian crude oil last week and said it would shut its service stations, aviation fuels and lubricants operations in the country. Shell said it would withdraw from its involvement in all Russian hydrocarbons “in a […]
LONDON, United Kingdom (AFP) — Stock markets lost ground while metals prices hit record highs and oil surged on Monday after the United States raised the prospect of an embargo on Russian crude — a move on which Europe urged severe caution. European markets seesawed after a four-percent fall in Hong Kong with Frankfurt losing two percent over the session as London and Paris kept losses in a narrower band. Wall Street was off just […]
HONG KONG, China (AFP) — Equity markets plunged Monday, while oil prices soared to a near 14-year high and safe-haven gold broke $2,000 as investors grew increasingly fearful about the impact of the Ukraine war on the global economy. Trading floors were a sea of red, while experts warned of a period of stagflation with the spike in crude likely to light a fire under already high inflation. The commodity at one point rocketed […]
Brent North Sea crude oil surges close to $140 per barrel, a near 14-year high LONDON, United Kingdom (AFP) — Europe and UK natural gas prices soared to record highs Monday on fresh supply fears after the United States proposed an embargo on Russian crude oil. Europe gas reference Dutch TTF rocketed more than 60 percent to reach an all-time peak of 345 euros per megawatt hour and UK gas hit an all-time pinnacle […]
BUENOS AIRES, Argentina (AFP) – Argentina and the IMF said Thursday they had reached agreement on a “pragmatic and realistic” plan for the country to repay a ruinous $44-billion debt. The economy ministry in Buenos Aires announced that a deal was struck on refinancing its debt in a way that “seeks to continue generating conditions of stability.” The deal — the details of which were ironed out between Argentine officials and IMF […]
Toyota and Volkswagen, the world’s two biggest auto manufacturers, said Thursday they would suspend operations at their production facilities in Russia, following the invasion of Ukraine. Toyota said it would halt work at its only factory in Russia and stop shipping vehicles to the country, citing “supply chain disruptions” linked to Moscow’s assault on Ukraine and Western sanctions. The world’s top-selling carmaker said its plant in Saint Petersburg produced around 80,000 vehicles last year, mainly […]
Brent oil hits $119.84 a barrel for the first time since early 2012 HONG KONG, China (AFP) — Stocks rose Thursday after Federal Reserve chief Jerome Powell said the bank would hike interest rates gradually to fight inflation, though oil marched towards $120 as the Ukraine conflict continues to roil energy markets. With the Russian invasion of its neighbour hammering all assets across the board as uncertainty reigns supreme, traders were given a much-needed […]
FRANKFURT, Germany (AFP) — German logistics giant DHL announced Wednesday it was stopping deliveries to Russia and Belarus, joining a growing list of Western businesses to cease operations in the countries after Moscow’s invasion of Ukraine. The “inbound services to Russia and Belarus have been suspended”, DHL said in a statement, adding that it was “not accepting shipments to those countries until further notice”. DHL, one of the world’s largest logistics groups, also closed […]
Crude surged past $113 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Russian President Vladimir Putin’s invasion of his neighbour has sent world markets into a spiral over the past week, further fraying nerves on trading floors caused by runaway inflation and tighter central bank monetary policies. The crisis has seen numerous countries hammer Moscow with a series […]
RIYADH, Saudi Arabia (AFP) — Saudi energy giant Aramco’s shares rose to a record high on Wednesday amid a surge in global oil prices following Russia’s invasion of Ukraine. Aramco’s stock was trading at 42.9 Saudi riyals ($11.4) in Riyadh, according to the Saudi Tadawul market website. The Gulf kingdom — the world’s top crude exporter — has remained the firm’s majority shareholder since a December 11, 2019 listing. © Agence France-Presse
HONG KONG, China (AFP) — Crude surged past $110 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Vladimir Putin’s invasion of his neighbor has sent world markets into a spiral over the past week, further fraying nerves on trading floors caused by runaway inflation and tighter central bank monetary policies. The crisis has seen numerous countries hammer Moscow with […]
US benchmark oil contract, West Texas Intermediate, soared more than 10 percent in value Tuesday, as Ukraine’s invasion by key producer Russia fuels fears over supplies. WTI reached $106.29 per barrel and European benchmark Brent North Sea crude surged more than nine percent to $107.44 — with both levels the highest in more than seven years. emb-bcp/kjm © Agence France-Presse
