India in talks to import Russian oil from Rosneft. increase

India aims to double its Russian oil imports, with state-owned refineries eager to supply more discounted supplies Rosneft PJSC, as international buyers reject transactions with Moscow over the invasion of Ukraine. State processors are jointly working to finalize and secure new six-month supply contracts for Russian crude to India, people with knowledge of the companies’ … Read more

Germany girds for day of reckoning in Russian gas confrontation

When the worst-case scenario for Germany strikes, BMW AG, Mercedes-Benz AG and Volkswagen AG would struggle to paint their cars and the air across the country would get dirtier. Europe’s largest economy is bracing itself for the prospect of a sudden cut off of Russian natural gas, a shock that would trigger a form of … Read more

Trade in Russian oil will become more difficult from mid-May, says Vitol

According to the world’s largest independent crude oil trader, commodity companies will have a much harder time buying and selling Russian oil from mid-month as Europe tightens sanctions against Moscow for the invasion of Ukraine. Russian exports of crude oil and oil products are likely to have fallen by about 1 million barrels per day … Read more

Russia-Ukraine Talks Need Markets to Lose ‘Peace in Our Time’ Reflex

To get John Authers’ newsletter delivered directly to your inbox, sign up here. Could this mean peace in our time? Positive sounds about a possible ceasefire in Ukraine sparked a Tuesday surge in global stock markets, particularly in Europe. Oil prices took a dive, and ructions in the bond markets intensified. A Russian announcement that … Read more

Inside Story of Crude Oil Prices During Covid Period: Form -$40 to Nearly $100

The two-year Covid crisis put many markets on a wild ride—just look at US treasuries—but few have had a crazier time than crude oil: from total collapse in 2020 to the brink of $100 a barrel today. It’s not only the price swings that have shocked motorists, investors, CEOs and OPEC+ ministers alike. An entire … Read more

Sarcasm in Ukraine Roils Markets Swinging Between War, Peace

Subtlety has never been Wall Street’s strong suit, and when a dose of sarcasm crept into the high-stakes discourse around tensions between Russia and Ukraine, it briefly proved more than traders could process. Confusion reigned Monday afternoon, when media accounts of what appears to have been a tongue-in-cheek quip by Ukrainian leader Volodymyr Zelenskiy deriding … Read more

US Inflation Outlook Falls for First Time Since October 2020

US consumers don’t expect red-hot inflation levels to last in the long term. That’s the takeaway from data analysis by six co-authors including New York Fed President John Williams, who was listed as a co-writer in the regional Fed’s Liberty Street Economics blog series for the first time. †