Ukraine crisis

The U.S. extended a limited license held by Chevron Corporation (NYSE: CVX), allowing it to maintain its operations in Venezuela and negotiate future business. Previously the company couldn't directly negotiate with any officials sanctioned by the U.S., Wall Street Journal writes...

Russia has cut natural gas supplies to a unit of Gazprom PJSC (OTC: OGZPY) seized by Germany in retaliation for western penalties over the war in Ukraine. German Economy Minister Robert Habeck said that Gazprom Germania GmbH and its subsidiaries are no longer receiving all contracted...

The International Energy Agency members have become worried that U.S. President Joe Biden is using the Strategic Petroleum Reserve (SPR) to put a cap on domestic inflation for political reasons, Reuters reported citing two sources. According to the sources, the agency said the reserve...

Governments are pushing oil and gas producers to increase output, with prices hovering around $100 a barrel amid a worldwide supply shortage, writes Reuters. The shortage of workers limits how much producers in the U.S. and Canada can increase oil output as governments try to find ways to...

On Wednesday, oil was steady after Russia cut gas supplies to Bulgaria and Poland. However, lingering concerns about Asian COVID-19 related lockdowns (especially in China) weigh on economic growth, and oil demand constrains the prices, writes Reuters. Brent crude futures rose $0.26, or 0...

U.S. oil refiners expect first-quarter solid earnings on boosted margins on gasoline and diesel due to a steep dropoff in refining capacity and tightened crude oil supplies because of Russia's war with Ukraine, writes Reuters. During the coronavirus pandemic, refining capacity worldwide...

Within the coming days, U.S. President Joe Biden is expected to announce another military aid package for Ukraine about the same size as the $800 million one last week, Reuters reported citing familiar sources. One U.S. official said a new package was expected that would be roughly the...

The International Monetary Fund has warned of more market sell-offs as central banks attempt to combat higher inflation and ease back on pandemic stimulus measures. Market players started 2021 on an optimistic note, predicting some economic momentum amid the easing of COVID-19 restrictions, which...

The International Energy Agency (IEA) has lowered its global oil demand forecast amid surging coronavirus cases in China and weaker than expected demand in the U.S. and other developed countries.  According to the Financial Times report, The agency now expects demand to average 99.4 million...

FedEx Corporation (NYSE: FDX), Uber Technologies Inc (NYSE: UBER), and Lyft Inc (NASDAQ: LYFT) have imposed new or higher fuel surcharges on customers as energy prices shoot higher amid Russia-Ukraine War. In an online petition being circulated, FedEx Ground contractors are...

As per investment strategist David Roche, the global economy is likely entering a “war-cession,” and markets are underestimating its duration. Speaking to CNBC’s “Squawk Box Europe,” Roche, president of Independent Strategy, suggested that evidence of atrocities...

The U.S. Treasury has extended sanctions to Russian diamond miner Alrosa PJSC, potentially cutting off about 30% of the world’s supply of rough stones, writes Bloomberg. According to a license from the U.S. Office of Foreign Assets Control, clients of Alrosa and other...

Shell Plc (NYSE: SHEL) will write down up to $5 billion following its decision to exit Russia, more than previously disclosed. The post-tax impairments of between $4 billion and $5 billion in the first quarter will not impact its earnings, Shell said in an update ahead of its...

Oil is headed for the most significant weekly loss in almost two years after the Biden administration ordered a release of U.S. strategic reserves amid rising crude prices. The West Texas Intermediate futures rose 0.6% Friday. The U.S. plans to release 1 million barrels a day for six...

Republicans have criticized President Biden for scolding the U.S. oil industry and pushing for alternative-energy sources even as Russia's invasion of Ukraine has emphasized the world's dependence on fossil fuels, the Wall Street Journal writes. Mr. Biden recently announced that the U....