Markets

European and Asian natural gas suppliers are racing to charter LNG tankers, which could push gas prices higher. It spells trouble for Europe in particular, which faces a potential shutoff from Russian gas. Chartering rates for tankers could jump 20% from last year to $400,000/day this winter, one broker told S&P Global. Loading Something is… Continue reading Gas prices could be driven higher as European and Asian suppliers race to charter LNG tankers

Seaborne Russian crude shipments rose to 3.32 million barrels a day in the week ending September 2, per Bloomberg. In particular, seaborne Russian crude shipments to Northern Europe jumped 20% on-week. The increase comes as the EU plans to ban most Russian crude-oil imports from Dec. 5. Loading Something is loading. The European Union is… Continue reading Europe is loading up on Russian oil 3 months before an import ban is set to kick in amid EU’s energy crisis

US stocks fell Tuesday, turning lower in the post-Labor Day session.  Stocks gave up earlier gains after a stronger-than-expected ISM services report.  That bolstered views that the Fed sees the economy as strong enough to take on more rate hikes.  Loading Something is loading. US stocks closed with a loss Tuesday as investors saw a… Continue reading US stocks finish lower as strong services report backs Fed’s view to keep pushing interest rates higher

Pershing Square founder Bill Ackman said he sees inflation being halved a year from now in response to the Federal Reserve’s interest rate hikes.  “Our biggest fear was inflation,” the hedge fund boss said in supporting the Fed raising rates quickly and soon.  He expects the Fed to keep rates at around the 4% range… Continue reading Bill Ackman says his firm is holding onto its stock picks as it anticipates Fed rate hikes cutting inflation to more than half current levels

The Fed may not be able to avoid a recession – and may not be able to bring inflation down to its 2% target either, according to BlackRock. “The Fed will be surprised by the growth damage caused by its tightening,” analysts said in a note on Tuesday. The bank’s analysts think a recession could… Continue reading Why the Fed won’t be able to avoid a recession or bring inflation down to its 2% target, according to BlackRock

Traders told Bloomberg that Chinese energy groups are sending liquefied natural gas to European nations.  Major firms including Sinopec have send natural gas shipments to Europe throughout the year, per the report.  China, the world’s biggest buyer of the key fuel, has seen demand slump amid strict COVID-19 policies in 2022.  Loading Something is loading.… Continue reading China’s top energy firms are sending natural gas to European nations struggling with Russia’s supply cuts

Nearly two years since the meme-stock revolution, retail investors are still bullish as markets struggle.  Stocks have to fall further to discourage the “diamond hands” retail crowd, experts say. Retail investors are more likely to see volatility as an opportunity instead of a risk.  Loading Something is loading. After a short-lived summer rally, the stock… Continue reading Nearly 2 years after the meme stock revolution, retail traders are holding on even as volatility hammers markets in 2022

Russian oil is likely making its way to the US and other countries that have sanctioned Moscow, according to Petro-Logistics.  Indian imports of Russian crude have skyrocketed since the invasion of Ukraine.  Meanwhile, India’s exports of oil products have increased, and some of them likely originated in Russia. Loading Something is loading. Russian oil is… Continue reading The US and other countries that sanctioned Moscow are likely importing Russian oil via India, report says