A tanker truck travels towards a petrochemical production complex on the outskirts of Shanghai, China, on Tuesday, March 1, 2022. Oil extended its relentless rally before an OPEC+ meeting as the International Energy Agency warned that global energy security is under threat following Russia’s invasion of Ukraine. Photographer: Qilai Shen/Bloomberg
Following the imposition of the price cap and related curbs, a backlog of tankers waiting to haul oil through Turkey’s vital shipping straits built up amid a dispute over insurance cover. That now appears to be clearing, with a port agent tally on Sunday showing 19 tankers waiting to pass through the Bosphorus and Dardanelles … Read more
“We’re thinking about this,” the Russian president told reporters after a summit in Kyrgyzstan. “If we are talking about a disarming strike, perhaps we should think about using the approaches of our American partners,” he said, citing what he called US strategies to use high-accuracy missiles for a preventive strike.
“This will be a very challenging period for policymakers at all levels,” said Hugh Johnson, chairman of Hugh Johnson Economics LLC. While the Fed clearly desires to hold rates at the peak throughout the year, “These decisions are quite clearly data dependent and will be challenged if, as we suspect, the economy contracts and inflation … Read more