The French Energy Minister Agnès Pannier-Runacherdeclared on Wednesday that Russia is using the gas as a weapon of war “just as we had planned.” Featured Statements Russia is further reducing French supplies based on that assumption. France has been ready and prepared for such a scenario. The country is already reducing its exposure to Russian […]
Tag: Russian Federation
Germany: The blow of the war to the economy will last for years – Marcel Fratzscher
The economic impact on Germany of the Russian invasion of Ukraine will last for yearsthe influential economist told Reuters Marcel Fratzscher, of the German Institute for Economic Research, who added that it could cost 3 percentage points of growth this year. It should be noted that the institute advises the government of Europe’s largest economy […]
Germany: We have taken numerous steps to quickly diversify away from Russia
The CEO of Siemens Energy said on Wednesday that they currently have one turbine in operation at the Nord Stream compression station, adding that they need 5 turbines to reach 100% capacity, Reuters reports. “We are doing our best to deliver the turbine, we can not understand what is the delay“, said the CEO. Commenting […]
WTI: Bulls touch $98.00 as DXY renews three-week low ahead of US GDP.
WTI buyers hold the reins for two bullish days amid mixed concerns. Fed-inspired dollar weakness favors oil buyers, but recession fears defy upside moves. Headlines suggesting the release of Russian and US oil reserves could entertain traders ahead of the US 2Q GDP. WTI Crude Oil prices remain firm around $98.00 during Thursday morning in […]
Resumption of Ukrainian grain exports called into question by Russian missile attack – Commerzbank
“Ukraine and Russia signed two separate agreements in Istanbul to resume grain exports from three Ukrainian ports. However, the agreements were already called into question again just one day after their signing due to a Russian missile attack on the port of Odessa. “, write Carsten Fritsch, Energy, Agriculture, Precious Metals analyst at Commerzbank. Featured […]
Why the euro has not reacted to gas supply concerns – Société Générale
the shared currencyso far, has not reacted to growing market concerns about gas supply and rising gas prices, explains Kit Juckes, macro strategist at Société Générale. Featured Statements “Gazprom announced yesterday that the flow through Nord Stream 1 will be reduced to 20% of its capacity in the next one or two days, for an […]
EU Energy Policy Officer: No Technical Reasons For Russia To Further Reduce Nord Stream Flows
The person in charge of the energy policy of the European Union (EU), Kadri Simsonsaid on Tuesday that there is no technical reason for Russia to further reduce gas flows from Nord Stream 1. Featured Statements “We have to be prepared for supply cuts from Russia at any time“. “We hope to reach an agreement […]
Steel: Prices advance as monsoon appears to be over in China and auto sales pick up
Steel prices have rebounded strongly as rising retail sales of passenger cars raise hopes of a recovery. Russia is offering steel at lucrative discounts to cater to the massive Asian market. The end of the monsoon will resume construction activities in China. Steel prices have advanced as the monsoon season is about to end in […]
The gas flows, the crisis remains – Commerzbank
The gas is flowing again! But an acute energy crisis has not been avoided at allwrites Esther Reichelt, foreign exchange and emerging markets analyst at Commerzbank. Featured Comments “The EU yesterday requested a significant reduction in gas consumption of 15% over the next eight months and threatens mandatory rationing. But the EU continues to drive […]
Nord Stream: Russian gas flow has resumed after maintenance
As reported on Thursday by several Russian media outlets, citing a Nord Stream AG spokesman, the supply of gas through the gas pipeline has been resumed. The spokesman, however, has said that the restoration of gas flows will be gradual. Meanwhile, the German gas regulator has said that current gas flows through the pipeline Nord […]