Tag Archives: energy prices

AUD/JPY hit fresh monthly lows beneath the 91.00 level on Tuesday, the pair heavily weighed amid as a steep sell-off engulfed global equity markets with investors fretting about everything from China lockdown risk, economic and military tensions with Russia amid the ongoing Russo-Ukraine war, a worsening global growth outlook and …

Piper Sandler commodity analysts updated the bank’s US natural gas forecast Thursday, flagging increased exports, increased demand and “pervasive capital discipline” all leading to higher medium-term natural gas prices (UNG).Analysts now see Henry Hub (NG1:COM) averaging $6.50 in 2022, $5.50 in 2023 and $4.00 long-term; compared to prior estimates of …

Germany’s exports to Russia fell 57.5 percent to 1.1 billion euros ($1.2 billion) in March due to sanctions imposed on Moscow after its invasion of Ukraine, the German Federal Statistics Office said on Thursday. This pushed Russia down from the fifth largest market for Germany outside the European Union in …

WTI pressured on Wednesday while futures rose marginally. Political standoff in Libya has highlighted the fragility of oil supply. Crude oil is down in late North American trade by some 1.28% and has fallen from a high of $103.92 to a low of $99.93 into the close. It posted a …

The Bank of Japan will face increasing political pressure if the Japanese yen slides further, say analysts from Danske Bank. They forecast the USD/JPY pair at 126 in one month, 125 in three months, 123 in six months and 119 in a year. Key Quotes: “Bank of Japan has fiercely …

The European Union has started drafting its proposal for an embargo on Russian oil imports as its latest response to the war in Ukraine, the New York Times reported, citing Brussels officials and diplomats.The embargo will most likely be introduced in a gradual way, similar to the planned Russian coal …

Oil prices are elevated and yet the CAD struggles in the face of a firm US dollar and fresh cycle highs. At 1.2641, the USD/CAD pair is up 0.13% on the day, little changed although in recovery mode from its weakest level in nearly four weeks. This is despite a …

A market breakdown could have extensive economic consequences. The US central bank is believed to be aware of the necessity of being prepared to lend emergency support in the aftermath of the sanctions imposed on Russia, given the fact that the sanctioned country is undoubtedly one of the globe’s largest …

The AUD/USD bulls back off as the US dollar firms up again. The Australian jobs will be a key event for this week, as will the Reserve Bank of New Zealand.At 0.7458, AUD/USD remains in bullish territory, higher by some 0.6% but is losing steam as the greenback recovers in …

German chancellor, Olaf Scholz, said that Germany is doing all it can to wean itself off Russian energy, but declined to endorse a claim by Boris Johnson that it would stop importing Russian gas by the middle of 2024.Scholz said only that the goal would be achieved very soon, and …