Oil powers higher All the headlines suggest oil prices will continue to go higher.  Global energy supplies will continue to get tighter now that both the US and UK will ban Russian oil.  The US took it one step further and also will ban Russian natural gas and other energy sources.  Russia’s economy will take […]

Oil pares huge gains Crude prices skyrocketed to a 13-year high at the start of the week as energy traders were thinking the war in Ukraine could lead to an even tighter oil market as the US tries to convince the Germans to agree upon a ban of oil imports from Russia. After hitting the […]

US, European stocks fall as oil prices skyrocket US stocks declined as surging commodity prices continued to add to worry that economic growth prospects will take a big hit as the Ukraine uncertainty persists.  The crippling effect of oil prices above USD 130 would send many European economies into a recession and that sent major […]

Oil prices remain high but give back huge early gains Oil prices were up more than 17% at one stage after the open but that has been pared right back as the day has progressed, with Brent now up 1.5% around USD 120 a barrel. In a sign of how ridiculous the situation is right […]

European markets entered bear market territory at the start of the week as panic set in at the open in response to reports of the US looking to impose a ban on imported Russian oil. To make matters worse, the reports appeared to suggest Europe is considering similar action as well which would be a […]

European markets are closing in on bear market territory in heavy selling at the end of the week as investors grow increasingly fearful of recessionary and escalation risks. The sell-off has gathered pace as the morning has progressed and I can’t expect the mood will improve as we head into another highly uncertain weekend. The […]

After starting the week with gains, the euro has been on a nasty slide, which has continued on Friday.  EUR/USD has dropped below the symbolic 1.10 level in the European session and is at its lowest level since June 2020. Fire at Ukraine nuclear plant sends euro lower The intensified fighting which is raging in […]