Market Insider (September 30)
“Japan and Korea have dumped billions of dollars into the foreign exchange market to prop up” their currencies. Nevertheless, “the dollar has surged 26% against the yen and has risen 21% versus the won.” The yen and won are hardly unique. “Both developed and emerging market economies, have slumped against the dollar,” but both currencies “have also been hurt by trade deficit concerns” as their “economies are importers of oil.”
Tags: Currencies, Developed, Dollars, Economies, Emerging, Forex, Importers, Japan, Korea, Market, Oil, Prop up, Slumped, Surged, Trade deficit, Won, Yen
Bloomberg (August 7)
“Sky-high US inflation may finally be approaching a peak as global economic growth sputters and oil and other commodity prices plunge. Now the focus is shifting to how fast and far it will retreat.” The tight job market “is probably the biggest reason why inflation may prove more entrenched than the optimists expect.”
Tags: Commodity prices, Entrenched, Global, Growth, Inflation, Job market, Oil, Optimists, Peak, Plunge, Sky-high, Sputters, U.S.
Australian Financial Review (July 17)
“Oil has begun to drop back down this week to pre-invasion levels as traders brace for a sharp drop-off in consumption. But food price inflation remains stubbornly high.” Nevertheless, food prices remain largely off the radar. “The dramatic spikes in oil and mineral prices after Russia’s invasion of Ukraine have distracted investors from the long-lasting and more dangerous impact of food inflation.” This has led BlackRock founder Larry Fink to sound the alarm on food inflation which also has profound geopolitical impacts.
Tags: BlackRock, Consumption, Dangerous, Distracted, Drop-off, Food, Impact, Inflation, Invasion, Investors, Larry Fink, Mineral, Oil, Pre-invasion, Russia, Spikes, Traders, Ukraine
Wall Street Journal (June 3)
“Russia’s invasion of Ukraine calls into question the wisdom of the environmental, social and governance movement’s policy centerpiece: restricting oil and gas investment.” Moreover, “the coordinated effort to depress oil and gas production is potentially a violation of American antitrust law. This combination of bad policy and legal risk will likely” cause the movement to “lose much of its support.”
Tags: Antitrust law, Coordinated, ESG movement, Gas, Invasion, Investment, Legal risk, Oil, Policy, Production, Restricting, Russia, Support, U.S., Ukraine, Violation
Deutsche Welle (March 25)
Before the war in Ukraine, “Germany received 50% of its coal, 55% of its gas, and 35% of its oil from Moscow.” The country now plans “to almost completely end Russian energy imports by the end of the year.” Achieving the plan means “a considerable amount of progress would be made in a short space of time, as the West is rushing to wean itself off Russian energy amidst the invasion of Ukraine.”
New York Times (March 9)
“A week after a chorus of Western executives from Exxon Mobil, BP, Shell and other companies… pledged to pull their companies out of Russian ventures, it appears the turbulence for Russia’s energy industry has only begun.” The industry now looks poised to undergo a “wrenching reworking…. because Russian oil and gas have suddenly become toxic to many buyers.”
Tags: BP, Energy, Exxon Mobil, Gas, Oil, Pledged, Reworking, Russia, Shell, Toxic, Turbulence, Ventures, Western, Wrenching
Bloomberg (March 8)
“When it’s just the yield curve narrowing, or oil jumping, or stocks falling into a correction, maybe you can hold off on panicking over a recession. When all three happen at once, the argument gets stronger that it’s time to take the threat seriously.”
Tags: Argument, Correction, Falling, Jumping, Narrowing, Oil, Panicking, Recession, Serious, Stocks, Stronger, Threat, Yield curve
Wall Street Journal (March 7)
“Oil and gas revenue makes up about half of the Kremlin’s budget and is critical to financing Vladimir Putin’s bloody war on Ukraine.” The trouble is “sanctions on Russian energy could also harm the world economy and especially Europe,” which depends on Russia for a quarter of its oil and 40% of its natural gas. “Unless the West is willing to grasp this nettle, the world will continue to finance the Putin war machine.”
Tags: Budget, Critical, Economy, Energy, Europe, Financing, Kremlin, Natural gas, Oil, Putin, Revenue, Sanctions, Ukraine, War
CNBC (October 28)
In what may prove a seminal for Big Oil, activist Dan Loeb is “calling for the breakup of Royal Dutch Shell into a legacy oil and gas company and separate business for renewable energy.” The activists battle with Shell lies “at the heart of how an energy giant of the future shapes its business model during the energy transition and balances higher return fossil fuel projects with clean energy investment.”
Tags: Activist, Big oil, Breakup, Business model, Clean energy, Dan Loeb, Fossil fuel, Gas, Legacy, Oil, Renewable energy, Royal Dutch Shell, Transition
Wall Street Journal (August 12)
“The rapidly-spreading coronavirus Delta variant and its impact on the global economy mean the world will consume less oil this year,” Lowering its forecast, the IEA’s latest market report notes that “the worsening of the pandemic, as well as revisions to historical data, mean its global oil demand outlook has been “appreciably downgraded,” with some of this year’s forecast recovery shifted to 2022.”
Tags: Coronavirus, Data, Delta variant, Demand, Downgraded, Forecast, Global economy, IEA, Impact, Oil, Outlook, Pandemic, Recovery, Worsening
