Russian President Vladimir Putin said on Thursday (Nov. 24) that attempts by the West to introduce a price cap on oil Russia is producing will very likely seriously affect the global energy market. “Such actions are contrary to the principles of market relations,” he told new Iraqi Prime Minister Mohammed Shia al-Sudani, according to the Kremlin’s press release. Earlier, Russian Foreign Ministry
READ MORE
Aluminium prices eased on Tuesday (March 22) after rally but supply woes limited the commodity’s decline. The most-traded May aluminium contract on the Shanghai Futures Exchange SAFcv1 closed down 0.3% at 22,950 yuan ($3,608.55) a tonne. Aluminum futures have been rallying since mid-December and hit a record high above $3,800 a ton in the first week of March, as the intensifying Russia-Ukraine
READ MORE
Palladium rose on Thursday (March 3), extending gains amid the deepening Ukraine crisis in the wake of sanctions imposed on Russia by the U.S. and Western countries set to disrupt exports of the precious metal. The auto-catalyst metal jumped 2% to $2,721.78, after hitting a fresh high since July at $2,735.18 earlier in the session. Palladium is usually transported by passenger planes and
READ MORE
Spot gold rallied to the highest level in more than a year on Thursday (Feb. 24) as safe-haven demand for the precious metal jumped after Russian President Putin launched a military operation in Ukraine and warned other countries that any attempt to interfere with the Russian action would lead to “consequences they have never seen.” The Russian head of state declared what
READ MORE
World markets were higher on Wednesday (Feb 23) after Russian President Putin said Moscow is ready to look for “diplomatic solutions” amid tensions with the West over Ukraine. Stocks in Asia-Pacific closed in the green. Mainland Chinese equities gained. The Shanghai composite closed up 0.93% to 3,489.15 while the Shenzhen component climbed 1.902% to about 13,549.99. In Hong Kong, the Hang Seng index added
READ MORE
Soaring tensions over Ukraine kept world stock markets on edge on Tuesday (Feb. 22) following yesterday’s recognition of the Donetsk and Luhansk People’s Republics in eastern Ukraine by Russian President Vladimir Putin. Putin ordered the Russian army to move into the two regions to act as “peacekeepers,” with the U.S. and allies condemning the deployment of troops in Ukraine. Germany also suspended
READ MORE
World stock markets opened higher on Monday (Feb. 20) as investors were cheered by news of a possible summit over Ukraine between the United States and Russia. A decision on the summit will be taken after the foreign ministers of Russia and the US talk later this week. “President Biden accepted in principle a meeting with President Putin following that engagement, again,
READ MORE