Musk and Andreessen mock ESG ‘madness’
Pence speaks 2024
Former Vice President Mike Pence has his eye on 2024, he told FOX Business.
Biden 10:45 a.m. ET Announcement
The President will announce actions to continue to hold Russia accountable for its unprovoked and unjustified war against Ukraine.
Gold driven by safe haven trade
Gold prices broke through the $2,000 level as investors avoided riskier assets and sought an inflation hedge.
Gasoline prices are rising
Gas prices hit $4.17 a gallon: AAA
Shell to stop buying Russian oil and gas, apologizes for recent purchase
Oil giant Shell on Tuesday apologized for its purchase of Russian crude oil last week and said it would withdraw from all Russian hydrocarbon involvement due to the country’s invasion of Ukraine.
“We are fully aware that our decision last week to buy a shipment of Russian crude oil to be refined into products like gasoline and diesel – although it was taken with security of supply at the forefront of our thinking. – was the wrong one and we are sorry,” Shell CEO Ben van Beurden said in a statement.
Cryptocurrency prices mixed on Tuesday
As of 4:45 a.m. Tuesday, Bitcoin was trading at $38,980 per coin (+2.06%), while rivals Ethereum and Dogecoin were trading at $2,588 (+2.15%) and 11.93 cents (-0.46%), respectively, according to CoinDesk.
White House orders broad review of cryptocurrencies
The White House is expected to issue an executive order this week directing several federal agencies to conduct a broad review of cryptocurrencies, including studying the creation of a US digital currency, according to a person familiar with the matter.
The executive order, which the White House is expected to reveal in the coming days, will instruct the Treasury, Commerce, State, and Justice Departments, among other agencies, to study elements of the rapidly growing cryptocurrency market. currency, the person said. The agencies will have approximately three to six months to conduct a review and prepare a public report with recommendations on the federal government’s approach to digital tokens.
Saw Stocks Overnight
U.S. stock futures were mixed but faltered overnight as the Dow Jones Industrial Average slipped nearly 800 points on Monday to close in a correction as soaring oil prices aggravated concerns. concerns about inflation and economic growth.
Propelled by oil prices surging above $130 a barrel on Monday, it was triggered by the possibility that the United States would ban crude imports from Russia. Oil prices stabilized later in the day and were moderately higher early Tuesday.
A third round of peace talks between Ukraine and Russia failed to produce major results. A senior Ukrainian official said there was minor, unspecified progress towards establishing safe corridors for civilians to escape the fighting.
The dollar closes, the euro at its lowest for 22 months, the ruble at its lowest
The euro was pinned near a 22-month low on Tuesday as the war in Ukraine clouded Europe’s economic outlook, while commodity currencies took a break from their weeks-long rally. The ruble hit a record low on Tuesday as the dollar held up against foreign currencies.
The euro was doing its best to rebound after six consecutive selling sessions, but at $1.0855 it was not far off Monday’s low of $1.0806.
The common currency is down 4% against the dollar since Russia launched what it calls a “special military operation” in Ukraine where the fighting shows no sign of abating. It flirted with parity on the Swiss franc on Monday for the first time in seven years.
OPEC meets with US shale leaders at Houston energy conference
Officials from the Organization of the Petroleum Exporting Countries met with executives from several major U.S. shale oil companies at a U.S. energy conference on Monday as energy prices soared due to concerns about ‘supply.
Crude hit a 14-year high of $139 a barrel earlier on Monday as worries grew over supply shortages as buyers shunned shipments from second-largest oil exporter Russia.
Earlier, OPEC Secretary General Mohammad Barkindo told the CERAWeek energy conference that OPEC could not compensate for a ban on Russian oil exports.
Gold down in early trading in Asia
Gold fell in early Asian trading on Tuesday amid profit-taking, even as prices for the precious metal approach the all-time high of $2,028.00 an ounce set in August 2020.
“There is still a lot of optimism that the growth outlook will not completely collapse and this has helped trigger some profit taking,” said Oanda Corporation, a futures commission registered trader. and a currency broker with the Commodity Futures Trading Commission, adding that they expect gold prices to form a trading range around the $2,000/ounce level.
Chevron CEO: Gas pipeline linking Israel to Europe could help ease shortage
Talks on a gas pipeline between Israel and Europe could be revived to provide the continent with an alternative to Russian gas amid Putin’s invasion of Ukraine, Chevron CEO Michael Wirth said Monday during a the CERAWeek conference in Houston.
Earlier this year, the United States withdrew its support for the Eastern Mediterranean Gas Pipeline due to economic and environmental concerns. Israel, Greece, Cyprus and Turkey are still trying to agree on the pipeline.
Russia supplies around 40% of Europe’s natural gas, with most of it transported by pipeline through Eastern European countries, including Ukraine.
The Biden administration contacted Israel in early February about increasing natural gas production ahead of Russia’s planned invasion of Ukraine, Axios reports.