US oil benchmark tops $80 per barrel for first time in 7 years
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The price of US West Texas Intermediate (WTI) crude oil exceeded $80 per barrel for the first time since November 2014 this week following reports that Washington will not tap the nation’s oil reserves to curb gasoline prices. Read Full Article at RT.com
Gazprom raises forecast for gas export prices by over 10% in 2021
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Russia’s state energy giant Gazprom has raised its forecast for gas export prices in 2021 and called for changes to the gas pricing mechanism in Europe to avoid further crises. Read Full Article at RT.com
China orders huge boost in coal output to avert severe power crunch
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Beijing has called for an immediate expansion of coal production in Inner Mongolia by nearly 100 million tons, Reuters reports. This comes amid a global energy crunch and coal shortages in the country. Read Full Article at RT.com
Russia supplying additional gas to Europe using all available routes – Gazprom Export
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Russia has been gradually increasing gas deliveries to Europe over the past nine months, boosting exports by 15% compared to last year and edging toward record gas deliveries via all routes, including Ukraine, Gazprom Export says. Read Full Article at RT.com
Beijing stock exchange runs technical tests ahead of trading by year’s end
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China’s newly-established Beijing Stock Exchange is prepping to start trading by the end of the year, having successfully run the first technical test with market players, with the second test planned later this week. Read Full Article at RT.com
Russia's Nord Stream 2 pipeline could play crucial role in stabilizing European gas market – International Gas Union
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The current volatility of gas prices is partly due to some global economies having become too reliant on renewable energy sources, according to the president of the International Gas Union, Dr. Joe M. Kang. Read Full Article at RT.com
Oil price drops from 7-year-high after Russia & US ease energy supply worries
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Global crude prices have dropped around 1% on Thursday after Russia offered to ease the energy crisis in Europe with extra gas supplies, while the US hinted at releasing crude from its strategic reserves. Read Full Article at RT.com
Boom Bust analyzes state of global debt, fast approaching a record $300 TRILLION
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About $4.8 trillion were added to the global debt pile in the second quarter of this year, pushing the total to a record high of $296 trillion, according to data from the Institute of International Finance (IIF). Read Full Article at RT.com
India’s wheat exports could quadruple to an 8-year high amid global price surge
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Exports of wheat by the world’s second biggest producer, India, are expected to hit record volumes this year as a spike in global prices and higher freight costs make Indian grain lucrative for Asian buyers. Read Full Article at RT.com
Natural gas prices drop as Putin says Russia will boost supplies to Europe
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The price of gas futures in Europe has plunged nearly 22%, below $1,000 per 1,000 cubic meters, on news that Russia is willing to ramp up supplies to the continent. Gas prices nearly reached $2,000 a day earlier. Read Full Article at RT.com
Ruble strengthens to 14-month high against euro while Russian stocks hit record levels
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Rising energy prices have pushed Russia's currency to its strongest level against the euro in more than a year, and propelled Russian stocks to record highs. Read Full Article at RT.com
What does the future US-China trade policy look like? RT’s Boom Bust explores
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Top US trade negotiator Katherine Tai has pledged to exclude some Chinese imports from tariffs imposed by former President Donald Trump. This comes as the two nations are set to hold key trade discussions. Read Full Article at RT.com
Gas price in Europe soars above $1,900 per 1,000 cubic meters
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European gas prices broke new record highs on Wednesday, rising sharply to above $1,900 per 1,000 cubic meters at the opening of trading. That is equivalent to $186 per megawatt-hour in household terms. Read Full Article at RT.com
As the threat of hyperinflation grows in the face of runaway government spending, growing consumer demand, and a supply chain crisis, oil prices could well hit $180 by 2022. Read Full Article at RT.com
US trade deficit reaches record $73.3bn amid ongoing spat with China
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The US trade imbalance in August rose to an all-time high, having widened by another $3 billion, or 4.2%, as relatively insignificant gains in exports were swamped by a much larger growth in imports. Read Full Article at RT.com
Could Biden’s spending bill save the American middle class? Keiser Report explores
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US President Joe Biden has declared he will “work like hell” to get the twin spending bill, which consists of a multi-trillion-dollar infrastructure and social spending legislation, passed through Congress. Read Full Article at RT.com
European gas prices push higher as winter season approaches
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Natural gas prices in Europe broke another record on Tuesday, reaching almost $1,250 per 1,000 cubic meters, according to data from the Intercontinental Exchange (ICE). Read Full Article at RT.com
European gas prices soar to record high as Russia awaits EU approval for delivery of supplies via Nord Stream 2 pipeline
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Gas prices in Europe have topped a new record high, soaring over $1,200 per 1,000 cubic meters on Monday as the global energy crisis worsens due to growing post-pandemic demand. Read Full Article at RT.com
Semiconductor chip shortage could extend through 2022
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The ongoing shortage of semiconductor chips, which is undermining major industries, is expected to extend into next year and potentially beyond, Matt Murphy, CEO of chip maker Marvell Technology, has told CNBC. Read Full Article at RT.com
Russia will run out of gold in 20 years if new deposits not found, biggest gold miner warns
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The chief executive of Russia’s largest gold producer Polyus, Pavel Grachev, has warned that the country’s gold deposits are being depleted, with mining firms expected to exhaust their resource portfolios in the next two decades. Read Full Article at RT.c
Asia is winning the bidding war for natural gas supply
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China and Asia are winning the bidding war for natural gas supplies as the northern hemisphere goes into the winter season with woefully low inventories and recovering demand after the pandemic. Read Full Article at RT.com
China Evergrande share trading suspended on Hong Kong exchange
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Share trading of distressed property giant China Evergrande was suspended in Hong Kong on Monday ahead of a “major transaction” announcement. The company faces default, with debts exceeding $300 billion. Read Full Article at RT.com
Ruble shrugs off global turbulence to become the only gainer among EM rivals
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The Russian national currency, the ruble, was reportedly the only emerging-market currency to appreciate against the US dollar despite Washington’s threat of expanded curbs on purchasing the country’s state debt. Read Full Article at RT.com
Russia has massive hydropower and wind energy potential
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Wind power and hydropower are the renewable energy sources with the best chance of successful deployment in Russia, a new paper has suggested. Read Full Article at RT.com
Tesla shrugs off chip crisis as electric vehicle deliveries hit another record
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US electric car producer Tesla has reported delivery of a record number of electric cars in the third quarter, beating Wall Street projections, despite the global chip shortage faced by automakers. Read Full Article at RT.com
The US has approached China about the latter’s crude oil imports from Iran, seeking to pressure Iran into nuclear deal negotiations through its biggest oil client, Reuters has reported, citing US and European officials. Read Full Article at RT.com
Russian billionaire Oleg Tinkov agrees to pay $500 million to escape prosecution for US tax fraud
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The founder of one of Russia’s largest private banks has reached a plea deal with the US authorities after the tycoon agreed to pay over $500 million in a fraud case that accused him of concealing assets to evade taxes. Read Full Article at RT.com
Bah Blahaj! Rumors of IKEA plan to cull beloved shark plushie sends social media into frenzy
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Throngs of alarmed IKEA customers took to social media to express their disappointment over the possible discontinuation of the world-famous Blahaj shark toy after a vague comment left by the company’s support service on Twitter. Read Full Article at RT.com
Record-breaking natural gas prices equate to oil costing $190 per barrel
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Skyrocketing prices for natural gas have reached a level equivalent to $190 for a barrel of crude, which is higher than the peak oil price during the 2008 financial crisis. Read Full Article at RT.com
Too big to fail? Not in China: Boom Bust looks at how Beijing deals with speculative markets
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While everyone expected Beijing to bail out real estate giant Evergrande, saying the company was too big to fail, the Chinese government has so far taken a different approach to dealing with the crisis. Read Full Article at RT.com
Gas price in Europe sets historic high of $115 per megawatt-hour
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European gas prices have smashed yet another record, adjusting to almost $115 per megawatt-hour in household terms, Intercontinental Exchange (ICE) data showed. Read Full Article at RT.com
Keiser Report finds out why JPMorgan chief is backtracking on his criticism of bitcoin
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After years of calling bitcoin a fraud, JPMorgan CEO Jamie Dimon did a complete 180 this week in regard to his view of the world’s most popular cryptocurrency. Read Full Article at RT.com
Gulf Air launches commercial flights from Bahrain to Israel
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The first direct commercial flight from Bahrain to Israel took off on Thursday. The Arab state signed the US-brokered Abraham Accord last year, agreeing to normalize relations with Israel. Read Full Article at RT.com
Gas price keeps climbing in Europe as Brussels delays Russian supplies via Nord Stream 2
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The price of natural gas in Europe exceeded an all-time high of $1,100 per 1,000 cubic meters on Thursday, trading data from the Intercontinental Exchange (ICE) shows. Read Full Article at RT.com
Boom Bust digs into China’s energy crunch & its effects on global economic recovery
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Manufacturing hubs across China have slowed the production of vital goods due to power outages resulting from Beijing’s ecological agenda and rising coal prices. Read Full Article at RT.com
European gas prices push above record $1,000 for second consecutive day
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The price of natural gas in Europe surged above $1,000 per 1,000 cubic meters for the second day in a row on Wednesday after adjusting to $950 the night before, Intercontinental Exchange (ICE) data shows. Read Full Article at RT.com
S&P upgrades Russia’s economic growth outlook for 2021
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International rating agency S&P has improved its outlook for Russia's GDP growth this year to 4% from its previous forecast of 3.7%, according to a survey released on Tuesday. Read Full Article at RT.com
