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The G7countries and EU agreed to a $60 per barrel price cap on Russian crude oil.

Can a price cap cut Putin's war chest?

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Profile picture of The Times of Israel
US, Europe to up Iran sanctions as Israel pressed to ditch threatened retaliation
timesofisrael.com/us-europe-to-up-iran-sanctions-as-israel-pressed-to-ditch-threatened-retaliation/
US, Europe to up Iran sanctions as Israel pressed to ditch threatened ...
Quick Glance: US imposes new sanctions on Iran's drone program
  • The United States imposed new sanctions Thursday on sixteen people and two entities associated with Iran’s drone program to punish Tehran for the weekend's attack on Israel.

  • The sanctions target executives of an engine manufacturer supplying Iran’s Shahad-131 drones, companies servicing the engines, and individuals providing the drones to Iranian proxy forces in the Middle East.

  • Coordinated with European allies, the new sanctions aim to disrupt Iran's missile and drone program and isolate the country globally.

  • President Joe Biden emphasized the US commitment to holding Iran accountable, utilizing economic tools to counter Iran's activities, as stated by Treasury Secretary Janet Yellen.
Profile picture of Daily Nation
Self belief: I always knew I was built to be an entrepreneur : Eutycus Mwenda is the founder of Milestones Supplies, a fuel depot in Meru town.
nation.africa/kenya/life-and-style/mynetwork/self-belief-i-always-knew-i-was-built-to-be-an-entrepreneur--4593622
Self belief: I always knew I was built to be an entrepreneur
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ECB's June rate cut plan bolstered by confirmed eurozone inflation fall: Inflation in the eurozone decelerated across the board in March, as per final data from ...
dailysabah.com/business/economy/ecbs-june-rate-cut-plan-bolstered-by-confirmed-eurozone-inflation-fall
ECB's June rate cut plan bolstered by confirmed eurozone inflation fall
Quick Glance: Powell Warns of Lack of Progress on Inflation
  • Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.

  • Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.

  • Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.

  • Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
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Venezuela criticizes return of US sanctions and claims it did not pledge to let opposition leader run in election
english.elpais.com/international/2024-04-18/venezuela-criticizes-return-of-us-sanctions-and-claims-it-did-not-pledge-to-let-opposition-leader-run-in-election.html
Venezuela criticizes return of US sanctions and claims it did not pledge ...
Quick Glance: US to Reinstate Sanctions on Venezuela’s Oil and Gas Sector
  • The United States will reimpose sanctions on Venezuela’s oil and gas sector due to the Maduro government's failure to allow 'an inclusive and competitive election' to take place.

  • The US government decided not to renew the temporary authorization (General License 44) that allowed transactions with Venezuela's national oil and gas sector without fear of sanctions, citing the Maduro government's failure to uphold key areas of the 'Barbados Agreement.'

  • While the impact of revoking the authorization could not be quantified, another authorization from 2022 allowing the oil company Chevron to resume limited resource extraction operations in Venezuela will remain in place.

  • Despite reinstating sanctions, a US official emphasized that this should not be seen as a final decision on Venezuela's electoral capabilities, and efforts to support a better future for the country will continue.
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Russia Plans Anti-Drone Response After Recent Hits on Refineries: Russia is stepping up military training to counter drones after repeated UAV attacks in regions ...
bloomberg.com/news/articles/2024-04-20/russia-plans-anti-drone-response-after-recent-hits-on-refineries
Russia Plans Anti-Drone Response After Recent Hits on Refineries
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Oil price eases on hopes of Middle East de-escalation after attacks: Iran produces more than three million barrels of crude oil a day as a major producer within ...
irishexaminer.com/business/economy/arid-41374870.html
Oil price eases on hopes of Middle East de-escalation after attacks
Quick Glance: Oil Prices Could Witness a 'Super Spike Well Above $100' Post Iran's Strike on Israel
  • Market analysts predicted that oil prices could surge to $100 per barrel and beyond after Iran conducted an aerial attack on Israel, reigniting concerns of a regional war.

  • Iran carried out an aerial attack on Israel on Saturday night, launching over 300 drones and missiles, marking the first direct military attack by Iran on the Jewish state.

  • Insufficient investment renders the supply more fragile, raising the likelihood of a 'super spike well above $100' if the supply is disrupted.

  • Recent months have seen oil prices rise due to trade disruptions and delays caused by maritime attacks in the Red Sea by the Houthis, who express solidarity with the Palestinian people.
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Lagarde says ECB will cut rates soon, barring any major surprises; notes 'extremely attentive' to oil
cnbc.com/2024/04/16/lagarde-says-ecb-will-cut-rates-soon-barring-any-major-surprises.html
Lagarde says ECB will cut rates soon, barring any major surprises; notes ...
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TotalEnergies investors call for split of CEO and chair roles: A group of TotalEnergies investors is calling for the French oil and gas major to split the roles ...
reuters.com/business/energy/investors-ask-totalenergies-split-ceo-board-chair-roles-ahead-may-agm-2024-04-18/
TotalEnergies investors call for split of CEO and chair roles
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The renegotiation debate of the 2016 Petroleum Agreement: What are the considerations? - Guyana Chronicle
guyanachronicle.com/2024/04/17/the-renegotiation-debate-of-the-2016-petroleum-agreement-what-are-the-considerations/
The renegotiation debate of the 2016 Petroleum Agreement: What are the ...
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Kasselakis reports of miracle during his baptism: “A Cross was formed from the oil”
keeptalkinggreece.com/2024/04/17/kasselakis-miracle-baptism-cross/
Kasselakis reports of miracle during his baptism: “A Cross was formed from ...
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Russia's economic growth to surpass US, advanced economies, IMF says: Russia's economy in 2024 is expected to grow by 3.2%, outpacing the US, Germany, the UK ...
businessinsider.com/russia-economy-grows-faster-than-all-advanced-economies-imf-2024-4
Russia's economic growth to surpass US, advanced economies, IMF says
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Nigeria: Govt Must Halt Shell's Sale of Its Niger Delta Business Unless Human Rights Are Fully Protected
allafrica.com/stories/202404150023.html
Nigeria: Govt Must Halt Shell's Sale of Its Niger Delta Business Unless ...
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Locals protest compulsory land acquisition in Uganda’s oil-belt  : Mr Mwesige said the swift court ruling – delivered within four days and after one hearing – ...
monitor.co.ug/uganda/news/national/locals-protest-compulsory-land-acquisition-in-uganda-s-oil-belt--4593486
Locals protest compulsory land acquisition in Uganda’s oil-belt  
Profile picture of The Standard (Kenya)
Small-scale gas suppliers worry over centralised imports plan: Epra last week said it is looking into the possibility of restricting LPG imports and would only ...
standardmedia.co.ke/financial-standard/article/2001493287/small-scale-gas-suppliers-worry-over-centralised-imports-plan
Small-scale gas suppliers worry over centralised imports plan
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‘Quality concerns’ disrupt petrol sales in Southern Cape: Unexplained damage to vehicle paintwork from the petrol prompts oil companies to tell retailers to ...
timeslive.co.za/sunday-times/news/2024-04-14-quality-concerns-disrupt-petrol-sales-in-southern-cape/
‘Quality concerns’ disrupt petrol sales in Southern Cape
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The effect Iran's attack on Israel could have on commodities: In the wake of Iran's recent offensive against Israel, investors have been on edge ...
euronews.com/business/2024/04/15/how-irans-attack-on-israel-could-impact-commodities
The effect Iran's attack on Israel could have on commodities
Profile picture of Daily Nation
Relief for consumers as electricity prices fall for third consecutive month: Epra has reduced power prices by Sh2.1 per unit.
nation.africa/kenya/business/relief-for-consumers-as-electricity-prices-fall-for-third-consecutive-month-4590734
Relief for consumers as electricity prices fall for third consecutive ...
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Russian oil and products trapped on tankers hit by new Iran-related sanctions | eKathimerini.com
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Russian oil and products trapped on tankers hit by new Iran-related ...
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Polish Finance Minister Urges Prosecutors to Scrutinize Orlen: Poland’s state prosecutors should look “thoroughly” into state-run Orlen SA following revelations ...
bloomberg.com/news/articles/2024-04-12/polish-finance-minister-urges-prosecutors-to-scrutinize-orlen
Polish Finance Minister Urges Prosecutors to Scrutinize Orlen
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State to audit Tullow’s Kenya oil project cash use: British firm’s Kenya budget for this year is the same as that spent in 2023.
nation.africa/kenya/business/state-to-audit-tullow-oil-spending--4587760
State to audit Tullow’s Kenya oil project cash use
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Helleniq planning RES investments, while eyeing hydrocarbons: Helleniq Energy is 12 to 18 months away from deciding whether to go ahead with drilling in the ...
ekathimerini.com/economy/1236211/helleniq-planning-res-investments-while-still-eyeing-hydrocarbons/
Helleniq planning RES investments, while eyeing hydrocarbons
Profile picture of allAfrica.com
Nigeria: Activists Urge Nigeria to Refuse Shell's Oil Selloff Plans: Environmental and human rights activists are calling on the Nigerian government to withhold ...
allafrica.com/stories/202404110030.html
Nigeria: Activists Urge Nigeria to Refuse Shell's Oil Selloff Plans
Profile picture of The Standard (Kenya)
State mulls blocking Dar gas imports on safety concerns: Epra plans to review the law and restrict the importation of Liquified Petroleum Gas (LPG) through the ...
standardmedia.co.ke/financial-standard/article/2001492867/state-mulls-blocking-dar-gas-imports-on-safety-concerns
State mulls blocking Dar gas imports on safety concerns
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Russia opens ‘financing terrorism’ probe implicating Western countries: Russia on Tuesday opened a probe into “financing terrorism” that implicates Western ...
english.alarabiya.net/News/world/2024/04/09/russia-says-ukrainian-energy-firm-burisma-financed-terrorist-attacks
Russia opens ‘financing terrorism’ probe implicating Western countries
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Russian oil flows are sidestepping sanctions and trading above the G-7 price cap all over the world
trib.al/osQvKdI
Russian oil flows are sidestepping sanctions and trading above the G-7 ...
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BP in talks to sell some Trinidad upstream gas assets to Perenco: BP is close to an agreement to sell some of its Trinidad and Tobago oil and gas assets to ...
reuters.com/business/energy/bp-talks-sell-some-trinidad-upstream-gas-assets-perenco-2024-04-08/
BP in talks to sell some Trinidad upstream gas assets to Perenco
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Shell CEO suggests oil and gas company could quit London Stock Exchange: As Wael Sawan focuses on a two-and-a-half-year turnaround plan, he refuses to rule out a ...
thenationalnews.com/business/uk/2024/04/08/shell-ceo-suggests-oil-and-gas-company-could-quit-london-stock-exchange/
Shell CEO suggests oil and gas company could quit London Stock Exchange