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Oil prices firm as geopolitical tensions raise supply concerns
  + stars: | 2024-11-21 | by ( ) www.cnbc.com   time to read: +2 min
A pump jack at an oil lot connected to the Petroleos del Peru SA Talara refinery in Piura, Peru, on Wednesday, Dec. 13, 2023. Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine. Gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw. Adding to supply, Norway's Equinor said it had restored full output capacity at the Johan Sverdrup oilfield in the North Sea following a power outage. However, a slowdown in Chinese and global demand, coupled with rising output outside the group, have potentially thwarted this plan.
Persons: Norway's Equinor, Johan Sverdrup Organizations: del, del Peru SA Talara, Brent, . West Texas, Storm, ATACMS, Energy Information Administration, Organization of, Petroleum Locations: del Peru, Piura, Peru, Russia, Ukraine, Moscow, Kyiv, OPEC
Russian President Vladimir Putin's broadened nuclear doctrine appeared to be a thinly veiled threat to the United States and its allies over their ramped-up support for Ukraine. The updated document includes a change that allows for Moscow to launch a nuclear strike if attacked by a nonnuclear country, such as Ukraine, that is supported by a nuclear state, such as the U.S. It was formally approved the same day that Kyiv used its first U.S.-supplied long-range ATACMS missiles against Russia. Defense Secretary Lloyd Austin told NBC News that he saw no indication that Moscow is imminently intent on using nuclear weapons. “He has rattled his nuclear saber quite a bit and this is dangerous behavior,” Austin said of Putin.
Persons: Vladimir Putin's, Putin, Lloyd Austin, , ” Austin, Kyiv’s, Keir Starmer, Russia …, Jean, Noel Barrot, Putin’s, Josep Borrell, Dmitry Peskov, “ Russia’s, Keir Giles, Biden, ” Giles Organizations: Ukraine, Kyiv, West . Defense, NBC News, Union, Tass, Kremlin, Moscow Locations: United States, Moscow, Ukraine, U.S, Russia, Europe, Washington, British, Brazil, Western, London, Chatham, Eurasia
The House Ethics Committee weighs releasing their report on Matt Gaetz. And Susan Smith, who made headlines for killing her sons 30 years ago, is up for parole. The Ethics Committee has jurisdiction only over sitting members of Congress, Johnson argues. But there is precedent for the Ethics Committee to publish reports after a member of Congress has resigned. Susan Smith up for parole 30 years after killing her sonsSusan Smith leaves court after a hearing in Union, S.C., in 1995.
Persons: Matt Gaetz, Susan Smith, Donald Trump, Gaetz, Susan Wild, Joel Leppard, Mike Johnson, Trump, Johnson, Read, Mike Cavanaugh, , Vladimir Putin, Brooks Kraft, Smith’s, Michael, Alex, Smith, Rafael Nadal, Jay Leno, Barbara Gauntt, Chokwe Antar Lumumba, Lumumba, — Bracey Harris Organizations: Comcast, Justice Department, Republicans, Democrats, Gaetz, MSNBC, Syfy, Golf, CNBC, Oxygen, NBC News, NBC, Bravo, United, Brooks, Brooks Kraft LLC, Getty, South, Davis, Mississippi State Capitol, Clarion, Ledger, Residents Locations: Florida, USA, U.S, Kyiv, United States, Ukrainian, Russian, Ukraine, Union, South Carolina, Northern California, Pacific, California, Jackson
The United States said Wednesday that its embassy in the Ukrainian capital, Kyiv, had closed after receiving "specific information of a potential significant air attack." "Out of an abundance of caution, the Embassy will be closed, and Embassy employees are being instructed to shelter in place," it said in a security alert, recommending U.S. citizens take shelter if an air alert is announced. Shutting the embassy is not an unprecedented move amid the war, which reached its 1,000th day Tuesday. Searchlights look for Russian drones in the skies over Kyiv, in the early hours of Wednesday morning. Moscow could justify a nuclear strike if subject to an attack by a nonnuclear country that is supported by a nuclear country, according to the revised doctrine.
Persons: Serhii, Gleb Garanich, Vladimir Putin Organizations: Embassy, Kyiv’s, Military Administration, Reuters Locations: States, Kyiv, Ukrainian, Russian, Dniprovskyy, Ukraine, Bryansk, Moscow
• The US embassy in Ukraine’s capital Kyiv said it would be closed today after it received “specific information of a potential significant air attack.” Air raid sirens were activated in the city several times overnight. The US said it doesn’t see any indication that Russia is preparing to use a nuclear weapon in Ukraine. • Moscow’s fresh round of nuclear saber rattling follows the US move to allow Ukraine to strike targets deep inside Russia with American-made weapons. Ukraine hit a Russian weapons arsenal with the ATACMS missiles, which it fired across the border for the first time yesterday, according to two US officials — a major escalation on the 1,000th day of war. • The US has also approved sending anti-personnel mines to Ukraine for the first time, according to two US officials — another major policy shift.
Persons: Vladimir Putin, , Locations: Ukraine’s, Kyiv, Russia, Moscow, Ukraine, American, Russian
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AdvertisementNorth Korea appears to have transferred different types of artillery systems to Russia. The development comes as North Korean troops are fighting against Ukraine on behalf of Russia. North Korea appears to have sent its big guns to Russia, furthering its support of Moscow's grinding war against Ukraine, a conflict in which artillery has been a dominant player. AdvertisementImages began to surface on social media last week showing what were identified as North Korean "Koksan" 170mm self-propelled howitzers traveling by rail across Russia. North Korea now shipping artillery systems to Russia — this in addition to shells, men, and missiles it is already sending.
Persons: Kasapoğlu, ZHBemaVVXM, 3lOtCi13TO — Oliver Carroll, Chung Sung, it's, Joe Biden Organizations: Ukraine, Western, Hudson Institute, Korean, Center for Strategic, Studies ' Missile, Artillery Rocket Systems, US Defense Intelligence Agency, DIA, Getty, Artillery, North Korean, Kyiv's, NATO Locations: Korea, Russia, South Korea, North Korea, Ukraine, Korean, Pyongyang, Kyiv, Moscow, Seoul, Kursk
KYIV, UKRAINE - JANUARY 24: A view of the U.S. Embassy on January 24, 2022 in Kyiv, Ukraine. According to media reports the embassy has ordered family members of embassy staff to leave the country and has also urged U.S. citizens in Ukraine to leave as well. (Photo by Sean Gallup/Getty Images)The U.S. closed its embassy in Kyiv on Wednesday, warning that it has "received specific information of a potential significant air attack" amid soaring tensions with Russia. "The U.S. Embassy recommends U.S. citizens be prepared to immediately shelter in the event an air alert is announced," it added. Air alerts in Kyiv are a common occurrence, as the Ukrainian capital suffers frequent drone and missile attacks from Russia.
Persons: Sean Gallup Organizations: U.S, Embassy, Getty, Air, White, Sunday Locations: KYIV, UKRAINE, Kyiv, Ukraine, U.S, Russia, The U.S, Moscow, Washington
Ukraine fired a number of British Storm Shadow cruise missiles into Russia’s Kursk region on Wednesday, a day after firing American long-range missiles into the country, according to Pentagon and Ukrainian officials. But President Biden last week authorized the first use of the American Army Tactical Missile Systems, known as ATACMS, deep inside Russia. American officials say the pivot was in response to Moscow’s surprise decision to bring North Korean troops into the fight. Prime Minister Keir Starmer of Britain quickly followed suit, authorizing Ukraine to use the Storm Shadows, officials said. Britain had previously allowed Ukraine to use the missiles against Russian positions within Ukrainian territory.
Persons: Biden, Keir Starmer Organizations: British Storm, Pentagon, American Army Tactical Missile Systems Locations: Ukraine, Kursk, Moscow, United States, Britain, Russia
AdvertisementUkraine has long been restricted from using Western missiles to strike inside Russia. Kyiv has since used both ATACMS and Storm Shadow missiles to hit targets on Russian soil. Ukraine is finally using its powerful, longer-range Western missiles to strike targets inside Russia after waiting over a year for permission. AdvertisementUkraine fired a volley of at least 10 Storm Shadow missiles into Russia, The Wall Street Journal reported, citing Ukrainian and Western officials. Ukraine long pressed its Western partners to allow it to fire Storm Shadow missiles across the border into Russia.
Persons: Joe Biden, Lockheed Martin, Volodymyr Zelenskyy, JUSTIN TALLIS, Donald Trump Organizations: Storm, Street Journal, UK, Storm Shadow, North Korean, Defense Express, Euromaidan Press, NATO, Army Tactical Missile Systems, Ukraine's, Artillery, South Korean Defense Ministry, Getty, MBDA, Ukraine, Shadow, US, White Locations: Ukraine, Russia, Kyiv, Russia's, Bryansk, Russia's Kursk Oblast, Kursk, Britain, France, North Korea, Russia's Kursk, Ukrainian
CNN —Ukraine launched the British-French-made Storm Shadow missiles at targets inside Russia for the first time on Wednesday, according to a Russian military blog and Reuters, a day after Ukraine fired US-made ATACMS missiles into Russia. When Umerov was asked if Ukraine used the Storm Shadow missiles to hit a target inside Russia, he replied, “we are using all the means to defend our country, so we’ll not go into detail. A weapons expert who reviewed the video for CNN said there are no indications the explosions are from a different type of munition, but it’s not possible to definitively say they are from Storm Shadow missiles. The UK and France have previously supplied the long-range Storm Shadow missiles for Ukraine to use inside its own borders. Ukraine used eight long-range US missiles to successfully hit an ammunition depot deep inside Russia, according to two US defense officials.
Persons: Rustem Umerov, Umerov, , we’ll, Trevor Ball, Paul Adams, Shadow, Biden, Volodymyr Zelensky, Organizations: CNN —, Reuters, Ukraine’s, UK Ministry of Defense, CNN, Storm, US Army, Storm Shadow, French Ministry of Defense, , Ukrainian, Ukraine, Sunday, Russian Ministry of Defense Locations: CNN — Ukraine, British, Russia, Russian, Ukraine, Kursk, Marino, Ukrainian, France, “ Ukraine, Bryansk
Kyiv, Ukraine CNN —It is a very specific and high-profile warning, so you would expect the information behind it to have been quite precise. The US Embassy in Kyiv has not closed since it relocated during the opening months of Russia’s invasion of Ukraine in 2022. But on Wednesday, it announced a one-day closure, citing “specific information of a potential significant air attack.” Kyiv endures air attacks on an almost nightly basis – but the US step suggested a fear of being potentially targeted. Ukrainian defense officials even derided a fake warning circulated widely on Telegram claiming a massive Russian air attack, as being crude Russian-produced misinformation. Residents in Kyiv struggled to reconcile the specific nature of the US warnings, with the quotidian daily threat they face.
Persons: Volodymyr Zelensky, Mykhailo Podolyak, , Anya, , Tanya Dzafarowa, Donald Trump, Putin Organizations: Ukraine CNN, 1001st, CNN, Residents, US, Kremlin, NATO Locations: Kyiv, Ukraine, Spanish, Moscow, Russia, Krivyh, AFP,
CNN —President-elect Donald Trump has chosen Matthew Whitaker, who served as acting attorney general during Trump’s first term, as his pick to be US ambassador to NATO. During the campaign, Trump also indicated he would only adhere to NATO’s mutual defense commitment for countries who are contributing enough of their annual budgets to defense. He served as the former acting attorney general in Trump’s first term and temporarily led the Justice Department after Trump fired Jeff Sessions. During brief tenure at the top of DOJ, Whitaker quickly took charge of Mueller from Deputy Attorney General Rod Rosenstein. Before becoming the acting attorney general, Whitaker was the US attorney for the Southern District of Iowa and chief of staff to Sessions.
Persons: Donald Trump, Matthew Whitaker, Trump’s, Matt, ” Trump, “ Matt, Whitaker, , Trump, JD Vance, , , Mark Rutte, Jeff Sessions, Robert Mueller’s, Mueller, Rod Rosenstein Organizations: CNN, NATO, Patriot, NATO Allies, AMERICA, Russia, Ukraine, Trump, Justice Department, Sessions, DOJ, Democratic, Southern, Southern District of Locations: States, Ukraine, Kyiv, Russia, Paris, Europe, North America, Trump’s, Southern District, Southern District of Iowa
"It's now eating into stocks," he said on Tuesday of advanced weapon shipments to Ukraine and Israel. The US Navy's top commander in the Indo-Pacific raised concerns on Tuesday that the Pentagon's advanced weapons shipments to Ukraine and Israel could sap the strength it needs to deal with China. While speaking at the Brookings Institution, Adm. Samuel Paparo said he initially hadn't been concerned with the weapons sent to the Middle East and Europe. Adm. John Aquilino, Paparo's predecessor at Indopacific Command, said in March that China could be ready to invade Taiwan as early as 2027. AdvertisementPress teams for the Pentagon and Indo-Pacific Command did not respond to requests for comment sent outside regular business hours by Business Insider.
Persons: Sam Paparo, Paparo, Samuel Paparo, hadn't, who's, it's, John Aquilino, Mike Miniham Organizations: Pentagon, US, Brookings Institution, Pacific Command, Patriots, Israel, Indopacific Command, US Air Force, Press, Business Locations: China, Ukraine, Israel, East, Europe, Kyiv, People's Republic of China, Russia, Taiwan, Beijing
ET, the yield on the 10-year Treasury was up by over four basis points to 4.4178%. The 2-year Treasury yield was last trading at 4.2932% after rising by more than two basis points. U.S. Treasury yields were higher on Wednesday as investors considered the geopolitical situation and assessed the latest economic data. Elsewhere, investors weighed the latest economic data, with new housing starts falling short of expectations in October, and building permits slipping month over month, according to data published Tuesday. Later in the week, investors will be watching out for October's flash purchasing managers' index reports from S&P Global for the services and manufacturing sector.
Persons: Vladimir Putin, Donald Trump's Organizations: Treasury, U.S, Investors, Global, Federal Reserve Locations: Russia, Ukraine, U.S, Ukraine's, Kyiv
Members of the EU Parliament applaud at the end of a videoconference speech by Ukrainian President Volodymyr Zelensky at the EU Parliament in Brussels, Belgium, on Tuesday. Nicolas Tucat/AFP/Getty ImagesUkraine is hoping to make 2025 “the year of peace,” President Volodymyr Zelensky said in an address to the European Parliament held to mark the 1,000th day of Russia’s full-scale invasion of Ukraine. “Ukraine deserves to make the next year the year of peace,” Zelensky said in a video call to lawmakers in Strasbourg, France. “Ukrainian people have endured 1,000 days of this war,” he said in a later post on social media. We must do everything to end this war fairly and justly,” he said.
Persons: Volodymyr Zelensky, Nicolas Tucat, ” Zelensky, , Zelensky, Donald Trump, Trump, Putin, Organizations: EU, Getty, , White, Ukraine Locations: Brussels, Belgium, AFP, Ukraine, “ Ukraine, Strasbourg, France, Europe, Russia
Russian President Vladimir Putin formally lowered the threshold for his country's use of nuclear weapons Tuesday, days after the United States allowed Ukraine to strike inside Russia using American missiles. The Kremlin announced that Putin had approved an updated nuclear doctrine — a document that governs how Russia uses its nuclear arsenal — including the declaration that Moscow could unleash a nuclear strike if subject to an attack by a non-nuclear country that has the support of a nuclear state. “The nuclear doctrine update was required to bring the document in line with the current political situation,” Kremlin spokesperson Dmitry Peskov told the TASS state news agency in comments published early Tuesday. Still, the use of nuclear weapons would be a “last resort measure,” he added. Putin had signaled the update to his country’s policy earlier this year as he sought to warn the West against loosening restrictions on Kyiv's use of long-range weapons to strike deep inside Russia.
Persons: Vladimir Putin, Putin, Dmitry Peskov, Peskov, Biden Organizations: Kremlin, TASS, Russian Federation, NATO, NBC News Locations: United States, Ukraine, Russia, American, Moscow, Belarus, U.S, Russia's Kursk, Washington
AdvertisementPutin on Tuesday signed major changes to Russia's nuclear doctrine. The Kremlin said the changes were directed at Ukraine's ability to use US-supplied weapons in strikes on Russia. President Vladimir Putin approved an update to Russia's nuclear doctrine, widening the scenarios in which it would consider a strike. They build on a series of nuclear threats Putin has issued since the beginning of the full-scale war in Ukraine, though none have come to pass. The new doctrine also expands the circumstances for the potential use of nuclear weapons.
Persons: Putin, Biden, Vladimir Putin, Sitara Noor, Dmitry Peskov, Volodymyr Zelenskyy, Joe Biden, Alexander Gabuev, Donald Trump's, Sinéad Baker Organizations: Kremlin, Lowy Institute, Carnegie Russia Eurasia Center, NATO Locations: Russia, Ukraine, Kyiv
Global stocks drop amid heightened US-Russia tensions
  + stars: | 2024-11-19 | by ( Matt Egan | ) edition.cnn.com   time to read: +1 min
CNN —Markets experienced volatility Tuesday as investors weigh mounting tensions between Russia and the United States. The turbulence comes after Moscow changed its nuclear doctrine following the Biden administration giving Ukraine permission to use longer-range weapons inside targets in Russia. The attack comes just two days after the Biden administration gave Kyiv the green light to use the longer-range American weapons against targets inside Russia. On Sunday, President Joe Biden authorized Ukraine to use the longer-range missiles inside Russia, ending a monthslong prohibition aimed to avoid drastically escalating the conflict. “In our view, the underlying trends for the equity market remain positive, but this news provides an excuse for the market to give back some of its rally,” said Keith Lerner, chief market strategist at Truist Advisory Services.
Persons: Dow, Biden, , Hogan, Joe Biden, Keith Lerner Organizations: CNN —, Nasdaq, Riley Wealth Management, Treasury, Russia’s Defense, Advisory Locations: Russia, United States, Moscow, Ukraine, , Bryansk
AdvertisementUkraine said it destroyed nearly all the hypersonic missiles that Russia fired in a big weekend attack. The Ukrainian military said it destroyed nearly all of the hypersonic missiles Russia launched as part of a massive bombardment over the weekend. The purported success of Ukraine's air defenses during the engagement marks the latest blow to the reputation of Russian hypersonic weapons, which Moscow has touted as highly advanced systems that are basically unstoppable. AdvertisementUkraine has several air-defense systems that it says are capable of taking down Russia's hypersonic missiles, including the French/Italian-made SAMP-T and American-made MIM-104 Patriot battery. The Kiel Institute for the World Economy, a German research institute, notes that data on hypersonic missile interception rates is scarce.
Persons: Vladimir Putin, Gorshkov, SERGEI SUPINSKY, Oleksandr Syrskyi, Syrskyi, Lockheed Martin Organizations: Russia, Russian Ministry of Defense, Russian, NATO, Getty, Kyiv, Kiel Institute Locations: Ukraine, Russia, Moscow, Russian, Kyiv, AFP
Changes to Russia's nuclear doctrine have been drawn up and will be formalized as necessary, the Kremlin said on Tuesday, signaling again Moscow's concern over the latest U.S. decision on missile strikes from Ukraine. The Kremlin called on Monday the reported decision by President Joe Biden's administration to allow Ukraine to fire American missiles deep into Russia reckless and it warned that Moscow will respond. Russia calls its war in Ukraine a special military operation, while Kyiv and its Western allies call it an unprovoked, imperialistic land grab. Western analysts have called the changes an escalation in Moscow's attempts to dissuade the West from expanding its military aid to Ukraine. The war in Ukraine has triggered the worst crisis in Moscow's relations with the West since the 1962 Cuban Missile Crisis.
Persons: Vladimir Putin, Dmitry Peskov, Joe Biden's, Volodymyr Zelenskyy, Putin, Peskov Organizations: Security, Kremlin, TASS, NATO, Reuters, Cuban Missile, Washington Locations: Constantine, Strelna, Saint Petersburg, Russia, Ukraine, Moscow, United States, The U.S, Korean, Washington, Kyiv
CNN —The Biden administration has approved sending anti-personnel mines to Ukraine for the first time in another major policy shift, according to two US officials. But until now, the Biden administration had not provided Ukraine with anti-personnel mines over concerns about the enduring danger they may pose. In June 2022 – four months after the start of the war in Ukraine – the Biden administration pledged to limit the use of anti-personnel mines. Kostya Liberov/Libkos/Getty ImagesThe announcement of anti-personnel mines for Ukraine, especially with only weeks left in the Biden administration, is a sudden change on what had been a long-standing policy. Russia has deployed anti-personnel mines and anti-tank mines since the earliest days of the war.
Persons: CNN —, Biden, , Ukraine –, Trump, Kostya, Organizations: CNN, US, Ukrainian, Washington Post, Biden, Russian Locations: Ukraine, Russia, Kyiv, Moscow, Ukrainian, South Korea
Russian President Vladimir Putin speaks during a plenary session of the Valdai Club on Nov. 7, 2024 in Moscow, Russia. Contributor | Getty Images News | Getty ImagesGlobal stocks fell and investors fled to safe-haven assets on Tuesday, as global markets reacted to escalating tensions between the world's two largest nuclear powers: Russia and the U.S. The pan-European Stoxx 600 stock index was down almost 1% at 12:23 p.m. London time, hitting 498.56 points — its lowest level since August. The declines come after Russian President Vladimir Putin amended Russia's nuclear doctrine that outlines the conditions that would prompt Moscow to deploy its nuclear arsenal, Russian state news agency Tass reported Tuesday. In currency markets, the Japanese yen rose 0.7% and 0.36% against the euro and U.S. dollar respectively at 12:26 a.m. London time.
Persons: Vladimir Putin, Dmitry Peskov, USDJPY, Wells, Erik Nelson, Putin, Tiffany McGhee, CNBC's, Ice Brent Organizations: Valdai, Getty, U.S, Dow Jones, Nasdaq, Russian Federation, NBC News, Swiss, CNBC, U.S ., NATO, White, Kremlin, Russian Defense Ministry, Kyiv, NBC, Ukrainian, Staff of, Armed Forces, Ice Locations: Moscow, Russia, London, U.S, Republic of Belarus, Russian, Ukraine, Kyiv, Soviet, Bryansk, America
AdvertisementNorth Korean troops in Russia help Putin beyond sheer manpower needs — they help him at home, too. "The deployment of roughly 100,000 North Korean personnel would only replace Russian losses for less than three months," the think-tank wrote. In total, that could mean 100,000 North Korean troops cycling in and out of combat within a year, he said. The North Korean troops in Russia are believed to be special forces, which South Korean intelligence estimates say consist of about 200,000 members in total. AdvertisementSeoul also says that Russia is paying about $2,000 a month for each North Korean soldier.
Persons: Putin, ISW, Vladimir Putin, Kim, Russia's, Dmytro, Kim Jong Un Organizations: Putin, Kremlin, Institute for, Korean, Bloomberg, North Locations: Russia, The Washington, Moscow, Ukraine, Pyongyang, Kursk, Kyiv, North Korea, South Korea, America, Seoul, Korean, South
CNN —Ukraine has fired US-made ATACMS missiles into Russia’s Bryansk region, Russia’s Defense Ministry said, in a major escalation on the 1,000th day of war. The attack comes just two days after the Biden administration gave Kyiv the green light to use the longer-range American weapons against targets inside Russia. The attack marks the first time Ukraine has used the longer-range American weapons to strike targets deep inside Russia, and show that Kyiv has wasted little time in making use of its newly-granted powers. ET) Tuesday, Ukraine fired six ballistic missiles at a facility in Bryansk, the ministry said. On Sunday, US President Joe Biden authorized Ukraine to use longer-range American missiles inside Russia, ending a months-long prohibition aiming to help Ukraine defend itself while not drastically escalating the conflict.
Persons: Biden, Joe Biden, Matthew Miller, Vladimir Putin, ., Andrew Dickson, , Emmanuel Macron, Putin, Volodymyr Zelensky, Zelensky, Organizations: CNN, Russia’s Defense Ministry, US State Department, Army Tactical Missile Systems, Kyiv, Bryansk –, High Mobility Artillery, U.S . Army, Missiles Locations: Ukraine, Bryansk, Russia, Russian, Ukraine’s, pummeling, Russia’s Kursk, Europe, Bryansk – Moscow, Moscow, Queensland, Australia
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