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Search resuls for: "Joe Wall"


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☆ Russia Threatens to Cut Oil Output in Response to Western Sanctions
  + stars: | 2022-12-23 | by ( Evan Gershkovich | Joe Wallace | Andrew Duehren | ) www.wsj.com   time to read: 1 min
MOSCOW—Moscow threatened to cut oil output in response to Western price caps, setting the stage for an escalation of the energy war that has run parallel to the conflict in Ukraine. Speaking on state television on Friday, Russian Deputy Prime Minister Alexander Novak detailed for the first time Moscow’s possible response to the Western price caps, instituted earlier this month. Mr. Novak said Russia could reduce its production by 500,000 to 700,000 barrels a day—which he described as a 5% to 7% reduction in capacity—by early next year.
☆ Stocks Tumble After Robust Economic Data
  + stars: | 2022-12-22 | by ( Joe Wallace | Jack Pitcher | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/global-stocks-markets-dow-update-12-22-2022-11671711835
☆ Coal, No Longer Shunned, Keeps Europe’s Lights on Through Frigid Weather
  + stars: | 2022-12-22 | by ( Joe Wallace | Karolina Jeznach | ) www.wsj.com   time to read: 1 min
Coal use in Europe rose this month when icy, calm weather quieted wind farms and strained electricity systems. Europe passed its first winter test without Russian energy, keeping the lights on through this month’s cold blast. The secret to its success: burning more coal than it has in years. Consuming large amounts of coal represents a difficult choice for European nations that had promised to ditch the carbon-intensive fuel to contain climate change. Russia’s cut to natural-gas supplies after invading Ukraine and outages at French nuclear plants have spurred the revival.
☆ Stocks Finish Lower After Robust Economic Data
  + stars: | 2022-12-22 | by ( Joe Wallace | Jack Pitcher | ) www.wsj.com   time to read: 1 min
Stocks fell Thursday after economic data pointed to a strong labor market and faster economic growth than previously thought. The S&P 500 tumbled 56.05 points, or 1.4%, to close at 3822.39. The Dow Jones Industrial Average fell 348.99 points, or 1%, to 33027.49. The technology-focused Nasdaq Composite lost 233.25 points, or 2.2%, to close at 10476.12. U.S. markets had rallied Wednesday, fueled by signs of revived consumer confidence, but on Thursday they were on track for their third consecutive weekly decline.
☆ European Energy Ministers Agree to Emergency Natural-Gas Price Cap
  + stars: | 2022-12-19 | by ( Kim Mackrael | Joe Wallace | ) www.wsj.com   time to read: 1 min
BRUSSELS—European energy ministers reached a political agreement Monday to impose an emergency limit for natural-gas prices, which have been sent soaring by Russia’s invasion of Ukraine. The ministers agreed to impose a price cap if month-ahead prices remain above 180 euros a megawatt hour, equivalent to $191, on the European Union’s main trading hub for three consecutive days. Prices must also be at least €35 higher than a reference level for global liquefied natural gas during the same period.
☆ Stocks Dragged Lower by Mounting Recession Concerns
  + stars: | 2022-12-16 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
Stocks had renewed losses Friday after central banks globally signaled their intent to rein in inflation with higher interest rates. The S&P 500 dropped 1.7%, a day after the benchmark index fell 2.5%. Nearly each of the index’s 11 sectors are in the red.
☆ Stocks Fall, Pressured by Mounting Recession Concerns
  + stars: | 2022-12-16 | by ( Joe Wallace | Eric Wallerstein | ) www.wsj.com   time to read: 1 min
Stocks fell again Friday, with investors forced to wrestle anew with the prospect of higher-for-longer interest rates and the potential for recession. The S&P 500 dropped 43.39 points, or 1.1%, to 3852.36 a day after falling 2.5%. Each of the index’s 11 sectors finished in the red.
☆ Oil Market Takes Russian Price Cap in Stride
  + stars: | 2022-12-09 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
The harshest sanctions yet hit Russia’s energy industry this week. The oil market’s response was to shrug. The absence of a price surge is an early win for U.S. officials who strove to water down European sanctions they feared would snarl up global crude trading.
☆ Oil Price Cap Triggers Tanker Traffic Jam in Turkish Straits
  + stars: | 2022-12-06 | by ( Julie Steinberg | Costas Paris | Joe Wallace | ) www.wsj.com   time to read: 1 min
More than a dozen massive oil tankers were stuck near the exit to the Black Sea, the first noticeable disruption to global energy markets after the West imposed a price cap on Russian crude. The bottleneck in the Turkish Straits, a chokepoint in global shipping, stemmed from a dispute between a group of maritime insurers and Turkish authorities. It illustrates the potential snags caused by novel sanctions that came into effect this week, even though the sanctions were designed to keep Russian oil flowing to the global market.
☆ Oil Price Rises After Russia Cap Kicks In
  + stars: | 2022-12-05 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
Uncertainty around the price cap for Russian crude has dried up sales from Russia in recent weeks. Oil prices rose Monday, after the West imposed sanctions on Russian crude and hopes built that looser Covid-19 restrictions in China would boost demand. The sanctions pitch the energy conflict with Moscow into an unpredictable new phase that could inject further volatility into global oil markets.
☆ Russia Will Rely on ‘Shadow’ Tanker Fleet to Keep Oil Flowing
  + stars: | 2022-12-03 | by ( Joe Wallace | Costas Paris | Anna Hirtenstein | ) www.wsj.com   time to read: 1 min
Shipping companies have snapped up dozens of secondhand oil tankers this year, paying record prices for ice-class ships that can navigate frozen seas around Russia’s Baltic ports in winter. A driving force behind the purchases, say people familiar with the deals: To get Russian oil to market after the harshest sanctions to date strike Russia’s energy industry next week.
☆ Oil Prices Rise as EU Debates $60 Russia Price Cap
  + stars: | 2022-12-01 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
The proposed price cap would set Russian crude prices significantly below the international benchmark. Oil prices rose after The Wall Street Journal reported the European Union executive body asked members to approve a $60-a-barrel price cap on Russian crude, pushing a novel, U.S.-backed market mechanism slated to go into effect next week a step closer to reality. Brent-crude futures rose as high as $89.37 a barrel Thursday, up 2.8% over Wednesday’s close, after the report. The benchmark for international crude sales pared gains later in the session, closing at $86.88 a barrel.
☆ Stocks on Track for Second Straight Monthly Advance
  + stars: | 2022-11-30 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/global-stocks-markets-dow-update-11-30-2022-11669809363
☆ Stocks Gain for Second Month in a Row; Dow Exits Bear Market
  + stars: | 2022-11-30 | by ( Karen Langley | Joe Wallace | ) www.wsj.com   time to read: 1 min
Stocks rallied Wednesday after Federal Reserve Chair Jerome Powell signaled a potential slowdown in interest-rate increases, powering the Dow Jones Industrial Average more than 700 points higher and into a new bull market. The S&P 500 and Nasdaq Composite jumped 3.1% and 4.4%, respectively, and all three indexes ended November with a second consecutive month of gains.
☆ Oil Prices Face Fresh Volatility With New Russia Sanctions, OPEC Decision
  + stars: | 2022-11-27 | by ( Joe Wallace | Anna Hirtenstein | ) www.wsj.com   time to read: 1 min
OPEC and its allies are due to make a big call on oil production next week, a day before expanded sanctions are set to strike Russia’s energy industry. The potential impact of these moves is helping shroud the oil market in uncertainty at a time when coronavirus outbreaks are hammering demand in China.
☆ Stocks Finish Higher in Quiet Session
  + stars: | 2022-11-22 | by ( Joe Wallace | Hardika Singh | ) www.wsj.com   time to read: 1 min
U.S. stocks rose Tuesday in thin preholiday trading, with investors remaining focused on the path of the Federal Reserve’s interest-rate increases. The S&P 500 climbed 53.64 points, or 1.4%, to 4003.58, after dropping 0.4% in the previous session. The Dow Jones Industrial Average gained 397.82 points, or 1.2%, to 34098.10, and the Nasdaq Composite added 149.90 points, or 1.4%, to 11174.41.
☆ Stocks Edge Higher to End a Choppy Week
  + stars: | 2022-11-18 | by ( Hardika Singh | Joe Wallace | ) www.wsj.com   time to read: 1 min
Stocks rose Friday, capping a tumultuous week with investors assessing the outlook for interest rates. The S&P 500 gained 18.78 points, or 0.5%, to 3965.34, while the Nasdaq Composite edged up 1.10 points, or less than 0.1%, or 11146.06. The Dow Jones Industrial Average ticked up 199.37 points, or 0.6%, to 33745.69. All three indexes are down two of the past three weeks.
☆ Stock Futures Fall on Fading Hopes for Fed Slowdown
  + stars: | 2022-11-17 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/global-stocks-markets-dow-update-11-17-2022-11668687278
☆ Stocks Poised for Fresh Gains After Inflation Slowdown
  + stars: | 2022-11-11 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
U.S. stock indexes were poised to extend gains on hopes that slowing inflation will encourage the Federal Reserve to back off its campaign of aggressive interest-rate increases. Futures for the benchmark S&P 500 rose 0.4% Friday, a day after softer inflation data sent the benchmark index to its biggest one-day rise since April 2020, when stocks were recovering from the Covid-19 shock. Contracts tied to the Dow Jones Industrial Average added 0.3% and Nasdaq-100 futures added 0.5%, signaling a continued rally in technology stocks.
☆ Why Biden Tapped America’s 400 Million-Barrel Oil Stockpile
  + stars: | 2022-11-07 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
Why Natural Gas Tankers Are Lining Up Off Europe's Coast Tankers carrying liquefied natural gas are floating off Europe's coast, waiting for the price of the fuel to rise. WSJ’s Joe Wallace explains how the tankers are Europe’s attempt to address the energy shortage and what it might mean for the continent this winter. Photo Illustration: Alexander Hotz/WSJ
☆ Sanctions on Russian Energy Loom Over Oil Market
  + stars: | 2022-11-07 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
Europeans are paying eye-watering prices for diesel, a market that is particularly susceptible to the loss of Russian supplies. Sanctions on Russia will redraw global oil flows over the next three months. Confusion over how the measures will work is making it hard for the energy industry to prepare. Ukraine’s allies are gearing up to hit Russian oil with the toughest restrictions to date starting in early December, an attempt to stem President Vladimir Putin’s influx of fossil-fuel revenue.
☆ Sanctions on Russian Energy Weigh on Oil Market
  + stars: | 2022-11-07 | by ( Joe Wallace | ) www.wsj.com   time to read: 1 min
Europeans are paying eye-watering prices for diesel, a market that is particularly susceptible to the loss of Russian supplies. Sanctions on Russia will redraw global oil flows over the next three months. Confusion over how the measures will work is making it hard for the energy industry to prepare. Ukraine’s allies are gearing up to hit Russian oil with the toughest restrictions to date starting in early December, an attempt to stem President Vladimir Putin’s influx of fossil-fuel revenue.
☆ Europe Cuts Addiction to Russian Energy, Yet Fuel Scramble Continues
  + stars: | 2022-11-04 | by ( Georgi Kantchev | Joe Wallace | ) www.wsj.com   time to read: 1 min
SCHWEDT, Germany—Europe’s dependence on Russian energy is drawing to a close, ending a decadeslong power imbalance and leaving the continent racing to squirrel away fuels and find alternative supplies. The final act of separation: On Sunday, the European Union and the U.K. will bar imports of Russian fuels such as diesel and gasoline. The move follows a ban on Russian crude imports in December. Coal imports stopped last summer. Natural-gas flows from Siberia, once the lifeblood of European industry, have dwindled.
☆ With Energy Crisis Looming, U.K. Weather Agency Is Set to Say How Cold Britain’s Winter Could Get
  + stars: | 2022-10-29 | by ( Denise Roland | Joe Wallace | ) www.wsj.com   time to read: 1 min
The U.K. Meteorological Office’s updated three-month weather outlook is due next week. LONDON—The national weather service here makes a big call Monday: Will Britain’s winter be mild and wet, or cold and dry? The U.K. Meteorological Office is poised to update its seasonal winter outlook next week. The routine report is typically fodder for weather junkies and ski resorts. Amid Europe’s energy crisis, the release is attracting a much wider audience.
☆ U.S.-Backed Plan to Cap Price of Russian Oil Hits Delays
  + stars: | 2022-10-28 | by ( Andrew Duehren | Joe Wallace | ) www.wsj.com   time to read: 1 min
A refinery in the Samara region of Russia. The U.S. wants to limit the profit Russia derives from its sales of oil. WASHINGTON—The Biden administration’s effort to roll out a price cap on Russian oil has hit delays, as the Treasury Department tries to ease industry concerns about the novel sanctions regime at the center of the West’s economic battle with Russia. The U.S. and its allies are preparing to bar businesses in their countries from shipping, financing and insuring Russian oil on Dec. 5 unless the oil is sold below a set price—and had hoped to finalize the plan at least a month ahead of time to prepare oil markets. The U.S. is coordinating the strategy with other Group of Seven advanced democracies and Australia.
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