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Massoud A Derhally

Massoud A Derhally

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Natural gas flaring at an oilfield. Europe could face higher gas prices if the Ukraine conflict escalates further. AP
Oil hovers above $120 as energy war looms

Ban on Russian imports would be 'catastrophic' for global market and could force prices to surge to more than $300 a barrel, Deputy Prime Minister Alexander Novak says

EnergyMarch 08, 2022
A trader on the the New York Stock Exchange. Oil prices have rallied as the US and EU discuss banning the import of Russian crude. AP
Oil prices soar to highest since 2008 as US considers banning Russian crude

Crude rallies to above $130 a barrel as Washington and its European allies consider enhancing their sanctions against Moscow for its military offensive in Ukraine

EnergyMarch 07, 2022
A digital panel displays the euro and US dollar currency rate at an exchange office in St Petersburg, Russia. EPA
Moody's slashes Russia's ratings deeper into junk and expects economy to shrink 7%

Outlook on country's ratings is negative and decision is due to rise in default risk

EconomyMarch 06, 2022
A demonstrator holds a Ukrainian flag during a rally in support of Ukraine in Los Angeles, California, on March 5. AFP
Ukraine war to have 'severe impact' on global economy: IMF

The lender will bring Ukraine's request for emergency financing of $1.4bn to its board for consideration as early as next week

BusinessMarch 06, 2022
Light trails from heavy traffic on Tverskaya Street by the State Historical Museum in Moscow. The Bank of Russia doubled interest rates to try and shield the nation’s $1.5 trillion economy from sweeping sanctions that hit key banks and pushed the rouble to a record low. Bloomberg
S&P downgrades Russia ratings deeper into 'junk'

Agency said latest cut was a result of G7 government restrictions imposed on the country in response to its military offensive in Ukraine

EconomyMarch 04, 2022
Asian stock markets rebounded on Thursday and oil prices climbed after the head of the Federal Reserve said he supports a smaller rise in interest rates than some expected. AP
Oil heads towards $120 as Ukraine-Russia crisis drags on

Crude rallied even as Opec+ stuck with its plans to increase production levels by 400,000 barrels a day in April

EnergyMarch 03, 2022
A sign displays foreign currency exchange rates at an exchange bureau in Moscow. The Bank of Russia acted quickly to try and shield the country’s $1.5 trillion economy from sweeping sanctions that hit key banks and pushed the rouble to a record low. Bloomberg
Fitch and Moody's downgrade Russia to 'junk' as sanctions bite economy

Russia has eurobond coupon payments of $117 million due on March 16, which if it fails to make or is delayed in paying may lead to further changes to its ratings

BusinessMarch 03, 2022
A board showing the rouble's exchange rate against the US dollar. The Russian currency has tanked under a wave of US and EU economic sanctions. Reuters
Moody's places ratings of 51 Russian companies on review for downgrade as war escalates

Rating action reflects the negative implications for Russia's credit profile as sanctions are imposed, rating agency says

EconomyMarch 02, 2022
An oil and petrochemical storage facility in China. Oil extended its relentless rally before an Opec+ meeting as the International Energy Agency warned that global energy security is under threat following Russia’s military offensive in Ukraine. Bloomberg
Oil rallies to seven-year high as Opec+ meets

The 23-member alliance of oil producers will convene on Wednesday to discuss bringing additional crude supplies to the market

EnergyMarch 02, 2022
Exxon is exiting its business in Russia in response to the country's military offensive in Ukraine. Reuters
Exxon follows peers and will exit Russia amid Ukraine crisis

US energy giant will not invest in new developments in Russia

EnergyMarch 02, 2022
Russians are facing the prospect of higher prices after Western sanctions against Moscow for its military offensive in Ukraine sent the rouble plummeting. AP
Russian rouble's freefall comes to a halt after central bank intervention

Moscow stock exchange remains closed for trading on Tuesday

BusinessMarch 01, 2022
French energy giant TotalEnergies says it will not invest in further projects in Russia. AFP
TotalEnergies declares support for EU sanctions against Russia

The French energy giant will no longer provide capital for new projects in Russia

EnergyMarch 01, 2022
The Russian currency has tanked against the greenback following tighter sanctions aimed at some of its banks. Reuters
Russian central bank hikes rates as rouble sinks to record low after tighter sanctions

Currency sinks following the targeting of some of Moscow's lenders that have been disconnected from the Swift payments network

MarketsFebruary 28, 2022
Crude oil prices jumped following news that Russia had started invading Ukraine on Thursday, pushing the price of Brent above $100 per barrel for the first time since 2014. REUTERS/Christian Hartmann
Oil prices to remain volatile as Russia-Ukraine crisis intensifies

Crude prices weakened after various punitive measures announced by the US and its European allies against Moscow fell short of targeting its energy industry

EnergyFebruary 27, 2022
Stock market boards in Seoul. Asian shares rose Friday after US stocks recovered at the end of a wild trading day. AP
Markets rebound but prolonged Ukraine crisis could push oil above $130

Gold, a hedge against inflationary pressures and a safe haven for investors, retreated to $1,910.58 an ounce

BusinessFebruary 25, 2022
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