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A man views a digital board showing Russian ruble exchange rates against the euro and the US dollar outside a currency exchange office. On March 2, 2022, the Russian ruble hit record lows with the US dollar and the euro rates reaching 110 and 122 at the Moscow Exchange respectively. Mikhail Metzel | CASS | […]
The US ban on Russian oil could exacerbate already-spiking oil and food prices, analysts warned, and that could set off a recession if escalated further. If Russia retaliates by refusing to supply Europe with oil, that could “easily” send oil prices up another $20 to $30 per barrel, said Andy Lipow, president of Lipow Oil […]
European oil giants Shell SHEL 3.18% PLC and BP BP 5.21% PLC said they were stepping back further from doing business with Russia, with Shell saying it will immediately halt all spot purchase of crude from the country and will phase out its other trading and business dealings. A spokesman for BP said it won’t […]
The Dow Jones Industrial Average dropped more than 700 points, putting the blue-chip gauge on track to enter a correction, as surging oil prices deepened concerns about economic growth. The Dow industrials were recently down 2.1%, or about 713 points, following four consecutive weeks of losses. At that level they would close in a correction, […]
US stocks and global equity indexes dropped as the threat of a potential ban on Russian oil imports spurred a surge in energy prices that investors worry could smother economic growth, especially in Europe. The Dow Jones Industrial Average and S&P 500 declined between 0.2% and 0.4% in early Monday trading. The Nasdaq Composite Index […]
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