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June 7th news: On June 7th local time, the Ukrainian Prisoner Treatment Coordination Headquarters reported that Russias statement that Ukraine postponed the exchange of detained persons was inconsistent with reality and the agreement on the exchange of detained persons and the return of remains. Ukraine has submitted clear exchange lists, which are based on the categories agreed in Istanbul. Russia has submitted other lists that are inconsistent with the agreed approach. Ukraine has given relevant responses and now expects Russia to take the next step. The two sides reached an agreement on the return of remains, but no specific date has been determined. Russia has taken unilateral actions. Russia has not engaged in constructive dialogue.Ukrainian security official: Ukraine urges Russia to stop "playing tricks" and return to constructive cooperation.Ukrainian security official: Russias claim that Ukraine is delaying the exchange of soldiers remains is not true.Abu Dhabi National Oil Company ADNOC set the official selling price of July Mubarak crude oil at $63.62 per barrel.June 7, European Central Bank board member Vujcic said on Saturday that the ECBs interest rate cuts are nearing their end. The Croatian central bank president said: "I agree that the interest rate cut cycle is nearing its end. If the June economic forecast is realized, I think the current monetary policy stance is appropriate." He stressed that "continuous comparison of the latest data and forecast models is crucial," and pointed out that "inflation exceeding expectations or unexpectedly weak GDP growth (or vice versa) will affect our judgment on the appropriate level of interest rates." These remarks have intensified discussions about the ECBs subsequent policies. Earlier, President Lagarde hinted on Thursday that the easing cycle is nearing its end after eight consecutive interest rate cuts in a year brought the key deposit rate down to 2%.

As oil prices rise, Suncor Energy's quarterly earnings treble

Charlie Brooks

Aug 05, 2022 10:45

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Earnings for the second quarter of Suncor Energy Inc. surged by more than fourfold on Thursday, as the third-largest crude oil producer in Canada benefited from a jump in commodity prices.


Sanctions on Russia, a major oil producer, have compounded supply problems, resulting in an almost 48 percent spike in global crude prices in the first half of the year as energy companies have struggled to boost output to meet rising fuel demand.


Suncor said that its total upstream production increased from 699,700 barrels of oil equivalent per day (boepd) to 720,200 boepd.


The company's refinery crude throughput climbed by around 20 percent to 389,300 barrels per day, while refinery utilization rose from 70 percent in the third quarter of the previous year to 84 percent in the current quarter.


The company's net income for the three-month period ended on June 30 was C$3.996 billion ($3.11 billion), or C$2.84 per share, compared to C$868 million or 58 Canadian cents a year earlier.

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