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US President Trump: I think we are closer to our goal (reaching a ceasefire between Russia and Ukraine) than ever before.On December 16th, the FBI announced the arrest of four suspects on December 15th for plotting bomb attacks at multiple locations in California on New Years Eve. FBI Director Cash Patel posted on social media that the FBI thwarted a "credible and imminent terrorist threat" and arrested four individuals with ties to the Los Angeles area. These individuals identified themselves as members of a radical wing of the far-left group "Turtle Island Liberation Front" and are suspected of planning attacks using improvised explosive devices at five different locations in the Los Angeles area on New Years Eve. "Turtle Island" is an English name for North America.On December 16th, the Argentine government of President Millai announced adjustments to its monetary policy, stating it would begin an initiative to accumulate its depleted foreign exchange reserves. This represents a step closer to the free-floating exchange rate that investors have long desired. Starting in 2026, the pesos trading band will expand at the same rate as monthly inflation, instead of the current 1%. Novembers price increases of 2.5% mean that the trading band could expand at more than twice the current rate in the short term. The central bank stated on Monday that it will also begin accumulating reserves, with a base case scenario target of purchasing $10 billion next year, the specific amount potentially increasing based on currency demand. Following this news, Argentine sovereign bonds surged across the board. The more liquid bonds maturing in 2035 rose by more than 1 cent, reaching nearly 73 cents.On December 16th, local time, Ukrainian President Volodymyr Zelensky and German Chancellor André Merz held a joint press conference in Berlin. Zelensky stated that the US delegation did not make any demands on Ukraine regarding territorial concessions, but merely conveyed Russias position. Regarding the question of whether the US demanded Ukraine withdraw from the Donetsk region, Zelensky said: "I dont think the US made any demands. I believe we are strategic partners. Therefore, I would put it this way: we have heard statements from the US regarding Russian territorial claims or demands. We consider these to be Russian demands." He also stated that Ukraine had conveyed its position to the US.Lockheed Martin (LMT.N) has completed production of its first F-16 Block 70 fleet, delivering them to Bulgaria and Slovakia.

Oil Prices Stable Despite Libya's Supply Disruption, And Shanghai Preparing to Reopen

Haiden Holmes

Apr 19, 2022 09:34

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At 0020 GMT, Brent oil prices were up 21 cents, or 0.2%, to $113.37 per barrel, while US West Texas Intermediate (WTI) crude futures were down 2 cents to $108.19 per barrel.


With the dollar trading at a new two-year high, gains were restricted. A higher dollar is detrimental to foreign-currency oil purchasers.


Both benchmark contracts gained more than 1% in the previous session after reaching their highest level since March 28 after Libya's announcement that it was unable to supply oil from its largest field and had shut down another due to political demonstrations.


The latest supply disruption occurred as China, the world's top oil importer, was anticipated to ramp up demand as industrial units in Shanghai prepared to reopen.


However, demand issues persist as China continues to implement strict controls to minimize COVID outbreaks.


"At the end of the day, we are still in a tractor pull between global supply shortages and China's COVID demand constraint," Stephen Innes, managing director of SPI Asset Management, said in a note.


Meanwhile, the prospect of a European Union embargo on Russian oil in retaliation for Russia's invasion of Ukraine continues to spook the market. Ukraine claimed Tuesday that Russia, which refers to its efforts as a "special operation," has launched an expected fresh onslaught in the country's east.


"The Russian minister's statement that further nations prohibiting Russian oil imports will result in oil prices reaching record highs bolstered market sentiment," ANZ Research analysts said in a report.

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