Energy news

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Stocks volatile after PPI cools and Russian missiles crossed into Poland, BlockFi the next crypto domino to fall

US stocks initially rose after an economic report showed inflation is cooling and after Walmart’s earnings provided optimism this was still going to be a decent holiday season. It was a busy morning with economic data and earnings, but the overall take is that a soft landing still seems possible. Stocks tumbled after reports that Russian missiles crossed over into Poland. This is a significant escalation as Poland is a NATO state.

15-11-2022 15:20 GMT by Edward Moya

Oil rises on geopolitical angst, gold steady but faces strong resistance at $1800

Oil Crude prices remain volatile as energy traders digest another round of economic data that supports the idea that the Fed could still deliver a soft landing and as stockpiles remain near 18-year lows. Earlier crude was lower as Beijing struggles with surging Covid cases. Also what’s keeping the oil market on edge is the proposed price cap on Russian crude. Some analysts expect only a modest drop in Russian production but we won’t find that out until next month. Oil surged after reports

15-11-2022 15:16 GMT by Edward Moya