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German Chancellor Merz: Germany will apply for at least two of the five AI super factories in the EU. We do not want our data to be stored in the United States or other countries.July 3, Russias auto market shrank in the first half of 2025 as high borrowing costs and fees deterred many potential buyers, which threatened to reverse the industrys two-year rebound growth. Data from the European Business Association showed that from January to June this year, sales of Russian passenger cars and light commercial vehicles fell to 546,430 units, down 27% from the same period last year. The organization also lowered its forecast for 2025 by about 9 percentage points, and now expects a 24% drop from last year.German Chancellor Merz: The United States is pushing us to implement more banking supervision, but it does not apply these rules to itself, so we need to rethink this issue.July 3, Ukraines Energy Ministry said on Thursday that the European Union has increased the maximum capacity for electricity imports from Ukraine by 38.5%, giving Kiev an opportunity to earn money to rebuild power facilities destroyed by Russian attacks. The new limit of 900 megawatt-hours will last until August 1 and will then be reviewed monthly. Before the outbreak of the Russian-Ukrainian conflict in 2022, Ukraine began exporting large amounts of electricity to the European Union. After Russia destroyed Ukrainian power generation facilities, Ukraine stopped power supplies and then restored them earlier this year. "Increasing the maximum export capacity is an important step that will make it easier to balance the Ukrainian energy system," said Ukrainian Energy Minister German Galushchenko. "It will also allow Ukrainian power plants to make extra profits to cope with the consequences of the Russian attack and prepare for the winter."Robinhood (HOOD.O) shares fell about 2% in pre-market trading after OpenAI denied any connection with the Robinhood token.

Energy Prices Fall As Concerns About Russia's Oil Sanctions Grow

Aria Thomas

Apr 08, 2022 09:22

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Brent oil futures slid 49 cents, or 0.5 percent, to $100.58 a barrel, while West Texas Intermediate (WTI) crude in the United States sank 20 cents, or 0.6 percent, to $96.03 a barrel. Both benchmarks fell more than 5% in the previous session to their lowest closing levels since March 16.


Josep Borrell, the European Union's top diplomat, warned a NATO summit that fresh EU sanctions, including a ban on Russian coal, may be adopted Thursday or Friday, and the group would next consider an oil embargo.


The coal prohibition, on the other hand, would take effect in its entirety in mid-August, a month later than originally anticipated.


"Nobody wants to take the risk of sanctioning Russian energy, which has been propping up the market," said Bob Yawger, director of energy futures at Mizuho.


India has maintained its purchases of discounted Russian crude oil imports, avoiding the loss of 2-3 million barrels of Russian oil per day expected by experts.


"While such a loss is still conceivable after contracts expire and India's refinery or storage requirements are met, such a scenario is still weeks, if not months, away," said Jim Ritterbusch, president of Ritterbusch and Associates LLC in Galena, Illinois.


Multiple outbreaks of the virus in China have triggered significant lockdowns in the country's largest metropolis, Shanghai.


"The demand situation in China is very dire, even more so now that there is so much fresh supply on the market," said John Kilduff, a New York-based partner at Again Capital LLC.


On Wednesday, member nations of the International Energy Agency (IEA) agreed to release an additional 60 million barrels on top of the 180 million barrels promised last week by the United States to help bring down gasoline prices.


Japan's Kyodo news agency stated that the country would release 15 million barrels of oil from public and private stockpiles.


"While this is the largest release since the stockpile was established in 1980, it will ultimately fail to alter the oil market's fundamentals," ANZ bank stated of the US dump.


According to ANZ, the announcement will likely postpone any producer production rises and may provide OPEC+ with further "breathing space despite requests to expand output further."


Other experts saw the stock market's rebound as a significant relief despite worries about market tightening.


"In light of these volumes, prior fears about supply constraints are no longer warranted, as seen by the price trend," Commerzbank (DE:CBKG) stated, adding that Brent prices had fallen by nearly $12 a barrel since the initial indication of a US release last week.


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