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On March 22, former Ukrainian Foreign Minister Kuleba said on March 21 when talking about the U.S.-Ukraine negotiations and the Russia-Ukraine conflict that U.S. President Trump would not consider the interests of Ukraine, nor the interests of European countries and the European Union, but only his own interests; but even so, Ukraine had to continue negotiations with him. On the same day, Trump said that he believed that Russia and Ukraine would soon achieve a comprehensive ceasefire, and that the "contract for dividing the land" was being negotiated.According to a report by TASS, citing Russian officials, the terrorist attack that took place at the "Krokus City" concert hall in the suburbs of Moscow a year ago was planned by the intelligence services of "unfriendly" countries towards Russia with the aim of undermining Russias stability.On March 22, Moodys maintained Polands long-term foreign issuer rating at A2 with a stable outlook, saying that Polands vibrant economy and unrestricted EU funds have eased the deterioration of its budget balance sheet. Moodys said that high defense spending makes Poland more resilient to security risks at a time when the United States is showing signs of possibly leaving Europe.Ukrainian President Volodymyr Zelensky visited the Donetsk region in eastern Ukraine.The South Korean government declared a state of disaster in Ulsan and Gyeongsang Province due to the "spread of forest fires."

Oil Rises on Projected Russian Shipments, Balances U.S. Storm Damage

Haiden Holmes

Dec 23, 2022 11:56

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Oil prices increased on Friday on predictions of decreased Russian crude shipments from the Baltic area in December, balancing concerns that a potential Arctic storm across the United States will stifle growth in holiday season transport fuel demand.


Brent crude increased 88 cents, or 1.1%, to $81.86 a barrel at 01:48 GMT, while U.S. West Texas Intermediate crude rose 92 cents, or 1.2%, to $78.41 per barrel.


After the European Union and G7 nations put sanctions and a price ceiling on Russian petroleum on December 5, according to estimations by traders and Reuters, Russia's Baltic oil shipments might decrease by 20 percent compared to the previous month.


"As energy markets focus on Moscow's response to the price ceiling placed on Russian oil, crude prices are on the rise," said Edward Moya, an analyst with OANDA.


Due to the winter storm, more than 4,400 U.S. flights were canceled during a two-day period, coinciding with a Christmas travel season that some estimate would be the busiest ever.


Oil prices on both sides of the Atlantic fell down on Thursday after flights were canceled. The snowstorm might also disrupt holiday travel plans, resulting in a decrease in petroleum use.


Extreme weather is anticipated to produce power disruptions, which might increase the demand for heating oil.


"This Arctic storm may leave many travelers dissatisfied, but it demonstrates that we are moving closer to typical travel practices," Moya added.


Brent and WTI are poised for a second consecutive weekly rise, underpinned by hopes of a resurgence in oil demand from the world's second-largest consumer, China.


However, rising COVID-19 cases on the mainland, fears about more rate rises internationally, and a decrease in gasoline use due to the recession restrained oil price gains.


"China is the largest wild card in the oil market, and there's still confidence that the reopening will continue and eventually increase demand," Moya added.

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