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On May 10, local time, Russian Presidents Press Secretary Peskov said that Russia is actively developing relations with many countries and will continue to do so. Peskov pointed out that it is very difficult to isolate Russia because Russia occupies a very important position in the world. In addition, Peskov also said that Russian President Putin is willing to engage with leaders of any country in the world, and he is willing to interact to the extent that they are ready to cooperate.On May 10, California Governor Gavin Newsom criticized the U.S. federal government in a video posted on social media. He said that the U.S. governments current tariff policy "may cause the United States to lose its position as the worlds largest economy." In the video, he criticized the U.S. governments tariff policy for blocking U.S. imports and directly affecting the daily lives of ordinary people. "In a few months, people will lack school bags and Christmas toys. Tariffs will make American families even worse." Newsom said that as the state with the strongest economic power in the United States, California occupies an important position in the global economy, precisely because California is committed to "reducing trade barriers and providing quality services to American consumers", but the current tariff policy is undermining all of this, leading to rising prices and stagnation at ports.Kremlin: European countries statements have a "confrontational character".May 10th news: On the evening of May 9th local time, a US federal judge ruled that the Trump administration may not continue to advance its large-scale layoffs or major restructuring plans for multiple federal agencies based on an executive order issued in February this year.Ukrainian President Zelensky: We all agree that the conflict in Ukraine must be ended "in a dignified and peaceful manner."

The Dollar Falls And Oil Prices Rise When The Fed Raises Interest Rates

Skylar Williams

Feb 02, 2023 11:57

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The dollar fell as the U.S. Federal Reserve boosted interest rates by 25 basis points, pushing oil prices up in early Asian trade on Thursday.


Brent crude futures increased by 56 cents, or 0.7%, to $83.40 per barrel, while West Texas Intermediate (WTI) crude futures increased by 65 cents, or 0.8%, to $77.05 per barrel.


Wednesday, the Federal Reserve increased its target interest rate by a quarter of a percentage point and reaffirmed its commitment to "continuous rises" in borrowing rates as part of its ongoing fight against inflation.


The U.S. central bank acknowledged explicitly the progress done in reducing the rate of price increases from the 40-year highs reached last year.


A weakening dollar makes oil priced in U.S. dollars less expensive for holders of foreign currencies, hence increasing demand.


The U.S. dollar ended the session at 101.15, down 0.3% against a basket of currencies.


In light of the European Union's February 5 ban on Russian refined products, prices are also rising.


Diplomats said EU governments will seek a consensus on a European Commission proposal to establish price ceilings on Russian oil products on Friday, after postponing a decision on Wednesday due to disagreements among member states.


Last week, the European Commission suggested that, beginning February 5, the European Union impose a price restriction of $100 per barrel on premium Russian oil products such as diesel and a price cap of $45 per barrel on discounted items such as fuel oil.



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