Italy Lobbying EU To Keep Energy Out Of Sanctions Package Against Russia – Italy Government Sources
–Rome hopes any sanctions would unfold in stages, sees energy sanctions as ‘last resort’ given Italy’s dependence on Russian gas By Silvia Marchetti ROME (MaceNews) – Italy is lobbying at the European level to exempt Russian energy exports from the European Union’s potential sanctions as Italy would end up paying the highest price, according to […]
Japan December Exports Continue Rising on Reopening Demand, Car Supply Pickup
— Import Gain Remains High on Energy, Leading to 5th Straight Trade Deficit By Max Sato (MaceNews) – Japanese exports rose from a year earlier for the 10th straight month in December, thanks to reopening demand for iron and steel and electronic parts as well as easing supply constraints for the auto industry, data released […]
Transcript: Wht Hse Offl’s Brief Reports on Release from SPR
WASHINGTON (MaceNews) – The following is the White House transcript of the teleconference providing reporters with information about the announcement of a pending release of 50 million barrels of oil from the Strategic Petroleum Reserve, in coordination with some other countries: Background Press Call by Senior Administration Officials on Oil and Gas Prices Via Teleconference […]
Text of Pres Biden’s Announcement of 50 Mln Bls Release from SPR
WASHINGTON (MaceNews) – The following is the text of the White House announcement Tuesday morning that the president is authorizing the release of 50 million barrels of oil from the Strategic Petroleum Reserve in coordination with China, India, Japan, South Korea and the UK: President Biden Announces Release from the Strategic Petroleum Reserve As Part […]
Japan’s October Energy-Led CPI Rise Capped by Deeper Mobile Phone Discounts
— Gasoline, Heating Oil, Utilities Costs Up Sharply Amid Rising Energy Markets — Total CPI Marks 2nd Straight Y/Y Gain; Slower on Fresh Food Price Drop — Producer Price Spike Has Limited Impact on CPI But BOJ Sees Gradual Pickup By Max Sato (MaceNews) – Core consumer prices in Japan maintained a small step upward […]
Japan Oct Exports Slow on Parts Supply Delays; Steel, Machine Demand Solid
— Imports Up on Rising Energy Costs, Leading to 3rd Straight Trade Deficit By Max Sato (MaceNews) – Year-on-year growth in Japanese exports continued to lose momentum in October as Covid-triggered delays in parts supply from Southeast Asia, microchip shortages and congestion at international ports have forced carmakers and others to trim output and shipments, […]
Eurozone Inflation Again Driven Higher by Energy Costs
ZURICH (MaceNews) – Pushed by continued double-digit growth for energy costs, consumer prices in the Eurozone rose more than forecast for September, the latest data from Eurostat showed. Consumer prices as measured by HICP rose 3.4 percent in September according to preliminary figures, exceeding the median of 3.3 percent in an Econoday survey of economists’ […]
US Data Preview Commentary: Retail Sales, PPI, Hsing Starts, FOMC, New ‘Dot Plot’
WASHINGTON (MacNews) – The explosive snapback of consumer demand, company supply-chain and delivery workarounds and inventory reloading won’t be reflected nearly to the phenomenon’s full extent in Tuesday’s May retail sales report. Just as goods and services productivity being supercharged by firms compensating for the post-pandemic jamming of the economy won’t show up in quarterly […]
US Data Preview: FOMC/Powell News Conf; GDP, Personal Inc, Durables
WASHINGTON (MaceNews) – The week ahead promises no surprises, in the first-quarter GDP report, the FOMC meeting, durable goods report, the price of oil, the president’s address to Congress, the gradually improving trend of virus cases unless … . Unless you count the preternaturally moderate benchmark U.S. 10-year yield. At this writing 1.567%. Who at […]
Re OPEC+, ‘Prudence’ is Watchword as Production Limits Mostly Left in Place
By Brai Odion-Esene, SW4 Insights for Mace News WASHINGTON (MaceNews) – Major oil-producing countries Thursday voted to maintain limits on their collective output levels for another month, arguing that the still-cloudy global economic outlook requires a prudent approach. “The Meeting recognized the recent improvement in the market sentiment by the acceptance and the rollout of […]