Other news

Oil prices rallied due to the market optimism on fuel demand recovery. Thus, demand is likely to rebound as China continues to lift restrictions imposed during the COVID-19 pandemic.

The price of gold has increased, exceeding the $1,800 per ounce. This comes as China lifts more and more Covid restrictions, putting pressure on the U.S. dollar amid rising risk assets.

As the government of Germany believes, the country’s key refinery has good prospects to successfully continue operating even in conditions of banning Russian oil supply.

Economists at Commerzbank expect silver to cost $25 by the end of 2023.

From February 1, 2023, a ban on oil exports to countries that implement a price cap will come into force. The date for oil products will be determined by the government later.

A difficult period for the oil market lasting throughout the whole year is about to come to an end. As it is supposed by Commerzbank strategists, Brent Crude Oil prices will rise again next year, reaching a level of $95 in the middle of 2023.

According to a senior industry ministry official, Japan has asked insurance companies to assume additional risks. Such a move was necessary to continue offshore military insurance for liquefied natural gas shippers in waters of Russian Federation.

European underground gas storage (UGS) is more than twice as high as storage withdrawals, which significantly exceeds average values for December. Gas withdrawals from EU inventories dropped, hitting a low for December.

A number of investors with about $1.4 trillion in combined assets have called for taking actions to reduce greenhouse gas emissions.

The head of “Rosgeologia” Sergei Gorkov declared that in 2023, a decrease in offshore geological explorations is expected both in Russia and other countries.