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Mass selloff of petroleum by portfolio investors has been registered for four successive weeks. A notable sale of petroleum-related futures and options took place over the previous week as well.

European Union members are going to make a fresh start on a deal with gas prices. A controversial proposal to set a price cap for fuel came out at the regulator's last meeting in order to protect consumers and enterprises.

The U.S. budget deficit increased by $57 billion in November, that is, by 30% compared to the previous year, amounting to $249 billion.

According to chief credit strategist at BNP Paribas Japan Mana Nakazora, the Bank of Japan should shift from its monetary policy measures. Thus, the central bank would be more flexible in adjusting interest rates to the differential pace of monetary policy tightening across countries.

According to Moody's Analytics, the revision of the Bank of Japan's (BOJ) policy under a new governor is likely to result in minor adjustments to the Central Bank policy.

According to economists at the British bank HSBC, Australian and Canadian dollars will be quite vulnerable in the near term. However, both currencies should gradually recover next year.

For the second month in a row, the number of wells drilled by U.S. oil and gas companies exceeds the number of completed wells, which is typical for slowing production.

Japan and the Netherlands expressed their support for the U.S. plan to tighten controls on exports to China. Thus, the countries are set against supplying the necessary equipment to China. Consequently, such an initiative could cause serious damage to Beijing's technology ambitions.

As it was told by China’s ambassador to the U.S. on Monday, the country’s authorities are going to further ease its COVID-19 restrictions. He also added that China is planning to have more visitors from abroad in the near future.

Tiff Macklem, governor of the Bank of Canada, said that a sharp rise in interest rates is likely to push the country into a deeper recession. But the central bank's failure to tackle inflation presents greater risks to the economy of Canada.