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As current challenges in the global economy are unlikely to disappear any time soon, long-term investors should consider increasing their gold holdings instead of reducing.

On Wednesday, Finland's first floating LNG terminal arrived at the southern port of Inkoo. In this way, the Scandinavian country will be able to substitute Russian gas supplies.

Dmitry Peskov said that it was Russia’s sovereign right to respond to the oil price cap imposed by the G7 countries. According to the Kremlin spokesman, Russia didn’t discuss its oil cap response with OPEC+.

The latest forecast by the U.S. Energy Information Administration (EIA) shows that in 2022 the spot price of Henry Hub gas will average $6.48

Next year, gasoline prices will likely be much lower. However, on average in the country, they still can exceed the $4 per gallon level.

Recently, PJSC Gazprom held a pre-New Year's conference call on the company's preliminary results for the current year. Chairman of Gazprom's Management Committee Alexey Miller stated that global gas demand has declined by 65 billion cubic meters in 2022.

Last week, the Strategic Petroleum Reserve (SPR) reached its low since 1983. According to federal data published on Wednesday, the drop is due to rising gasoline and oil prices in the United States.

EQT is the largest gas producer in the United States. According to the report, its output dropped by 30% due to the recent low temperatures. The main problem was that the frost hindered the normal functioning of the company's wells located in the Appalachian basin.

Russia's response to the G7 price cap on oil corresponded to the promises previously voiced by state representatives, without having a major impact on global fuel supplies. But the country leaves open for a more decisive move to the EU-imposed price threshold for raw materials.

Finance Minister Anton Siluanov said that Russia would only sell oil at market price to those countries that opposed the price cap.