Notizia

Japan, which counts Russia as its fifth-biggest supplier of crude oil, is in discussion with the United States and European countries about possibly banning Russian oil imports, Kyodo News reported on Monday.

BEIJING (Reuters) -China's export growth slowed in the January-February period due to the week-long Lunar New Year holiday and though the data beat expectations, Russia's invasion of Ukraine has heightened uncertainty over the outlook for global trade this year.

U.S. shale oil and gas producers Oasis Petroleum Inc and Whiting Petroleum Corp are close to agreeing an all-stock merger that could be announced as soon as this week, a source familiar with the matter said on Sunday.

Oil prices soared and shares sank in frantic trading on Monday as the risk of a U.S. and European ban on Russian product and delays in Iranian talks triggered what was shaping up as a major stagflationary shock for world markets.

The price of oil has surged to its highest level since 2008 after Russia's invasion of Ukraine, adding to airline costs at a time when carriers have been struggling to recover from a pandemic-related dip in demand.

China's export growth slowed in the January-February period due to the week-long Lunar New Year holiday and though the data beat expectations Russia's invasion of Ukraine has heightened uncertainty over the outlook for global trade this year.

Oil prices soared and shares sank in hectic trading on Monday as the risk of a U.S. and European ban on Russian product and delays in Iranian talks triggered what was shaping up as a major stagflationary shock for world markets.

U.S. House of Representatives Speaker Nancy Pelosi on Sunday said the chamber is "exploring" legislation to ban import of Russian oil and that Congress intends to enact this week $10 billion in aid for Ukraine in response to Russia's military invasion of its neighbor.

The euro tumbled to a fresh 22-month low on the dollar and hit multi-year troughs on the yen, Swiss franc and sterling as war in Ukraine drove up commodity prices and stoked fears of a stagflationary shock that would hurt Europe most of all.