Mixed oil trading and Elon Musk buys a new stake in Twitter


Mixed oil trading and Elon Musk buys a new stake in Twitter Oil prices change slightly and in different directions on Wednesday morning trading
after a moderate decline the previous day

Evest follows market developments in the following report



The Oil is traded without a clear trend

Elon Musk buys a new major stake in Twitter stocks

New sanctions against Russia from the United States and Canada

The decline in Wall Street after statements from the Federal Reserve

The Oil is traded without a clear trend

Traders are waiting for official data on US fuel inventories and assessing the balance of supply and demand on the world market

The June futures cost for Brent crude on the London Stock Exchange ICE Futures on Wednesday is $106.89 per barrel,
which is $ 025 (0.23%) higher than the closing price of the previous session
As a result of Tuesday’s trading, these futures declined by $0.89 to $106.64 per barrel

The price of West Texas Intermediate oil futures for May in electronic trading on the New York Mercantile Exchange (NYMEX) is $101.9 per barrel,
$0.06 (0.06%) lower than the final value of the previous session

On Tuesday

the cost of these futures declined by $1.32 to $101.96 per barrel

As data released by the American Petroleum Institute (API) at the night show
US oil inventories rose for the week ending April 1 by 1.1 million barrels
Analysts surveyed by Trading Economics predicted an average decline of 2.06 million barrels

Official data from the Energy Information Department of the U.S. Department of Energy will be released later in the day
Experts surveyed by S&P Global Commodity Insights predicted that the DOE report would indicate oil inventories
fell by 1.85 million barrels
Analysts also expect gasoline reserves to fall by 350 thousand barrels of distillates – by 700 thousand barrels

In the meantime, the President of the European Commission
Ursula von der Leyen announced on the eve of proposals for new sanctions against the Russian Federation
In particular, the EU may impose a complete embargo on transactions with four major Russian banks including VTB,
and a ban on coal imports from Russia of €4 billion per year

To date, the restrictive actions do not apply to oil and gas,
which has eased concern about the worsening energy shortages in world markets

article name Mixed oil trading and Elon Musk buys a new stake in Twitter


Elon Musk buys a new major stake in Twitter stocks

The US billionaire Elon Musk spent $2.64 billion buying stakes in Twitter, according to the US Securities and Exchange Commission (SEC) on Tuesday evening

Meanwhile, the billionaire submitted a new document in the form of 13d, which meant that the investor intended to play an active role in the company’s business
Musk was introduced on model 13G, in the previous document, submitted on Monday,
which included a passive stake in the company,
meaning that the investor did not intend to exercise control, as CNBC notes

As of April 5, Elon Musk owned 73.115 million stocks on Twitter or 9.1%
As of the close of trading in Twitter stocks on Tuesday, Musk’s stake is valued at $3.73 billion

Musk began buying shares from the end of January and made deals almost every day
The investor made the largest deal on February 7 – bought more than 4.8 million stocks worth $176 million, depending on the documents

One day before it was announced that Musk had joined the Twitter board
As long as he is a board member, his stake in the company cannot exceed 14.9%

Last week, Musk said on his Facebook account that he was not happy with the social network’s approach to freedom of expression and was “seriously considering” creating a new platform

article name Mixed oil trading and Elon Musk buys a new stake in Twitter


New sanctions against Russia from the United States and Canada

White House spokeswoman, Jennifer Psaki, said on Tuesday that US sanctions imposed by the US administration on Russia
over a special operation in Ukraine aimed at forcing Moscow to choose between defaulting and depleting its dollar reserves

She stressed that the United States will announce sanctions, including “an embargo on new investments in Russia
and new actions against financial institutions, government companies, government officials and their families
” Earlier, US media reported, citing sources, that Washington plans to announce such sanctions on Wednesday

On Tuesday, US media reported, citing informed sources
that the US administration is examining possible additional restrictions against a number of large Russian banks, including Sberbank

The Canadian Ministry of Foreign Affairs announced the expansion of sanctions against Russia
by including additional Russian representatives on the sanctions list
The new list includes entrepreneurs Vladimir Potanin, Viktor Vekselberg
Kirill Shamalov, Dmitry, Galina Pombyansky, Vadim Moshkovich, Leonid Mikhelson and Alexander Vinokurov Sanctions were also imposed on the Deputy Chief of General Staff of the Russian Armed Forces, Igor Kostyukov

AND The issue of Russian external public debt remains unclear

And The United States embargoed

the use of Russian “frozen” assets to serve Eurobonds bonds
The decision to be taken by the Russian authorities remains unclear This uncertainty also weighs heavily on markets

Against the backdrop of comments from representatives of the American regulator
investors recall the risks posed by tightening monetary policy in the United States
At the next meeting, the Federal Reserve may actually raise the interest rate by 50 basis points
and effectively begin reducing the accumulated balance under quantitative facilitation programs
These steps are aimed at combating high inflation

However, it would increase the cost of dollar financing and the outflow of liquidity, which would have a significant negative impact on the American and global economies


The decline in Wall Street after statements from the Federal Reserve

In the United States, stock indexes slumped 0.8-2.3% on Tuesday
led by Nasdaq because of Federal Reserve officials’ statements about the prospect of a more decisive tightening of monetary policy

The Fed may consider raising the prime rate by 50 basis points once at its May meeting according to the Federal Reserve Bank of Kansas President Esther George
who has a vote on the Federal Open Market Committee (FOMC) in 2022

Fed Board Member Lil Brainard announced the need to rein in inflation on Tuesday
To this end, the Fed will continue to “systematically tighten monetary policy through a series of rate
increases and may begin reducing the amount of assets in its balance sheet as early as the May meeting”, he said

article name Mixed oil trading and Elon Musk buys a new stake in Twitter