Oil prices plunged to multi-year lows on Monday as tensions between Russia and Saudi Arabia escalate, sparking fears on the Street that an all-out price war is imminent. The sell-off in crude began last week when OPEC failed to strike a deal with its allies, led by Russia, about oil production cuts. That, in turn, caused Saudi Arabia to slash its oil prices as it reportedly looks to ramp up production U.S. West Texas Intermediate crude and international benchmark Brent crude posted their worst day since 1991. Source CNBC
The Chancellor stressed that Germany had always advocated for Ukraine to remain a transit country in the export of gas from Russia to the European Union Source Tass
China’s economy grew by double digits in the latest quarter but an explosive rebound from the coronavirus pandemic is slowing abruptly as manufacturing and consumer spending return to normal. Source AP
It finally happened, that glorious moment, when, after teetering on the verge for weeks – for reasons we’ll get into shortly – the incredibly spiking US gross national debt, after kissing the line a couple of times for a moment, finally, and suddenly by a big leap, jumped over the $28-trillion mark, with a $143-billion leap in one day on Wednesday, March 31, following some big Treasury sales. Source Wolfstreet
