S&P 500   4,023.89
DOW   32,196.66
QQQ   301.94
S&P 500   4,023.89
DOW   32,196.66
QQQ   301.94
S&P 500   4,023.89
DOW   32,196.66
QQQ   301.94
S&P 500   4,023.89
DOW   32,196.66
QQQ   301.94

Russian pipeline sanctions raise fears of gas interruption

Friday, May 13, 2022 | The Associated Press


A worker sits on his water tank truck next to the business tower Lakhta Centre, the headquarters of Russian gas monopoly Gazprom in St. Petersburg, Russia, Wednesday, April 27, 2022. European gas prices have risen Friday, May 13, 2022 after Russian state-owned exporter Gazprom said it would no longer send supplies to Europe via a pipeline in Poland, citing new sanctions that Moscow imposed on European energy companies. (AP Photo/Dmitri Lovetsky, File)

BERLIN (AP) — Natural gas prices rose Friday after Russian state-owned exporter Gazprom said it would no longer send supplies to Europe via a pipeline in Poland, citing new sanctions that Moscow imposed on European energy companies. The move doesn't immediately block large amounts of natural gas to Europe but intensifies fears that the war in Ukraine will lead to wide-ranging cutoffs.

Gazprom said Thursday that it would ban the use of the Yamal pipeline that reaches Germany through Poland. While that cuts off a supply route to Europe, the pipeline's entry point to Germany has not been used in recent months. Plus, Gazprom has already cut off gas to Poland for refusing to meet Moscow's demand to make payments in rubles.

“A ban is in place on making transactions with and payments to persons under sanctions. In particular, for Gazprom, this means a ban on the use of a gas pipeline owned by (the Polish company) EuRoPol GAZ to transport Russian gas through Poland,” Gazprom representative Sergey Kupriyanov wrote in a Telegram post.

The fear is that gas disputes and cutoffs will keep escalating amid the war in Ukraine. Last month, Gazprom said it had completely cut off natural gas supplies to Poland and Bulgaria over the rubles dispute.

On Tuesday, Ukraine's pipeline operator shut down a pipeline that carries gas from Russia to Europe, saying Russian forces were interfering with a compressor station in Russian-held territory and diverting gas. It asked Gazprom to move gas through another pipeline, which the company said it could not do. By itself, the shutdown was not expected to cut off major amounts of gas.

Energy tensions ramped up when Russia imposed sanctions Wednesday on Gazprom Germania, a subsidiary of the Russian supplier that the German government took control of in April.

German Vice Chancellor Robert Habeck said the loss of gas from the Russian moves was “manageable” at around 10 million cubic meters per day and could be made up from other sources.


The actions further roiled volatile energy markets. Natural gas traded Friday at 104 euros per megawatt hour, up from 94 euros before the announcements.

“Moscow has fired a second volley of gas disruption at Europe, causing fresh uncertainty and spiking prices,” said Kaushal Ramesh, senior analyst at Rystad Energy.

European utilities and governments have scrambled to refill underground gas storage that was depleted over the winter and have made enough progress to cover gas needs for the year without Russian supplies. But they would face difficulty in getting through the end of the upcoming winter without rationing. High natural gas prices have led to higher bills for home heating and electricity generated by the fuel.

European governments are trying to get off Russian energy and the EU's executive commission has proposed measures to reduce imports from Russia by two-thirds by year end. It remains to be seen if that can be achieved.

Before the war, Europe got 40% of its natural gas and 25% of its oil from Russia.


7 Great Biotech Stocks to Buy in Expectations of Better Days Ahead

The biotechnology (biotech) sector was one of the best performing sectors in 2020. Many companies saw their stock prices rise as the race was on for a Covid-19 vaccine.

However, many of these companies were pre-revenue companies. Or they were companies that only had one or two in-market products or therapies. And as the calendar turned to 2021, investors took notice. And what went up quickly went down. And in the case of the biotech sector, it came down hard.

One way to tell is to look at biotech ETFs. One of the most popular ETFs, the VanEck Vectors Biotech ETF (NYSEARCA:BBH) is down more than 15%. So you can imagine what it’s been like for many individual biotech stocks. If you’re a buy-and-hold investor, you’re licking some wounds right about now.

But investors who knew what companies to buy have done well. And many of those names will continue to lead the biotech sector in 2022. In this special presentation, we give investors seven biotech stocks that represent different aspects of this diverse sector. We’re confident there’s something for investors of all risk tolerances.

View the "7 Great Biotech Stocks to Buy in Expectations of Better Days Ahead".


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.