Bp Stock News

President Joe Biden announced Tuesday morning that the U.S. would ban imports of Russian oil, calling it “the main artery of Russia’s economy” and saying, “The American people will deal another powerful blow to Putin’s war machine.” Biden emphasized that he has made the move in consultation with allies in Europe, though they are unlikely to make the same move given much greater dependence on Russia as an energy source. The move, part of a larger package of sanctions in response to Russia’s invasion of Ukraine, both increases financial pressure on Russia and will increase gas prices in the United States, where gas prices had already been a subject of significant stress. In the first waves of sanctions imposed on Russia, Biden had exempted fuel in an attempt to keep gas prices from going up further, but there’s been bipartisan energy from Congress to cut off Russian energy imports. Biden noted that in his announcement, saying, “This is a move that has strong bipartisan support in the Congress and I believe in the country.

Higher prices could mean more profits for investors.

Watch Video President Joe Biden has decided to ban Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, according to a person familiar with the matter. SEE MORE: Russian Invasion Reorders West''s Calculations On Cost Of War The move follows pleas by Ukrainian President Volodymyr Zelenskyy to U.S. and Western officials to cut off the imports, which had been a glaring omission in the massive sanctions put in place on Russia over the invasion. Energy exports have kept a steady influx of cash flowing to Russia despite otherwise severe restrictions on its financial sector. President Biden was set to announce the move as soon as Tuesday, the person said, speaking on condition of anonymity to discuss the matter before his remarks. The White House said the president would announce “actions to continue to hold Russia accountable for its unprovoked and unjustified war on Ukraine.” The U.S. will be acting alone, but in close consultation with European allies, who are more dependent on Russian energy supplies.

Upgrades According to Janney Montgomery Scott, the prior rating for Wintrust Financial Corp (NASDAQ: WTFC ) was changed from Neutral to Buy. Wintrust Finl earned $1.58 in the fourth quarter, compared to $1.63 in the year-ago quarter. The stock has a 52-week-high of $105.56 and a 52-week-low of $65.66. At the end of the last trading period, Wintrust Finl closed at $87.30. B of A Securities upgraded the previous rating for Delek US Holdings Inc (NYSE: DK ) from Underperform to Neutral. In the fourth quarter, Delek US Hldgs showed an EPS of $0.61, compared to $2.77 from the year-ago quarter. At the moment, the stock has a 52-week-high of $26.21 and a 52-week-low of $13.48. Delek US Hldgs closed at $18.00 at the end of the last trading period. B of A Securities upgraded the previous rating for PBF Energy Inc (NYSE: PBF ) from Neutral to Buy. For the fourth quarter, PBF Energy had an EPS of $1.28, compared to year-ago quarter EPS of $4.53. The current stock performance of PBF Energy shows a 52-week-high of $21.32 and a 52-week-low of $7.24.

BP PLC (NYSE: BP) and Shell PLC (NYSE: SHEL), are trading higher Tuesday amid continued strength in oil prices in the wake of Russia's invasion of Ukraine.  The United States and its European alli

The energy giant joins a raft of other corporations, including BP, to exit from Russia over Moscow’s invasion of Ukraine. Shell has apologised for buying Russian crude oil last week and said it would withdraw completely from any involvement in Russian hydrocarbons over the country’s invasion of Ukraine. “We are acutely aware that our decision …

BP has announced its intention to stop concluding new deals to buy oil and gas from Russia, Report informs, citing TASS that a company representative told Bloomberg in a comment.

Earlier, Shell said earlier it intends to phase out the use of Russian oil and gas

A growing number of Western businesses are either halting operations in Russia or exiting altogether over that country’s military incursion of neighboring Ukraine. The major hit to Russia’s economy will likely come from the crucial oil and gas industry. British-based BP announced Sunday that it is divesting its $14 billion stake in Russian state-owned oil and gas company Rosneft. Meanwhile, Chief Executive Officer Ben van Beurden of Britain-based Shell Oil Company issued an apology Tuesday for buying Russian crude oil last week, and said it would end all of its operations in Russia, including pipeline gas and liquid natural gas. Shell previously announced it was abandoning its joint venture with state-owned Gazprom and the now-suspended Nord Stream 2 pipeline, built to carry natural gas from Russia to western Europe. Japanese automakers Toyota and Nissan have announced plans to suspend production at their plants in the western port city of St. Petersburg and end all vehicle exports to Russia.

BP (BP) closed the most recent trading day at $28.50, moving +1.75% from the previous trading session.

CEOs of energy companies with projects in Russia are facing career-defining leadership moments. What do you do when your corporate investments nearly overnight become politically, economically and socially untenable to your key stakeholders? Within days of Russia’s unprovoked invasion of Ukraine, BP’s Chief Executive Bernard Looney was quick out of the gate to tell the world […] The post Leading an Energy Company in the Aftermath of Russia’s Attack on Ukraine appeared first on POWER Magazine .

This article is excerpted from Tom Yeung's Moonshot Investor newsletter. To make sure you don't miss any of Tom's potential 100x picks, subscribe to his mailing list here.

Wall Street Is Quietly Trading For The Return Of Russia, Sparking Liz Warren''s Outrage For holders of Russian equities, the past week has been nothing short of a surreal, modern-day version of Dante''s 10th circle of hell, where in the span of just a few days virtually all Russian stocks have seen their value wiped out as a result of a barrage of western sanctions that have disconnected Russian equities from global capital markets and money flows, nowhere more visibly than in the stock of Russian Novatek PJSC, Russia''s second-largest natural gas producer and the world''s seventh-largest publicly traded company by natural gas production volume, which collapsed from $215 on Feb 16, to 65 cents a few days later. The carnage has been unprecedented, and not just at Novetek - the most widely-held Russian stock among ETFs and other international investors - but across the equity spectrum where adding insult to injury, investors have been blocked from selling their holdings as stocks plunged and fortunes were wiped out overnight.