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Ukrainian President Zelensky: Discussed further opportunities in the field of satellite communications with the Finnish side.On October 23, Iranian Parliament Speaker Mohammad Ghalibaf stated on the 22nd that the United States is making a grave mistake if it believes that war with Iran would be advantageous to it. He explained that this choice would bring many "bitter consequences" to the US, including stock market crashes, fighter jet crashes, increased debt, rampant inflation, and troop casualties, all of which would impact American society. He said, "You dont have to take this path, but if you choose it, you must bear all the consequences."On October 23, Jeff Sherman, Deputy Chief Investment Officer of DoubleLine Capital, stated that large-scale government borrowing and weakening demand will continue to put pressure on long-term US Treasuries. Although US Treasuries rebounded on Thursday due to concerns about artificial intelligence trading and turmoil in the French market driving safe-haven demand, he believes this is merely a rebound after an oversold condition and does not change the fundamental pressures facing long-term bonds. Sherman stated that DoubleLine Capital continues to significantly underweight long-term US Treasuries in most of its portfolios, with some portfolios even shorting the long end of the yield curve. He also criticized US Treasury Secretary Bessants attempts to suppress US Treasury yields, saying that Bessant used strong language to communicate with the market, but the market reaction was not positive. He believes that if the government wants to attract investors, it should enhance investor confidence rather than blaming critics.According to Politico: Two sources familiar with the matter said the U.S. is again pressuring the EU to ease rules for large technology companies.The Federal Reserve accepted a total of $351 million from two counterparties in its fixed-rate reverse repurchase operations.

As oil prices rise, Suncor Energy's quarterly earnings treble

Charlie Brooks

Aug 05, 2022 10:45

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Earnings for the second quarter of Suncor Energy Inc. surged by more than fourfold on Thursday, as the third-largest crude oil producer in Canada benefited from a jump in commodity prices.


Sanctions on Russia, a major oil producer, have compounded supply problems, resulting in an almost 48 percent spike in global crude prices in the first half of the year as energy companies have struggled to boost output to meet rising fuel demand.


Suncor said that its total upstream production increased from 699,700 barrels of oil equivalent per day (boepd) to 720,200 boepd.


The company's refinery crude throughput climbed by around 20 percent to 389,300 barrels per day, while refinery utilization rose from 70 percent in the third quarter of the previous year to 84 percent in the current quarter.


The company's net income for the three-month period ended on June 30 was C$3.996 billion ($3.11 billion), or C$2.84 per share, compared to C$868 million or 58 Canadian cents a year earlier.

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