Latest from Jay Siebold

• Mar 9, 2022

  Where does OPEC stand in this global game of oil?

  

  The oil-producing cartel known as OPEC has been somewhat absent in the oil discussion as countries have imposed bans and sanctions on Russia over the former’s invasion of Ukraine. It makes the global oil picture a little murkier, but here to clear up some of it is Fernando Valle, senior energy analyst at Bloomberg. In terms of oil supply, help for the U.S. could come from a geopolitically surprising source: Venezuela. The BBC reports on the global food impact of the Russia-Ukraine war, as both produce a massive percentage of the world’s wheat.

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• Mar 9, 2022

  Deal reached to fund federal government, help Ukraine

  

  Congressional leaders have struck a deal on legislation that will fund the federal government this year, along with providing billions in aid to Ukraine. Both houses of Congress are expected to vote on it this week. After President Biden announced a ban on Russian oil imports Tuesday, crude prices shot up, and Russia is having problems finding buyers. A law that would bestow independent contractor status on ride-hailing service drivers in Washington state in under consideration.

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• Mar 9, 2022

  Russia further insulates itself from the West

  

  From the BBC World Service: More Western firms, including McDonald’s, are pulling out of Russia as Moscow brings in new restrictions to try and counteract sanctions previously imposed. Two U.S. executives have been released from Venezuelan custody as the Biden administration looks to improve U.S. relations with the country. Plus, we hear about the potential impact of Russia’s invasion of Ukraine on global food supplies.

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• Mar 8, 2022

  U.S. set to ban Russian oil imports

  

  The U.S. will ban imports of Russian oil, according to the White House. Jeffery Cleveland discusses this news with us, and what it could mean for market activity going forward. From our BBC colleagues, we learn that the price of nickel, which is used in rechargeable batteries and stainless steel, spiked 250% in the past two days. That forced a shutdown of trading at the London Metal Exchange. We have a tale of entrepreneurship out of Maine, where a new avenue for Muslim fashion has emerged.

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• Mar 8, 2022

  High oil prices and recession have a history together

  

  Oil prices are at their highest point since 2008, with the national average of gas topping out at more than $4 per gallon. Historically, big spikes in oil prices have been the appetizer for a recession. We start in the 1970s for our look at the historic link between the two. President Biden will reportedly sign an executive order this week to direct federal agencies to figure out how to regulate cryptocurrencies. With Visa and MasterCard about to nullify operations in Russia, what are Russian banks and cardholders in and out of the country to do? 

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• Mar 8, 2022

  Nickel trading halted on the London Metal Exchange

  

  From the BBC World Service: Following a 250% price surge over two days, trade was halted in nickel on the London Metal Exchange. We hear how the European Union plans to wean itself off Russian oil and gas. Plus the World Bank is making a package of emergency loans and grants available to Ukraine.

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• Mar 7, 2022

  It’s not a good time to be short on cybersecurity personnel

  

  Good news or bad news first? Cybersecurity watchers around the world have been on high alert as the war in Ukraine continues to escalate, and there’s plenty of concern about Russian cyberattacks as the conflict continues. The good news is that the U.S. added 250,000 cybersecurity jobs between 2020 and 2021. The bad news: There’s about 500,000 more open spots to fill. Julia Coronado helps us look through market activity that signals that the markets are indeed working, despite the war in Ukraine. Many companies are cutting or suspending ties with Russia over the invasion.

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• Mar 7, 2022

  Oil prices soar, stock markets fall with talk of Russian crude-oil export ban

  

  From the BBC World Service: U.S. Secretary of State Antony Blinken has confirmed America and its allies are considering further sanctions against Russia, including a potential ban on the country’s crude-oil exports. Plus, one of the world’s biggest fertilizer makers warns the conflict could deliver a shock to food supplies. And we hear from a community center in western Ukraine where volunteers are working around the clock to distribute vital supplies.

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• Mar 7, 2022

  How NFTs have altered the art world

  

  A year ago this week, a JPEG file containing a collage of digital illustrations by the artist known as Beeple sold for $69.3 million at an art auction. It was a record-setting sale, and it’s added fuel to the hype train surrounding NFTs. We spoke to art critic Blake Gopnik about what’s changed for artists and the art world – if anything – since the sale. Western countries are thinking about a Russian oil ban, something they hoped to avoid in the past.

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• Mar 4, 2022

  Examining the grasp “dark money” has around U.S. politics

  

  Marketplace’s Kimberly Adams talks to us about how dark money operates at the federal, state and local levels, and whether there are any signs the rules around it could change in the future. We hear from Ukraine’s finance minister as the world’s markets react to what’s happening there. Christopher Low adds more market insight.

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