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for US$53 billion, a deal aimed at boosting production growth as the United States oil industry bets on an enduring future for fossil fuels.
“The prize here is Guyana,” said Peter McNally, an analyst at Third Bridge Group. “And it’s only got bigger” since oil was first discovered in the country less than a decade ago, he said.for US$58 billion, underpinning a bet that oil and gas will remain central to the world’s energy mix for decades to come.
Stocks staged a broad retreat after the 10-year Treasury yield topped five per cent, fuelling concern that soaring borrowing costs will erode economic growth. “Five per cent is purely a psychological level,” said Peter Chatwell, head of global macro strategies trading at Mizuho International. “All moves higher in yield pose the same difficulties for the markets — a higher ‘risk-free’ rate will encourage investors to reduce riskier asset holdings like equities, credit and emerging market assets, and allocate more into Treasuries.”A price cap on Russian oil aims to starve Putin of cash. But it's largely been untested.
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