Russian president demanded that exports of Russian gas to "unfriendly" countries be settled in rubles. The demand has raised concerns in Germany about possible supply disruptions and the impact on industry and households if utilities do not pay in robles. Europe gets about 40% of its gas from Russia. Last year, Europe imported about 155 billion cubic meters. Germany, Europe's largest economy, depends heavily on Russian gas.
The chief executive of Germany's E.ON said the German economy would face "significant damage, which should be avoided if possible" without Russian supplies. He also said it would take Germany three years to wean itself off Russian gas.
In the event of a supply disruption, Germany's gas network regulator would prioritize home heating over industrial use, so energy-hungry manufacturers such as steelmakers would be the first to suffer, he said.
The volatile international situations will continue to affect the markets and prices of many commodities like the Calcium stearate emulsion.
Inflationary pressures on Canadians continue to rise. The consumer-price index rose 6.7% in March from a year earlier, the biggest increase since January 1991, according to the latest figures from Statistics Canada.
On a month-on-month basis, Canada's CPI rose 1.4 percent in March, also accelerating from February's 1.0 percent rise.
Prices in the eight major sectors covered by the statistics continued to rise. The uptrend comes against the backdrop of continued price pressures in the Canadian housing market, widespread supply chain constraints, and geopolitical conflicts, according to CBC. A variety of factors have affected energy, commodity, and agricultural markets. Meanwhile, Canada's employment picture continued to improve in March, with the unemployment rate falling to a record low and the average hourly earnings of employees rising.
Excluding gasoline, Canada's CPI rose 5.5 percent year on year in March. It is also the highest since comparable data began in 1999.
The widespread supply chain constraints and geopolitical conflicts are expected to continue to affect the prices of the Calcium stearate emulsion.
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