- After the Kremlin hinted at progress in peace negotiations with Ukraine, US futures and European equities extended gains on Wednesday, adding to the upbeat attitude sparked by China's pledge to calm its damaged markets. Treasury yields remained unchanged, as the dollar fell ahead of the Federal Reserve's rate announcement.
- A proposal by Ukraine to become a neutral nation while maintaining its own military forces "might be considered as a certain form of compromise," Kremlin spokesperson Dmitry Peskov said on Wednesday, fuelling hopes for a diplomatic settlement. China has previously pledged initiatives to stimulate economic development and financial markets, which had been roiled by fear that Beijing's connections with Russia may lead to a US reprisal.
- Contracts on the tech-heavy Nasdaq 100 increased by 1.8%, while those on the S&P 500 increased by 1%. The Stoxx Europe 600 index increased by as much as 2.6 percent, with technology stocks leading the way. A gauge tracking mainland businesses listed in Hong Kong registered the greatest rise since the global financial crisis, while a Chinese tech index climbed a record 20%.
- The Kremlin is debating a neutrality model for Ukraine based on Austria and Sweden.
- Kremlin: A neutral Ukraine with its own army is a possible compromise option.
- IEA reduces its growth forecast for 2022 by 950,000 BPD to 2.1 million BPD, resulting in an average of 99.7 million BPD.
- IEA reduces its world oil demand forecast for Q2-Q4 2022 by 1.3 million BPD.
- IEA sees Russian oil output slumping by a quarter next month.
- Russian Foreign Minister Lavrov: Some formulations of the agreements with Ukraine are close to being completed.
- Russian Foreign Minister Lavrov: Peace negotiations with Ukraine aren't easy, but there is hope for compromise.
