Russia-Ukraine crisis sends oil on roller coaster  

  Oil prices briefly touched $95 a barrel on Wednesday before backing away as investors try to
  make sense of the latest developments in the Russia-Ukraine crisis. 

  US crude jumped as much as 3.2% to an intraday peak of $95.01 a barrel as US and NATO
  officials said they saw no sign of de-escalation on the ground in the Russia-Ukraine standoff. 

  But by the end of the day, crude settled at $93.66, up 1.7%. And in extended trading oil turned
  negative. 

  The turbulent trading comes after oil prices fell sharply Tuesday after Russian announced it is
  withdrawing some troops following the completion of recent drills near Ukraine. 

  Investors have been very sensitive to the risk that an invasion of Ukraine would disrupt Russia's
  vast energy supplies at a time when global supply is already failing to keep up with demand. 

  "People came to their senses. They hoped for the best but there is no proof on the ground that
  pulling back is a reality," said Robert Yawger, vice president of energy futures at Mizuho
  Securities. 

  US oil hit a seven-year high of $95.82 a barrel on Monday on Russia-Ukraine fears. Brent crude,
  the world benchmark, gained 1.6% to close at $94.81 a barrel. 

  President Joe Biden expressed skepticism on Tuesday about Russia's claims of removing troops.
  Similarly, NATO Secretary General Jens Stoltenberg said Wednesday that despite "signs from
  Moscow" that diplomacy should continue, "we do not see any sign of de-escalation on the
  ground." 

  Yawger said those comments from Biden and NATO are renewing concern in the market about a
  conflict. 

  "Investors justifiably believe the president of the largest democracy on the planet and the largest
  military alliance in the world, instead of the president of a dictatorship," Yawger said. 

  Natural gas is also rising sharply, with futures jumping 8% to $4.66 per million BTU. 

  Source: CNN  
 

  Indonesia urges G20 collaboration as Ukraine crisis
 overshadows meeting  

  The crisis in Ukraine overshadowed a gathering of finance leaders from the world's top 20
  economies that kicked off on Thursday, with host Indonesia's president warning "now is not the
  time" to create new risks to a fragile global recovery. 

  Russia's military presence on its borders with Ukraine has led to one of the deepest crises in
  East-West relations for decades, jolting financial markets and adding to the headwinds facing a
  global economy emerging from the COVID-19 pandemic. 

  Geopolitical risks and the economic fallout from the pandemic will likely be among key topics of
  debate at the G20 finance leaders' meeting, as well as rising global inflation and tighter monetary
  policy in some regions. 

  Indonesia's President Joko Widodo urged G20 nations to focus on collaboration to revive a global
  economy that is "still shaken" from the pandemic. 

  "In a situation like now, it is not the time for rivalry," he said in opening remarks at the G20
  meeting, which many ministers are attending online due to the pandemic. 

  "It is not the time to create a new tension that disrupts the global recovery, especially one that 
  endangers the safety of the world like what is happening in Ukraine now." 

  Analysts, however, warn the diverse membership of the G20, consisting of the United States and
  its allies but also rivals China and Russia, may make policy coordination hard. 

  Full article from Reuters  

  Trade Surplus in February 2022 crosses US$3.83 billion 

  Indonesia posts another trade surplus on February 2022 of US$3.38 billion, an increase of $930
  million compared to January. Export in February 2022 reached $20.46 billion while imports were
  $16.64 billion, according to data from the Indonesian Central Statistics Agency (BPS). 

  The surplus in February continues the country’s streak of trade surpluses for the 22nd straight
  consecutive months. The rise in commodity prices such as coal, tin and nickel continue to
  contribute the highest to Indonesia’s trade balance. 

  “The price increase for commodities has of course had a major effect on our exports,” said BPS
  Chief Margo Yuwono, adding that export value rose 6.7% on February 2022 compared to the
  previous month, or a 34.14% increase compared to the same month last year. “The export
  condition on January 2022 and February 2022 was better comapred to the previous year,” he
  said.  

  On annual terms, the surplus was driven by exports from the non-oil and gas sector, which saw
  a 35.24% increase. Meanwhile, the oil-and-gas sector saw a 15.60% increase. 

  According to data from the BPS, the price of Indonesian crude oil has risen to $95.72 from $85.89
  per barrel as of February 2022 – an 11.44% increase month-to-month or a 58.58% increase year-
  on-year. Meanwhile, coal saw a 16.5% increase month-to-month. CPO saw a 13.20% increase
  month-to-month. 

  Based on sectors, the BPS recorded significant positive growth from mining, which saw a 65.62%
  mtm or 84.61% yoy due to the high increase in coal mining exports of 74.52%, and copper of
  319.95%. 

  Meanwhile, import numbers for February 2022 of $16,64 billion was a 8.64 decline compared to
  the previous month. However, it was still a 25.34%% increase compared to the same month of
  last year. 

  Imports from the oil-and-gas sector reached $2.90 billion, a 30.19% increase compared to
  January 2022 or 122.52% increase compared to compared to February 2021. 

  Meanwhile, imports from the non-oil-and-gas sector reached $13.74 billion, a decline of 14.05%
  mtm or a 14.84% increase yoy. 

  Source: Bisnis