Stephen Fidler at the Wall Street Journal has an interesting piece running today about the annual winter pipeline politics (though the sensible agreement yesterday in Yalta may diminish a lot of fears).  There are some interesting facts and numbers in the piece - for example the estimate that Gazprom's contract prices are sitting around $10 per million BTU, while LNG can be had on the spot market for $4 per million BTU.  In a refreshing change of pace, we see Fidler point more of the blame at the national champions E.ON and ENI if by chance Eastern European households go cold this winter.  From a business perspective, a supply cut-off would really hurt Gazprom and benefit the state-corporate avarice of Western Europe (who have the ability to import from alternative sources).Either way, things are looking bad for everybody ...

Russia is planning to contribute $6.5 million to the IAEA Nuclear Security Fund in 2010-2015, the fund which supports, among others things, the use of nuclear security measures to counter nuclear terrorism.  Satellite photos apparently suggest that Iran has increased production at a uranium mine, emphasizing the necessity of broader UN inspections.  Russia is showing no hesitation regarding the Bushehr nuclear plant in Iran, according to Iranian Ambassador to Moscow Seyed Mahmoud Reza Sajjadi.  Siberia-oriented oil group Exillon Energy is hoping to become the first major Russian company to list on the London Stock Exchange in the 18 months since the financial crisis paralyzed the stock market - envisaging an IPO of $500 million.  Russian state oil company Zarubezhneft has come to a deal with Cuba Petroleos to explore the island's northern coast - a sign of ...

strongGuardian Unlimited /strongbr /br /strongJason Corcoran:/strong emRather than reversing Putin's policies, Medvedev has only hinted at reform. Time will tell if he can step out of the shadows/embr /br /Dmitry Medvedev was destined to be a lame duck leader when he was elected Russia's third president a year ago. His inauguration ushered in a ruling tandem with his mentor and predecessor Vladimir Putin seemingly shifting a gear to become prime minister. Putin, however, has so far done all of the steering while Medvedev has been along for the ride.br /br /Russians have not been duped, judging by the latest opinion poll by the respected Levada Centre, which indicate only 12% believe Medvedev wields real power. Another 34% believe it lies with Putin, while 50% believe it is shared between them.br /br /Buoyed by rising commodity prices, Putin's eight-year reign restored Russia's shattered economy, raised living standards for many and re-established ...

February U.S. crude futures contract expires on Tuesday… Cold weather hits U.S. Northeast… OPEC says enforcing production cuts… Russia and Ukraine reach deal in gas dispute…

Oil jumped more than 3 percent on Tuesday as winter weather blasted the United States amid signs OPEC has tightened supplies.

Further support came as the U.S. February crude contract headed for expiry at the end of the trading session.

U.S. February crude rose $1.25 to $37.76 a barrel by 12:52 EST (1752 GMT), while March crude fell 76 cents to $41.81 a barrel. London Brent gained 34 cents to trade at $44.84 a barrel.

“There’s a short-squeeze play going on ahead of February crude’s expiration, as there are still some traders heavy with shorts on this last trading day for the contract,” said Phil Flynn, analyst, Alaron Trading, Chicago.

“The market is also filling the gap

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Ghosts of the fourth quarter haunt global financials… so begins the second act of the credit saga… Even the IMF needs a loan… $150 billion to back up struggling emerging markets… Not so fast, says Mayer… emerging markets will remain drivers of global growth… Jim Nelson with an industry likely to boom in 2009… Wayne Burritt’s short-term trading advice… with S&P 500 price targets… Plus, Russia-Ukraine gas dispute not yet over… a reader provides firsthand account.

And… action.

Fourth-quarter earnings season is in full swing. Many investors seem to have forgotten over the past few weeks, but American financials still look… umn, bad. Here’s the quick and dirty:

Citigroup, once the world’s second

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Mortgage rates plunge to record lows… but are they at the bottom?… Overlooked details from Friday’s jobs news… troubling signs from retail and energy sectors… Rob Parenteau charts a different way to view the S&P… could the worst be over?… Russia/Ukraine gas conflict ends… who “won” the latest resource skirmish… Bill Gross’ sad-but-true guide to 2009… how to invest amid rife market manipulation.

If you’ve got money, credit and patience, today is your cheapest opportunity buy or refinance a house in at least 38 years.

The 30-year fixed-rate mortgage carries a rate of 5.01% this morning, the lowest rate of its kind since at least 1971, when Freddie Mac started keeping track. Since the peak of the credit crisis in late October, the 30-year mortgage has plunged almost 1½ percentage points, even past its 5.8% average this time last

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Debt prices plummet, dollar gains… U.S. stocks fall on profit-taking but rise in Europe…  Dollar at 3-week high vs euro on hopes for stimulus plan… Oil gains as Gaza fighting raises Mideast supply worries.

News about a planned U.S. stimulus package helped pull investors into the dollar on Monday but U.S. Treasury prices slumped on fears a price bubble is about to pop in the face of a massive wave of fresh debt.

European equities advanced for the fifth session in a row, spurred by gains in shares of oil companies on the back of rising crude prices. U.S. stocks were mostly lower as investors took profits on the rally that was racked up in thin trading last week.

Oil prices hit a three-week high as Israel’s deepening incursion into Gaza and a Russian gas dispute heightened fears about supplies.

Prospects for a swelling supply of government debt

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