torsdag 23 april 2026
Economy
The value of the oil fund has plummeted by 1,270 billion
The Norwegian oil fund fell by almost 2 percent in the first quarter, corresponding to a total decrease in value of 1,270 billion Norwegian kroner. This is reported by Bloomberg. The return, excluding currency effects, was minus 636 billion.
– The result reflects a quarter with challenging market conditions, says Deputy CEO Trond Grande and continues:
– We saw limited impact on fixed income assets and real estate, but it was the decline in stocks, especially among large American technology companies, that determined the outcome.
The decline is the first in four quarters.
Trump's business
Crypto profile that bought taped banana sues Trump company
The Trump family's crypto venture World Liberty Financial has been sued by Justin Sun, one of the project's largest financiers, international media reports. Sun believes that the company illegally froze his assets and prevented sales via technical barriers.
World Liberty dismisses the criticism as “baseless accusations.” The announcement also causes Eric Trump to react strongly.
“The only thing more ridiculous than this lawsuit is spending $6 million on a banana taped to a wall,” writes Eric Trump, referring to Sun’s infamous art purchase.
Justin Sun is the founder of the cryptocurrency Tron.
Tesla’s future
Tesla’s profit better than expected – demand for cars increases
Tesla’s sales rose by 16 percent compared to the first quarter of last year, but still came in slightly below analysts’ expectations. Adjusted earnings per share increased by 51.8 percent, beating expectations. Behind the unexpectedly high profit is increased demand for the company’s electric cars, notes Bloomberg.
At the same time, Tesla writes that they “continued to make significant progress with the construction of the infrastructure and AI software” regarding robot taxis and future robotic operations.
According to Bloomberg, it was precisely signals about robotics and AI that investors were interested in, rather than the company's electric car business.
The stock initially rose 4 percent in after-hours trading, but turned down and closed slightly in the red after Elon Musk said that the company's capital spending is expected to increase to $25 billion this year.
Swedish arms exports
Peru looks to choose F-16: "Gotta respect that"
Peru has chosen Lockheed Martin and the F-16 over Saab and Gripen in its procurement of new combat planes. An agreement between the countries has been signed, according to a statement from the US embassy in Peru. A first payment has also been made, Reuters reports.
The procurement has been protracted and pointed in different directions.
– We are trying to find out what happened, says Saab CEO Micael Johansson to TT and continues:
– I can actually only observe what the media writes here and if it is the case that Peru has now moved forward with the F-16, we must respect that, of course, but we still think that we had the absolute best offer.
Middle East Crisis Economic Impact
IEA Warns of Historic Threat to Energy Security
The war in Iran could lead to a historic energy crisis, warns Fatih Birol, head of the International Energy Agency, in an interview with CNBC. According to Birol, around 13 million barrels of oil per day have been knocked out and there are major disruptions to key raw materials.
– We are facing the greatest threat to energy security in history, Fatih Birol tells CNBC.
The IEA has previously warned of fuel shortages in Europe and that the situation is worse than the oil crises of the 1970s and the Ukraine war combined.
The war hits US farmers: “The last thing we needed”
The skyrocketing costs in the wake of the war in the Middle East are putting pressure on US farmers, reports the Financial Times. The price of fertilizer has skyrocketed at the same time as diesel has become more expensive.
“I am outraged [...] when the agricultural sector is already struggling, the last thing we needed was this,” farmer John Yeley told the FT.
Before the war, ammonia, which is spread on corn fields, cost $800 a tonne. Today, the price is $1,050, a $53,000 increase in costs for Yeley.
Russian invasion The world's response
Putin invited to the G20 summit in the US – maybe he will
The Russian president has been invited to the G20 summit in Miami, USA in December, reports AFP. Vladimir Putin has not yet decided whether he will attend or whether he will send someone else, the Kremlin spokesman told the news agency.
The last time Russia attended a G20 summit was in 2019. The pandemic and sanctions against Russia due to the invasion of Ukraine have since prevented the country from participating.
The International Criminal Court (ICC) issued an arrest warrant for Vladimir Putin in 2023. This means that he cannot travel to any of the ICC's member states without risking arrest, but the US is not a member.
Donald Trump said last year that he would like to receive both Putin and Xi Jinping at the G20 summit, according to the Kyiv Independent.
Slovakia confirms oil through Druzhba pipeline
The flow of Russian oil to Slovakia through the Druzhba pipeline has resumed, the country's Minister of Economy Denisa Saková confirmed according to the AP. The pipeline, which runs through Ukraine, was damaged in a Russian attack in January.
The interruption stopped deliveries to both Slovakia and Hungary and led to Hungary halting the EU's large loan to Ukraine. After the oil began to be pumped again, Hungary has agreed to release the loan, which is described as crucial for Ukraine's defense against Russia.
According to the AP, the flow resumed at 02:00 last night after a three-month stop.
Russian invasion Economic effects
Norway earns billions from the oil crisis – every day
The Norwegian oil and gas industry earns about one and a half billion Norwegian kroner extra a day from the oil crisis. This is what Robert Næss, investment director at Nordea, tells Ekot.
Profitability in other sectors such as aluminum and fertilizer has also increased sharply due to rising prices due to the war.
March was also the strongest month for the Oslo Stock Exchange since 1989.
According to Finance Minister Jens Stoltenberg, the war is not ultimately positive for Norway. Inflation is increasing and prices are also rising in Norway. Large parts of the Norwegian oil fund are also invested in falling stock markets – the fund's value has fallen by two percent or 1.27 trillion Norwegian kroner in the first quarter of this year, according to Bloomberg.
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