Prices at the petrol pumps in Britain reached an all-time high over the weekend, while diesel is still a little short of its previous record, new data shows. The average UK price of petrol hit 142.94 pence a litre on Sunday Oct. 24, beating the former record, set in April 2012, by 0.46p. Meanwhile, diesel…
Tesla Hikes Price of Model X, Model S Variants by $5,000
Electric-car maker Tesla Inc. on Saturday announced a price hike of $5,000 for its Model X Long Range and Model S Long Range variants. The Model X Long Range and S Long Range will now sell for $104,990 and $94,990, respectively. According to Tesla’s website, the electric carmaker also increased the price of the Model…
Wall Street Week Ahead: Energy Price Spike Adds Market Risk as Earnings Arrive
October 9, 2021
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NEW YORK—U.S. stock market investors are gauging whether more volatility is ahead because of surging global energy prices, which could drive up inflation, erode profit margins, and pressure consumer spending. Stocks rebounded this week after Monday’s losses left the S&P 500 down 5.2 percent from its record high hit in September. A truce in the…
Shares Climb Again as Energy Price Dip Eases Stagflation Fears
October 7, 2021
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LONDON—World stock markets got their foot back on the gas on Thursday as hopes grew that Washington could resolve its debt-ceiling squabbles and a global drop in energy prices tempered deepening fears of “stagflation”. Europe’s bourses rallied off 2–1/2-month lows as easing oil and gas prices offered relief after a shock 4 percent drop in…
OPEC+ Sticks to Plan for Gradual Output Hike, Oil Price Roars Higher
October 4, 2021
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LONDON―OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic. The Organization of the Petroleum Exporting Countries, Russia, and allies, known as OPEC+, have…
Oil Prices Rise on Tight Supply, Renewed Risk Appetite
September 23, 2021
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LONDON—Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes. Brent crude rose 9 cents, or 0.1 percent, to $76.28 a barrel at 0856 GMT. U.S. West Texas Intermediate (WTI) crude was up…
EU Energy Ministers Meet to Discuss Power Price Surge
Energy ministers from European Union countries will on Wednesday (September 22) discuss the soaring price of gas and electricity across Europe, as some governments draw up measures to protect their consumers. Benchmark European power prices have rocketed this year, more than trebling in Spain and elsewhere, partly because gas prices have been driven up by…
Europe’s Low-Cost Carriers Will Help to Drive Demand for New Planes Over Next 20 Years: Boeing
European low-cost carriers will help drive demand for new planes in the region over the next 20 years, as airlines replace their older fleets with more fuel-efficient jets, planemaker Boeing said on Sept. 21. Boeing said that it expects airlines in Europe to order 7,100 new single-aisle planes between now and 2040. Single-aisle planes are typically…
Gas Price Surge, Just One More Headwind for World Economy
LONDON—Soaring gas prices that threaten to push up winter fuel bills, hurt consumption and exacerbate a near-term spike in inflation are another blow to a world economy just getting back on its feet after the coronavirus shock. The gas market chaos, which has driven prices 280 percent higher in Europe this year and led to…
Oil Rises 1 Percent as US Storm Aftermath Tightens Supply
September 21, 2021
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TOKYO—Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande. Brent crude gained 95 cents or 1.3 percent to $74.87 a barrel by 0645 GMT,…
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