Category: commodities

Oil Prices Rise as Tight Supply Counters China COVID-19, Recession Worries

LONDON—Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China. Brent crude futures rose 94 cents, or 0.9 percent, to $123.21 a barrel at 1029 GMT, while U.S. West Texas Intermediate (WTI) crude rose 79 cents, or 0.7…


World Shares Wobbly After Wall Street Sinks Into Bear Market

TOKYO—Global stocks drifted lower Tuesday in the wake of Wall Street’s tumble into a bear market, as investors anxiously contemplated a new and uncertain world of higher interest rates, international conflict, and recession fears. Shares traded down in Europe, erasing brief gains after the markets opened, while Asian shares fell but later recovered some gains….


Here Are the Six Banks West Virginia Says Violate Its Fossil Fuel Anti-Boycott Law

The Epoch Times can name six financial institutions that the West Virginia State Treasurer’s office contacted on June 10 regarding alleged violations of its new law aimed at stopping banks boycotting the energy sector. They are BlackRock, Goldman Sachs, JPMorgan Chase, Morgan Stanley, U.S. Bancorp, and Wells Fargo. The treasurer’s office provided the names on…


Here Are the Six Financial Institutions West Virginia Says Violate Its Fossil Fuel Anti-Boycott Law

The Epoch Times can name six financial institutions that the West Virginia State Treasurer’s office contacted on June 10 regarding alleged violations of its new law aimed at stopping banks boycotting the energy sector. They are BlackRock, Goldman Sachs, JPMorgan Chase, Morgan Stanley, U.S. Bancorp, and Wells Fargo. The treasurer’s office provided the names on…


S&P 500 Falls Back Into Bear Market as Wall Street Opens Down

Wall Street’s main indexes opened sharply lower on Monday amid a broader risk-off sentiment that also saw cryptocurrencies take a beating, while the benchmark S&P 500 fell into a bear market intraday as a higher-than-expected inflation print last week raised bets the Fed would tighten faster and further to quell price pressures. Shortly after opening…


Oil Falls on Beijing’s COVID-19 Warning, Inflation Worries

LONDON—Oil dropped about $2 a barrel on Monday as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound, while worries about more interest rate hikes to control rampant inflation added further pressure. Beijing’s most populous district Chaoyang announced three rounds of mass testing to quell a COVID-19 outbreak that emerged…


World Stocks Near Fresh 2022 Lows on Inflation Fears

LONDON—World stocks fell towards fresh 2022 lows and the Japanese yen slid to levels not seen in nearly a quarter of a century on Monday as red-hot U.S. inflation fuelled worries about even more aggressive policy tightening in a big week for central banks. The substantially higher-than-expected U.S. CPI print on Friday was hard to…


Average Cost for a Gallon of Gas Hits $5 for First Time in US History

The average price of a gallon of gas nationwide has hit $5 a gallon for the first time in history. The average price hit $5 on June 11, according to the American Automobile Association (AAA), which tracks prices. The average is as high as $6.43 in some states, including California, and as low as $4.46 in…


West Virginia Notifies Six Banks They May Be Breaking State’s Fossil Fuel Anti-Boycott Law

Six banks have been warned by the West Virginia State Treasury that they may be in violation of a new law preventing the state from doing business with financial institutions boycotting energy companies. The office told The Epoch Times it had sent out letters on June 10, but did not share the banks’ names on…


EXCLUSIVE: West Virginia Notifies Six Banks They May Be Breaking State’s Fossil Fuel Anti-Boycott Law

Six banks have been warned by the West Virginia State Treasury that they may be in violation of a new law preventing the state from doing business with financial institutions boycotting energy companies. The office told The Epoch Times it had sent out letters on June 10, but did not share the banks’ names on…