MILAN—Shares fell and the dollar held near highs in holiday-thinned trading on Monday, as concerns about economic growth lingered ahead of an expected U.S. rate hike this week and after data showed COVID-19 lockdowns slowed China’s factory activity. MSCI’s benchmark for global stocks was down by 0.3 percent by 0811 GMT, as European and Asian…
Gold Gains Over 1 Percent, but Set for Monthly Decline
Gold prices rallied 1 percent on Friday on the back of a retreat in the dollar, but the metal was set to end the month lower on bets of aggressive policy tightening by the U.S. Federal Reserve. Spot gold was up 0.7 percent at $1,908.20 per ounce by 1607 GMT. However, it was on course…
Transport Experts Say Rail Backlogs, Labor Shortages Delaying Shipments of US Grain
Rail backlogs in the United States are delaying the shipment of grains, and further exacerbating inflation, industry experts said at a hearing this week addressing urgent freight rail service issues. “In recent weeks the board has received communications from a broad range of stakeholders of serious problems affecting the freight rail network, namely inconsistent and unreliable…
Oil Extends Gains as Supply Fears Outweigh China Lockdowns
LONDON—Oil prices rose for a fourth day on Friday as fears over Russian supply disruption trumped COVID-19 lockdowns in China, the world’s biggest crude importer. Brent crude futures rose by $1.90, or 1.8 percent, to $109.49 a barrel by 1127 GMT after gaining 2.1 percent in the previous session. The front-month June contract expires later…
Report: Germany Top Buyer of Russian Energy Since War Began
BERLIN—Germany was the biggest buyer of Russian energy during the first two months of the war in Ukraine, an independent research group said Thursday. A study published by the Centre for Research on Energy and Clean Air calculates that Russia has earned 63 billion euros ($66.5 billion) from fossil fuel exports since Feb. 24, the…
Oil Prices Fluctuate in the Face of Supply and Demand Concerns
LONDON—Oil prices dipped but were trading in and out of positive territory on Thursday as investors weighed up tightening Russian supplies and the prospect of dwindling fuel demand in China. Brent crude futures were down 63 cents, or 0.6 percent, at $104.69 a barrel by 1129 GMT. U.S. West Texas Intermediate crude lost 49 cents,…
Energy Prices Bump German Inflation to Four-Decade High
BERLIN—German inflation hit its highest level in more than four decades in April, pushed higher by natural gas and mineral oil products that have significantly increased in price since Russia’s attack on Ukraine. Consumer prices, harmonized to make them comparable with inflation data from other European Union countries (HICP), rose an annual 7.8 percent, a…
Tech Earnings Buoy Stocks as Yen Slips to 20-year Low
LONDON—The dollar was on the cusp on Thursday of its highest in two decades after the Bank of Japan doubled down on its ultra loose monetary policy, while technology stocks gained on strong earnings, led by a rally in Facebook parent Meta Platforms. The yen dropped to a 20-year low and breached 131 per dollar,…
Russia’s Gas Threat in Europe Rattles Energy Markets
European gas prices soared more than 10 percent after Russia announced that it would suspend gas supplies to Poland and Bulgaria for refusing to pay in roubles for Russian gas. Both countries declined to open a special bank account with Gazprombank to allow payment to Gazprom. These two nations, however, are heavily reliant on Russian…
Europe’s Russian Diesel Imports Drop, but Still Dominant
LONDON—European diesel imports from Russia are set to fall in April but will still exceed those from other regions, highlighting the challenge European governments face as they contemplate new sanctions on Russian oil. Diesel deliveries from Asia, the Middle East, and the United States are set to hit their highest in almost three years in…
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