LONDON—Oil rose in volatile trade on Friday but was still heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle growth, while mass COVID-19 testing in Shanghai this week stoked fears…
European Shares Edge Higher Ahead of US Jobs Data
LONDON—European shares edged higher on Friday and were set for a small weekly gain as investors waited for U.S. jobs data to indicate the health of the world’s biggest economy, while recession fears receded slightly. Comments by U.S. Federal Reserve policymakers and news of Chinese fiscal stimulus on Thursday had improved sentiment, analysts said, but…
US Trade Deficit Narrows in May; Exports Hit Record High
WASHINGTON—The U.S. trade deficit narrowed in May as slowing domestic demand amid rising interest rates curbed imports, which could see trade contributing to economic growth in the second quarter after being a drag for nearly two years. The Commerce Department said on Thursday that the trade deficit declined 1.3 percent to $85.5 billion. Imports of…
Brent Holds Above $100 in Tussle Between Supply, Recession Fears
LONDON— Oil prices were steady on Thursday after steep losses in the previous two sessions, as investors returned their focus to tight supply even as fears of a global recession persisted. Brent crude futures rose 14 cents, or 0.1 percent, to $100.83 a barrel by 0900 GMT. WTI crude futures climbed 21 cents, or 0.2…
Global Stocks Higher After Fed Says Rate Hikes May Be Needed
BEIJING—Global stock markets and Wall Street futures gained Thursday after lower oil prices helped to offset fears about surging inflation the Federal Reserve said might require more U.S. interest rate hikes. London and Frankfurt opened higher. Shanghai, Tokyo, and Hong Kong advanced. Oil prices edged up after falling below $100 per barrel this week. Investors…
US Sanctions Network for Selling Iranian Oil to China, East Asia
July 7, 2022
admin
Asia & PacificBusiness & MarketsChinaChina Business & Economycommoditieseconomic policiesInternationalInvestmentiranian oilMarketsMiddle EastpetroleumUSUS NewsUS-China relationsWorld
0 Comment
The United States on Wednesday sanctioned an international network of companies for having allegedly violated oil sanctions on Iran by selling Iranian oil to China and other countries in east Asia. The Treasury Department said in a release it imposed sanctions on the companies that are accused of having facilitated the sale of hundreds of…
Recession Barometer Copper Continues Its Sharp Sell Off
Copper on July 6 plunged below $7,500 a ton, as increasing fears of a global recession hit the industrial metals market, lowering prices from its record highs a months ago. The price of copper has dropped by 7.1 percent week over week, according to a Twitter post from Hedgeye, an online investment research and financial media company. Copper…
In Blow for Green Hardliners, Vote Allows Natural Gas and Nuclear Into Key EU Taxonomy
July 6, 2022
admin
Business & Marketscommoditieseconomic policieseconomyEnvironmentEUEuropegreta thunbergInternationalMarketsNatural gasNuclearScienceWorld
0 Comment
Members of European Parliament (MEPs) voted on July 6 not to reject adding nuclear and natural gas activities to the European Union taxonomy for sustainable investments. Opponents of the change had to secure an absolute majority of the 705-member European Parliament, or 353 MEPs. Just 328 MEPs voted against the European Commission Act, which would…
Nigeria’s Barkindo, Who Led OPEC in Turbulent Times, Dies at 63
ABUJA—The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. Barkindo, 63, a veteran of the oil industry, was due to step down at the end of this month after six years in the top job at the Organization of the Petroleum…
Euro Falls to Lowest Since 2002 on Concerns Over Energy Prices
July 6, 2022
admin
Business & Marketscommoditiescryptocurrencyeconomic policieseconomyForexglobalinflationMarketsrecessionstocks
0 Comment
The euro tumbled to a new two-decade low on Wednesday as fears over rising energy prices and potential shortages cast a long shadow over the bloc’s economy, while demand for safe-haven assets drove the dollar to fresh 20-year highs. All oil and gas fields that were affected by a strike in Norway’s petroleum sector are…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`