LONDON—European shares rebounded on Friday, playing catch-up with a modest bounce the previous day on Wall Street, and the dollar index hit 100 for the first time in nearly two years as U.S. bond yields hovered near multi-year highs. World stocks edged higher but were still on track for their first weekly loss in four…
UNICEF: Ukraine War Raising Malnutrition Risk in Middle East
BEIRUT—Rising food prices as a result of the Russian invasion of Ukraine are increasing the risk of malnutrition of millions of children in the Middle East and North Africa, the U.N. children’s agency warned Thursday. UNICEF added that families are struggling to put food on the table during the Muslim holy month of Ramadan, when…
JPMorgan Predicts That Global Commodities Prices May Rise by 40 Percent
Commodities prices could rise by 40 percent and will likely continue to go higher, according to a note from JPMorgan Chase from April 7, as raw materials hit a record high last month following Western sanctions on Russia due to its invasion of Ukraine. Russia is a main supplier for up to 10 percent of…
Over Thousand Railcars Carrying Grain Stuck at Ukraine Borders
April 7, 2022
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Business & EconomycommoditieseconomyEuropeMarketsRussia Ukraine invasionRussia-Ukraine WarUkraine borderUkraine economywheat shortagesWorld
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Ukrainian train wagons containing grain are stuck close to the country’s border with Poland, according to data from Kyiv’s state-run railway company Ukrzaliznytsia. In total, 24,190 wagons carrying various goods like chemicals, iron ore, coal, etc. are waiting to cross the western border, Reuters reported, citing the railway company data. Of this, roughly 1,100 wagons…
Lithium Prices Skyrocket, Electric Vehicles May Soon Follow
April 7, 2022
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Demand for lithium has spiked as electric vehicle adoption around the world grows, leading to a global shortage of the metal with spot prices for battery-grade lithium carbonate increasing more than 47 percent from the start of the year. Battery-grade lithium carbonate in China costs around 400,000-430,000 yuan ($62,865-$67,580) per ton based on data from…
Pain at the Pump Eases As More Supply Trims Gas Prices
National average gasoline prices have eased over the last week, dropping 1.7 percent to $4.153 per gallon, according to the American Automobile Association (AAA). The largest weekly declines were situated in Connecticut (-27 cents), Michigan (-10 cents), and Wisconsin and Indiana (-9 cents). The least expensive markets continue to be Missouri ($3.73), Oklahoma ($3.75), and…
Russian Gas Flows to Europe Dip in Line With Customer Requests
OSLO, Norway—Russian gas deliveries to Europe via the Yamal-Europe pipeline reversed direction to flow from Germany to Poland on Thursday morning and supplies via Ukraine also eased, all in line with requests from customers. Gas flows switched to an eastward direction into Poland at the Mallnow metering point on the German-Polish border on Thursday morning…
Senate Votes to End Normal Trade Relations, Oil Imports With Russia
April 7, 2022
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BelarusBusiness & Economycommoditiescongresseconomic policieseconomyEuropeMarketsPoliticsRussiaRussia-Ukraine WarSenateUSWorld
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The Senate on Thursday morning voted to end normal trade relations with Russia and Belarus and to bar Russian oil imports into the United States in response to the nations’ invasion of Ukraine. The bill to end normal trade relations with Russia and Belarus passed in a 100–0 vote, a rare event in increasingly divided…
US Shale Gas, LNG Firms Meet With European Countries Over Supply Crisis
April 7, 2022
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Business & Economycommoditiescrisiseconomic policieseconomyenergyEuropeGasMarketsRussiaRussia-Ukraine WarshalesupplyUkraineUSWorld
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At least a dozen U.S. shale gas executives met on Wednesday with European energy officials to discuss expanding U.S. fuel supplies to Europe amid a scramble to replace Russian imports. The group met in Houston with foreign affairs and economic ministers and commercial buyers looking to reduce their imports of Russian oil, coal, and liquefied…
Russian Stocks Gain, Ruble Steadies Despite Further Sanctions Planned From West
Russian stocks largely shrugged off threats of further sanctions from the West on March 6, making gains after previously sliding earlier in the day amid threats of further sanctions from the West, while the Ruble stabilized. The dollar-denominated RTS index fell to 979.34 points before reducing losses and adding 0.4 percent on the day to…
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