LONDON—World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar. The enthusiasm that had given Wall Street its best day in over a month on Tuesday was…
Record Number of Travelers to Hit US Roads for July 4 Weekend: AAA
A record 42 million people around the United States are expected to hit the road for trips over the July 4 Independence Day weekend, AAA said Tuesday, absorbing historically high fuel costs to crowd the highways. The average U.S. retail price of gasoline recently broke through $5 per gallon for the first time in history….
Germany Risks Recession as Russian Gas Crisis Deepens
BERLIN/COPENHAGEN—Germany faces certain recession if already faltering Russian gas supplies completely stop, an industry body warned on Tuesday, as Sweden joined a growing list of European nations rolling out emergency plans to cope with a deepening energy supply crisis. European Union countries from the Baltic Sea in the north to the Adriatic coast in the…
Oil Prices Climb on Supply and Demand Fundamentals
LONDON—Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.61, or 1.4 percent, to $115.74 a barrel by 0825 GMT. U.S. West Texas Intermediate (WTI) crude for July, which expires later on Tuesday, rose $2.29, or…
European Shares Rise, Dollar Slips as Market Selloff Pauses
LONDON—European shares opened higher on Tuesday, recovering slightly from last week’s 17-month lows as the selloff paused, but major central banks’ rate hike plans and global recession risks kept investors cautious. World stocks have edged higher so far this week, recovering from last week’s sharp selloff which saw global equities tumble to their lowest since…
Brussels at Near-Standstill as Cost-of-Living March Draws 70,000
BRUSSELS—Around 70,000 Belgian workers marched through Brussels on Monday demanding government action to tackle sharply rising living costs, as one-day strikes at Brussels Airport and on local transport networks nationwide brought public travel to a near-halt. Protesters carried flags and banners reading “More respect, higher wages” and “End excise duty,” while some set off flares….
Gas Prices Fall Below $5 per Gallon After Reaching Historic High on June 14
The average price for a gallon of gas in the United States remains below $5, falling for the fourth consecutive day after hitting a high of $5.014 during the week of June 13, 2022. The price of gas dropped to $4.981 per gallon on June 20, according to AAA, after gas averages fell to $4.99 per gallon on…
Austria Reviving Coal-Fired Power Plants as Safeguard Against Reduced Russian Gas Supply
June 20, 2022
admin
Austrian ChancellorBusiness & MarketscommoditieseconomyEuropeEurope gasMarketsrussian gasRussian sanctionsWorld
0 Comment
The Austrian government has decided to use coal power to produce electricity in case curtailed Russian gas supply creates an energy emergency in the nation. “The federal government and the energy group VERBUND have agreed to convert the Mellach (Styria) district heating power plant, which is currently shut down, so that in an emergency it…
China May Oil Imports From Russia Soar to a Record, Surpass Top Supplier Saudi
June 20, 2022
admin
Business & MarketsChinaChina Business & Economycommoditieseconomic policieseconomyEuropeMarketsOilRussiatradeWorld
0 Comment
SINGAPORE—China’s crude oil imports from Russia soared 55 percent from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine. Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean…
European Natural Gas Prices Surge as Russia Closes Taps
June 20, 2022
admin
Business & Marketscommoditieseconomic policieseconomyEuropeinflationInternationalMarketsNatural gaspricesRussia-Ukraine WarWorld
0 Comment
European natural gas prices jumped over 7 percent intraday Monday, building on last week’s sharp rally as Russia’s supply cuts drove concerns about critical shortages and rationing. The European benchmark for natural gas, the Dutch TTF front-month gas futures contracts, were up 7.442 percent at 126.5 euros per megawatt-hour as of 8:44 a.m. on June…
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`