The head of the International Monetary Fund (IMF) on Wednesday said the outlook for the global economy had “darkened significantly” since April and she could not rule out a possible global recession next year given the elevated risks. IMF Managing Director Kristalina Georgieva told Reuters the fund would downgrade in coming weeks its 2022 forecast…
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…
Euro Just Off Two-Decade Low, Volatility at Highest Since March 2020
A slight pullback in the dollar offered the euro some respite, allowing it to edge away from two-decade lows reached this week after surging energy prices fanned recession fears. Risky assets, including the euro, managed gradual gains on Thursday as investors grappled with the risks of a recession and a potential pause in interest rate…
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…
Euro Falls to Lowest Since 2002 on Concerns Over Energy Prices
July 6, 2022
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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…
Oil Prices Bounce Back From Tuesday Tumble as Supply Concerns Return
KUALA LUMPUR—Oil prices rose as much as nearly 3 percent on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger. Brent crude futures rose as much as $3.08, or…
Global Markets Steady but Recession Fears Remain
LONDON/SINGAPORE/TOKYO—Tentative calm returned to global markets on Wednesday, with the euro steadying after dropping to a two-decade low and oil back above $100 a barrel following a near 10 percent plunge a day earlier. The single currency traded at $1.025, a fraction above its weakest level since late 2002 touched overnight as fears of a…
Euro Plunges to Two-Decade Low Versus Dollar as Economic Fears Mount
LONDON—The euro sank to a two-decade low versus the dollar on Tuesday as another surge in natural gas prices reignited worries about the health of the eurozone economy and data showed eurozone business growth slowed sharply in June. The euro tumbled 0.9 percent against the dollar to $1.0325, its weakest since December 2002. Versus the…
Oil Falls as Recession Fears Boost Demand Concerns
LONDON—Oil prices slipped on Tuesday, reversing earlier gains, as concerns of a possible global recession curtailing fuel demand outweighed supply disruption fears, highlighted by an expected production cut in Norway. Brent crude fell $1.49, or 1.3 percent, to $112.01 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude fell 15 cents, or 0.1…
Global Shares Mixed as Inflation, Energy Weigh on Growth
TOKYO—Shares declined Tuesday in Europe after an upbeat session in Asia, while Wall Street futures slipped ahead of the reopening of U.S. markets from the Independence Day holiday. Benchmarks also fell in Paris, London, Frankfurt, and Shanghai. But stocks gained in Tokyo, Seoul and Hong Kong. The war in Ukraine and its impact on energy…
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