A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of China’s strategy to gain influence over global…
China’s ‘De-dollarization’ Efforts Are Part of a Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaCompaniesDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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China’s ‘De-Dollarization’ Efforts Are Part of Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
Oil Extends Gains on OPEC+ Surprise Cuts
April 4, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact of higher prices on the global economy. Brent crude futures were up 43 cents, or 0.5 percent, to $85.36 a barrel by 0925 GMT. U.S. West Texas Intermediate…
Shares Rise, but Concern Mounts Over Inflation Flare-Up
April 4, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks rose in cautious trade on Tuesday as investors grappled with the possibility of a flare-up in inflation due to the OPEC+ group’s surprise output cut, while the dollar sagged after weak U.S. manufacturing data the previous day. An announcement on Sunday of an output target cut by the Organization of the Petroleum Exporting…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 3)
April 3, 2023
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Benchmark U.S. crude oil for May delivery rose $4.75 to $80.42 a barrel Monday. Brent crude for June delivery rose $5.04 to $84.93 a barrel. Wholesale gasoline for May delivery rose 8 cents to $2.76 a gallon. May heating oil rose 4 cents to $2.66 a gallon. May natural gas fell 12 cents to $2.10…
Who Owns the Most Gold Privately? Notable Gold Investors
Have you ever wondered who owns the most gold privately? The gold industry is thriving, as this yellow metal is highly coveted and a safe haven investment that usually appreciates over the long term. However, there’s only a finite supply of gold in the world. So, who are the individuals and families that own the…
Dollar Gains as Surprise OPEC+ Cut Adds to Inflation Conundrum
April 3, 2023
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Business & Marketscryptocurrencyeconomic policieseconomyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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SINGAPORE/LONDON—The dollar rose against other major currencies on Monday as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production targets further, with traders wagering the Federal Reserve may need to increase interest rates again at its next meeting. The announcement on Sunday by the Organization of the Petroleum Exporting…
Oil Prices Surge, Fed Rate Path in Question Again
April 3, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SYDNEY/LONDON—Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets and boosted the dollar due to reinvigorated fears about the stickiness of global inflation. Brent oil futures looked set for its biggest daily percentage gain in around a…
Oil Prices Soar After OPEC’s Shock Production Cut
Oil prices surged over 5 percent on Monday, notching their biggest daily jump in nearly a year after OPEC+ surprised markets on Sunday by announcing production cuts. In early trading Monday, the U.S. crude oil benchmark West Texas Intermediate (WTI) rose $4.38 to $80.03 per barrel, or 5.79 percent, according to TradingView data. Brent crude,…
Closing Prices for Crude Oil, Gold and Other (Mar. 31)
March 31, 2023
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Benchmark U.S. crude oil for May delivery rose $1.30 to $75.67 a barrel Friday. Brent crude for May delivery rose 50 cents to $79.77 a barrel. Wholesale gasoline for April delivery rose 4 cents to $2.70 a gallon. April heating oil rose 6 cents to $2.68 a gallon. May natural gas rose 12 cents to…
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