LONDON—Oil dropped by more than 1 percent on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world’s second-biggest oil consumer while a partial restart of halted Libyan output also pressured. China’s gross domestic product (GDP) grew 6.3 percent year on year in the second quarter, compared with analyst forecasts…
Global Shares, Dollar Sag After China Data; Traders Bet on Fed Sea Change
July 17, 2023
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LONDON—Global shares and commodities slipped on Monday after data showed the Chinese economy is growing a lot more slowly than expected, while the dollar eased as traders ramped up their bets for an imminent end to U.S. rate rises. China reported economic growth of 0.8 percent in the second quarter, above the 0.5 percent forecasted,…
IN-DEPTH: The Recreational Fishing Industry Faces a Bleak Future in the Shadow of Wind Turbines, Local Fishermen Fear
July 14, 2023
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Destruction of habitat and change in the migratory patterns of fish caused by electromagnetic fields (EMFs) emitting from offshore wind turbine cables will demolish the recreational fishing industry along the Atlantic coast, local fishermen warn. Jim Hutchinson, the managing editor of the New Jersey Delaware Bay Edition of The Fisherman magazine, has been collecting studies…
Brent Oil Hovers Above $81 After Supply Disruptions
LONDON—Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria. Both the Brent and U.S. West Texas Intermediate (WTI) contracts had risen for three straight sessions and in early Asian trade on Friday, poised to register a third straight week…
World Stocks Hit New 2023 Highs After Rally on Inflation Data
July 14, 2023
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LONDON—World stocks extended their gains on Friday, on track for their biggest weekly rise this year, while the dollar held near 15-month lows as investors bet that the U.S. Federal Reserve was nearing the end of its rate-hiking cycle. Data on Wednesday showed U.S. consumer prices growing at their slowest pace in more than two…
Climate Change, The Voice Loses Public Support As Cost of Living Problems Bite: Poll
Australians are pessimistic about the future of the country as ongoing cost of living pressures continue to bite. SEC Newgate, the country’s largest strategic communications firm, released the findings of a survey of 2,207 Australians from Jun 23-28, which also found issues like climate change and The Voice lose public interest. The company found that…
US Oil Reserve Won’t Be Replenished for Several Years: Top Official
July 13, 2023
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Business & Marketseconomic policiesenergyExecutive BranchGold and CommoditiesJennifer GranholmMarketsOilPoliticsUSUS News
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The White House will not refill the Strategic Petroleum Reserve in the near future after millions of barrels were drawn last year, said U.S. Secretary of Energy Jennifer Granholm in a recent interview. It was announced last October by the Biden administration that it would re-buy crude oil when prices reach between $67 and $72 per barrel,…
Oil Benchmark Brent Hovers Above $80 After Pricing in US Data
LONDON—Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world’s biggest economy are close to their peak. Data released on Wednesday showed U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to…
Stocks Around 2023 Highs as Disinflation Signal Brings Some Relief
July 13, 2023
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LONDON—Global stocks traded around their highs for the year on Thursday as investors bet that the Federal Reserve was finally taming inflation and could end its rate hiking cycle as soon as this month. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years…
Consumer Watchdog Says Australians Paying Too Much for Electricity
As millions of Australians have been hit with electricity price surges since July, the Australian Competition and Consumer Commission (ACCC) has raised concerns that electricity bills are too high. In May, the Australian Energy Regulator released the new default market offer, which caps the maximum rate energy retailers can charge residential and small business customers…
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