LONDON—Oil prices were stable on Wednesday, as the market weighed gloomy economic prospects against expectations of U.S. crude inventory declines and OPEC’s voluntary output cuts announcement. Brent crude futures gained 22 cents, or 0.26 percent, to $85.16 a barrel by 0747 GMT. West Texas Intermediate U.S. crude was up 12 cents, or 0.15 percent, to…
Oil Prices Stable as Economic Fears Balance OPEC+ Cuts
April 5, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Stocks Falter as Economic Worries Nag, Big Rate Hike Lifts Kiwi Dollar
April 5, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stock markets stumbled on Wednesday as signs that the economic outlook is weakening spurred caution, while a bigger-than-expected interest-rate hike from New Zealand lifted the kiwi dollar. European stocks fell with the broad STOXX 600 index pulling away from Tuesday’s one-month highs. U.S. equity futures dipped and Japan’s Nikkei fell 1.6 percent in its…
Australia Strikes Pact With UK on Minerals, Rare Earths
Australia and the United Kingdom have pledged to boost the global supply of critical minerals needed to power a cleaner world economy. Australia is the world’s top producer of raw lithium and other crucial ingredients for electric cars, new energy equipment and advanced communications. But with China dominating the supply of purified critical minerals and…
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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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 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…
China Seeks to Dethrone Dollar 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…
US Should Shift to Green Energies to Curb Dependence on China: Cybersecurity Expert
April 4, 2023
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Business & MarketsCERAWeekChinaenergyGlobal Expansiongreen energyPolicies & ImpactsS&P GlobalSpecial TopicsUSUS-China relations
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As the Biden administration “races to deploy green energy,” the United States should rationally shift its policies to curb its dependence on China, according to Rex Lee, a cybersecurity adviser at My Smart Privacy. “My viewpoint on this is that we do need to migrate part of our grid to renewable energies. And I think…
US Should Rationally Shift Its Green Energy Policies to Curb Dependence on China: Cybersecurity Expert
April 4, 2023
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Business & MarketsCERAWeekChinaenergyGlobal Expansiongreen energyPolicies & ImpactsS&P GlobalSpecial TopicsUSUS-China relations
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As the Biden administration “races to deploy green energy,” the United States should rationally shift its policies to curb its dependence on China, according to Rex Lee, a cybersecurity adviser at My Smart Privacy. “My viewpoint on this is that we do need to migrate part of our grid to renewable energies. And I think…
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…
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