LONDON—Oil prices fell on Wednesday on concerns that rising COVID-19 cases in China, the world’s top oil importer, will disrupt its economic recovery and fuel demand growth as it unwinds its pandemic restrictions. Brent futures for February delivery fell 78 cents, or 0.9 percent, to $83.55 a barrel, by 0900 GMT. U.S. crude fell 75…
Oil Prices Fall on Worries About China COVID-19 Surge, Global Recession
December 28, 2022
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Global Shares Muted as Investors Fret Over China Reopening
December 28, 2022
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SINGAPORE, LONDON—Global equities traded sideways on Wednesday after China took further steps towards reopening its COVID-battered economy, with hopes for an economic rebound tempered by near-term worries over rising cases. MSCI’s broadest index of global stocks was flat as investors stayed on the sidelines at the end of a brutal year for equities. The global…
Dollar Slips as Investors Take Heart From Looser China COVID-19 Rules
LONDON—The dollar fell on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travelers—a major step in reopening its borders that boosted risk-related currencies such as the New Zealand and Australian dollars. China will stop requiring inbound travelers to go into quarantine on arrival starting Jan. 8, the National Health Commission…
Oil Hits 3-week High as China Eases COVID-19 Curbs
December 27, 2022
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LONDON—Oil hit a three-week high on Tuesday as China’s latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to U.S. energy production caused by winter storms. China will stop requiring inbound travelers to go into quarantine, starting from Jan. 8, the National Health Commission said on…
Stocks and Commodities Jump as China Drops Quarantine Rule
December 27, 2022
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LONDON—Stock markets gained on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travelers—a major step in reopening its borders. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent, outperforming an index of global shares, which rose 0.2 percent. China’s bluechip gained 1 percent. The pan-European STOXX 600 index…
Dollar Steady After Strong US Data, Yen Set for Weekly Gain
LONDON/SINGAPORE—The dollar fluctuated on Friday and was little changed in morning trading in London after two days of gains, as investors weighed up the outlook for interest rates following the release of stronger-than-expected U.S. economic data on Thursday. The euro was up slightly against the dollar, standing 0.1 percent higher at $1.061, after slipping less…
Oil Rises 2 Percent on Russian Supply Worries; US Storm Impact in Focus
December 23, 2022
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LONDON—Oil prices rose 2 percent on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season. Brent crude was up by $1.40, or 1.70 percent, to $82.38 a barrel at 1044…
World Shares Mixed Before Updates on Spending, Durable Goods
December 23, 2022
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BANGKOK—Shares rose in Europe on Friday after a retreat in Asia ahead of updates on U.S. consumer spending and durable goods orders. Benchmarks climbed in London and Paris but fell in Hong Kong, Tokyo, and Seoul. Oil prices surged more than $1 a barrel. Japan reported its core inflation rate, excluding volatile fresh foods, rose…
‘Asia’s El Chapo’ Extradited to Australia to Face Drug Trafficking Charges
WELLINGTON—Australian Federal Police (AFP) said on Thursday it had taken the head of a global drug trafficking syndicate, dubbed “Asia’s El Chapo,” into custody after he was extradited from the Netherlands. The AFP said the arrest is the culmination of a long-running investigation into an organized crime syndicate known as “Sam Gor”, or “The Company”,…
US Dollar Likely Has Further Upside Versus Yen Despite BOJ Move: Goldman
December 22, 2022
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NEW YORK—The Bank of Japan, which widened the trading band for 10-year Japanese government bonds (JGBs) on Tuesday, may have inflicted damage on the dollar against the yen, but Goldman Sachs analysts said there was further room for the greenback to rise. On Tuesday, the dollar plunged as much as 4 percent against the yen,…
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