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HONG KONG, China (AFP) — Oil prices tumbled Thursday on reports that the United States is considering tapping its reserves to combat a supply crisis sparked by the Ukraine war. However, equities struggled to build on the week’s rally after Russia poured cold water on hopes that ceasefire talks were progressing, leaving the prospect of a protracted war in eastern Europe. The conflict has already sent shockwaves through the world economy, with growth forecasts […]
NEW YORK, United States (AFP) — Oil prices soared Monday as a weekend attack on Saudi facilities and discussions among European Union members over banning Russian crude raised concerns about global supplies. Top producer Saudi Arabia warned that Yemeni rebel attacks on the kingdom’s oil facilities pose a “direct threat” to global supplies, while Baltic states indicated they would favor an embargo of Russian crude in retaliation for its invasion of Ukraine. The comments propelled […]
HONG KONG, China (AFP) — Asian equities were mixed Wednesday as three days of painful losses gave way to a semblance of stability, though oil prices extended gains after the United States and Britain moved to ban imports of Russian crude. But while the panic selling that characterized markets for two weeks eased, analysts warned of further volatility as Russia showed no sign of letting up on its invasion of Ukraine. The crisis has fuelled […]
LONDON, United Kingdom (AFP) — World oil prices jumped Tuesday with WTI crude hitting a fresh 2014 peak, as traders fretted over fallout from key producer Russia’s invasion of Ukraine. New York’s West Texas Intermediate (WTI) soared as high as $101.53 per barrel in early afternoon deals. Brent leapt to $104.60, approaching its 2014 peak of $105.79 that was struck last Thursday as Russia launched its assault on Ukraine. “Traders and investors are increasingly worried […]
by John BIERS Agence France-Presse NEW YORK, United States (AFP) – As commodity prices soar, the Ukraine crisis has prompted demands from petroleum lobbies for a reboot of US energy policy to promote domestic oil and gas production. But recent history suggests Wall Street may be an even bigger barrier than Washington to increased exploration and production. As oil prices have risen over the last year — including Thursday’s brief surge above $100 a barrel […]
HONG KONG, China (AFP) — Equities mostly rose Wednesday and oil prices stabilized as investors tracked developments in the Russia-Ukraine crisis after world powers imposed less harsh sanctions on Moscow than feared. However, trading floors remain on edge after Russian President Vladimir Putin ordered his forces into Ukraine to secure the self-declared Donetsk and Lugansk rebel republics, with Western leaders warning that a war could break out imminently. Global markets have been in turmoil since […]
HONG KONG, China (AFP) — Most Asian and European markets rose Monday as traders brushed off another negative performance on Wall Street as US data showed fewer new jobs than expected were created last month but that wages saw a strong gain, keeping pressure on the Federal Reserve in its battle against inflation. Traders will be keeping a watch on inflation readings out of the United States and China this week as they try to […]
HONG KONG, China (AFP) — Markets struggled in Asia on Wednesday following a tepid lead from Wall Street, with inflation and expected interest rate hikes returning to the key focus of concerns as Omicron fears fade for now. While the new Covid variant continues to spread rapidly around the world, forcing governments to maintain containment measures, its apparently milder symptoms have allowed traders to focus more on future economic policies and plans to rein in […]
HONG KONG, China (AFP) — Asian markets rose Tuesday following a strong lead from yet another record on Wall Street that was fuelled by easing concerns about Omicron and remaining optimism about the economic recovery. While the new Covid variant is spreading like wildfire around the world, it appears to be far less severe than initially feared, raising hopes that the pandemic could be overcome and life return to a little more normality. However, inflation, […]
HONG KONG, China (AFP) — Asian stocks fell on Monday on fears about a fresh global surge in coronavirus infections and as the future of US President Joe Biden’s massive social spending bill was thrown into doubt after it lost the crucial vote of a moderate Democrat. With traders beginning to wind down ahead of the festive season, analysts said trade was thinner and markets more susceptible to swings, but the mood has become increasingly […]
HONG KONG, China (AFP) — Asian markets and oil prices sank while safe havens rallied on Friday over fears of a new Covid-19 variant that scientists warn could be more infectious than Delta and more resistant to vaccines, dealing a blow to the global recovery. The B.1.1.529 strain has been blamed for a surge in fresh cases in South Africa and has already cropped up in Hong Kong, with the World Health Organization due to […]
HONG KONG, China (AFP) — Markets were mixed in Asia on Tuesday and the dollar extended gains as investors bet on a quicker pace of monetary tightening by the Federal Reserve after Jerome Powell was nominated to serve a second term as boss and said his goal was to tame the recent spike in inflation. While Powell was widely expected to get the nod from Joe Biden to continue to head the central bank, the […]
