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HONG KONG, China (AFP) – Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession. The drop followed another day deep in the red for New York’s three main indexes after the heads of Wall Street’s leading banks warned of tough times ahead in 2023. JPMorgan Chase chief Jamie Dimon tipped a “mild to hard recession” and Goldman Sachs’ […]
HONG KONG, China (AFP) — Asian stocks largely continued a global rally on Tuesday, ahead of the release of key US consumer price data that is expected to show slightly slowing inflation in the world’s largest economy. Stocks rose in Japan, Australia, Singapore and Taiwan, with South Korea and Shanghai also gaining after reopening following a public holiday. European stocks were steady at the open. Hong Kong shares edged lower at the close, erasing […]
Price rollback came after two straight weeks of price hike (Eagle News) — Another oil price rollback is set on Tuesday, September 6, with gasoline prices being slashed by P2.60 per liter, and diesel prices by P1.55 per liter. Kerosene prices are also set to be reduced by P1.60 per liter effective Tuesday. This was announced by various oil companies following the lower crude prices in the world market. The rollback follows two straight […]
NEW YORK, United States (AFP) — Oil prices fell Monday on the prospects of a return of Iranian oil to the market and data showing China’s economic recovery stuttering under Covid-19 restrictions. Stock markets were broadly steady and the dollar traded mixed as investors digested the latest developments, including the surprise move by China’s central bank Monday to slash interest rates as a raft of data showed industrial production and retail sales growth for July […]
(Eagle News) – Oil prices will further go down on Tuesday, July 26, as world crude prices continued its slide. This week’s price rollback, however, is not that high compared to the previous two weeks. Gas prices will be slashed by 40 centavos per liter on Tuesday, July 26. But diesel prices would have a bigger rollback at P1.85 centavos per liter, and kerosene prices would be reduced by P1.30 per liter. Various oil companies […]
HONG KONG, China (AFP) — Asian markets and oil prices fell Monday with a fresh Covid flare-up in Shanghai fanning fears of another economically painful lockdown in China’s biggest city. The news came after a forecast-busting US jobs report last week indicated the world’s top economy was coping so far with the Federal Reserve interest rate hikes, giving it room for more as it battles soaring inflation. Traders are also keeping tabs on developments […]
HONG KONG, China (AFP) — Oil prices rose Wednesday after suffering a painful drop the previous day, though the euro remained wedged at a 20-year low and equities mostly fell in Asia as recession fears continue to flow through trading floors. Both main crude contracts were pummelled Tuesday as investors grow increasingly worried that leading economies will contract this year or next owing to sharp central bank interest rate hikes aimed at fighting decades-high […]
3rd oil price hike lower compared to the the price increase in the last two weeks Gas prices to increase by P0.80 per liter, diesel prices up by P3.10 per liter (Eagle News) – Effective Tuesday, June 21, oil companies will implement another round of oil price increase, although less than the hike implemented in the previous two weeks. Various oil companies have already issued advisories on the 80 centavo increase per liter of gasoline, […]
HONG KONG, China (AFP) — Asian markets fell again Monday and oil prices extended losses on growing fears that central bank moves to rein in soaring inflation will induce a recession. The losses come after a sell-off last week fuelled by the Federal Reserve’s sharp interest rate hike last week — the biggest in nearly 30 years — and a warning of more to come, while increases in Britain and Switzerland added to the gloom. […]
(Eagle News) – Oil prices will again increase tomorrow, Tuesday, June 13, the second straight week of price hike of oil products. Gas prices will increase by P2.15 per liter, while diesel prices will be up by 4.30 per liter. Kerosene, on the other hand, will increase by P4.85 per liter. Several gasoline stations have already posted their advisories for the oil price increase. Surging energy costs are being felt across the global economy […]
NEW YORK, United States (AFP) — Oil prices tumbled Monday along with equities in Europe and Asia on worries over a worsening Covid-19 outbreak in China, while US stocks finished a volatile session higher as Elon Musk sealed a deal to acquire Twitter. Crude prices dove more than three percent on growing concerns over Chinese lockdowns in response to its latest Covid-19 wave. Dollar-denominated oil has also been pressured by the higher dollar. Officials in […]
LONDON, United Kingdom (AFP) — World oil prices sank more than five percent Monday on fears that China’s worsening Covid outbreak could slam demand from the major energy consumer. Europe’s benchmark contract Brent North Sea crude fell as low as $101.20 per barrel and US WTI oil dropped to $96.85. China is struggling to get a grip on a renewed Covid outbreak that has forced Shanghai — the country’s biggest city — into lockdown […]
