Breaking News, Latest Philippines Headlines, World, Entertainment, Politics, Weather & Video News
by Chris Stein Agence France-Presse WASHINGTON, D.C., United States (AFP) – Bill Suan bought his family’s cattle farm in the mountains of West Virginia a decade-and-a-half ago with little thought for the two gas wells drilled on the property — but then they started leaking oil onto his fields and sickening his cows. After taking the operator to court, Suan was successful in plugging one well, but the company has since disappeared, leaving him to […]
Brent oil hits $119.84 a barrel for the first time since early 2012 HONG KONG, China (AFP) — Stocks rose Thursday after Federal Reserve chief Jerome Powell said the bank would hike interest rates gradually to fight inflation, though oil marched towards $120 as the Ukraine conflict continues to roil energy markets. With the Russian invasion of its neighbour hammering all assets across the board as uncertainty reigns supreme, traders were given a much-needed […]
LONDON, United Kingdom (AFP) — European gas prices surged by around 50 percent Wednesday to a record high on supply fears following key producer Russia’s invasion of Ukraine. Europe’s reference Dutch TTF gas price hit 194.715 euros per megawatt hour in morning deals. UK gas prices jumped as high as 463.84 pence per therm, close to the record 470.83 pence struck in December. The assault on Ukraine also sent oil prices rocketing Wednesday because Russia […]
Crude surged past $113 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Russian President Vladimir Putin’s invasion of his neighbour has sent world markets into a spiral over the past week, further fraying nerves on trading floors caused by runaway inflation and tighter central bank monetary policies. The crisis has seen numerous countries hammer Moscow with a series […]
RIYADH, Saudi Arabia (AFP) — Saudi energy giant Aramco’s shares rose to a record high on Wednesday amid a surge in global oil prices following Russia’s invasion of Ukraine. Aramco’s stock was trading at 42.9 Saudi riyals ($11.4) in Riyadh, according to the Saudi Tadawul market website. The Gulf kingdom — the world’s top crude exporter — has remained the firm’s majority shareholder since a December 11, 2019 listing. © Agence France-Presse
COLOMBO, Sri Lanka (AFP) – Sri Lanka’s public transport was crippled Wednesday as buses ran out of diesel, officials said as the country’s foreign exchange crisis worsened with no dollars to import fuel. The Private Bus Owners’ Association said they were able to operate only about a quarter of their fleet of 20,000 vehicles, while drivers reported queuing for seven hours to top up fuel. “I could not run the bus for two days because […]
WASHINGTON, United States (AFP) — The United States will contribute half of the 60 million barrels of oil International Energy Agency (IEA) countries agreed to release Tuesday to stabilize global markets after Russia’s invasion of Ukraine, President Joe Biden said. “I can announce the United States has worked with 30 other countries to release 60 million barrels of oil from reserves around the world. America will lead that effort, releasing 30 million barrels of oil,” […]
HONG KONG, China (AFP) — Crude surged past $110 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Vladimir Putin’s invasion of his neighbor has sent world markets into a spiral over the past week, further fraying nerves on trading floors caused by runaway inflation and tighter central bank monetary policies. The crisis has seen numerous countries hammer Moscow with […]
NEW YORK, United States (AFP) – US oil giant ExxonMobil announced Tuesday it will begin a phased withdrawal from the major oil field it operates in Russia on behalf of a consortium including Russian, Indian and Japanese companies, citing Moscow’s invasion of Ukraine. “In response to recent events, we are beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture,” the group said in a statement. The group added that it […]
US benchmark oil contract, West Texas Intermediate, soared more than 10 percent in value Tuesday, as Ukraine’s invasion by key producer Russia fuels fears over supplies. WTI reached $106.29 per barrel and European benchmark Brent North Sea crude surged more than nine percent to $107.44 — with both levels the highest in more than seven years. emb-bcp/kjm © Agence France-Presse
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 […]
NEW YORK, United States (AFP) — Oil prices surged Monday while the ruble collapsed and global stocks mostly retreated after world powers imposed new sanctions on Russia over its invasion of Ukraine. Western powers added to the growing litany of penalties on Moscow, with the United States and Canada banning all transactions with Russia’s central bank and the European Union adding more close allies of President Vladimir Putin to its sanctions blacklist. Russian President Vladimir […]
