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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 […]
NEW YORK< United States (AFP) — US oil prices finished Wednesday at their lowest level since January on growing recession fears, while US stocks rebounded after a weak stretch left the market “oversold,” as analysts put it. Oil prices briefly climbed early on Wednesday as Russia’s President Vladimir Putin said his country would stop delivering oil and gas supplies to countries that introduce price caps. But then oil prices then turned sharply lower, with […]
MOSCOW, Russia (AFP) — Russian President Vladimir Putin said Wednesday it was “impossible” to isolate Moscow and vowed to cut gas and oil deliveries to countries imposing a price cap on supplies. Speaking at an economic forum, over six months after Moscow sent troops into Ukraine, the Russian leader sought to pivot towards allies in Asia, the Middle East and Africa as his country faces a barrage of Western sanctions. “No matter how much […]
PARIS, France (AFP) — Russia has raked in a whopping 158 billion euros ($158 billion) in energy exports in the six months following its invasion of Ukraine, with the EU accounting for more than half, a think tank said Tuesday. The Centre for Research on Energy and Clean Air called for more effective sanctions against Moscow after the invasion sent oil, gas and coal prices soaring. “Surging fossil fuel prices mean that Russia’s current revenue […]
New York, United States (AFP) by Thomas URBAIN Capping the price of Russian oil, an approach G7 members said Friday they want to pursue “urgently,” would be an unprecedented move and one which some analysts say could backfire. – How would a cap work? – Russian oil would be purchased at a discount from prevailing market prices, to limit Moscow’s profits as it prosecutes its war against Ukraine; but it would keep the price […]
Gas prices to go up by P1.40 per liter; kerosene prices by P6.10 per liter (Eagle News) – Effective Tuesday, Aug. 30, another big oil price hike happens with diesel prices forecast to increase as much as P6.10 per liter. Gasoline prices are also forecast to go up between P1.20 to P1.40 per liter, according to various social media posts by petroleum companies. Kerosene prices will also go up by P6.10 per liter. -2nd […]
More than P1/liter hike for gasoline prices expected, says DOE official; tight world supply, high global demand cited (Eagle News) – An official of the Department of Energy said that prices of petroleum products would increase next week because of tight supply in the world market with the threat of Russian oil embargo and strong global demand. Assistant Director Rodela Romero of the DOE’s Oil Industry Management Bureau said that as of Friday, at […]
by Roland JACKSON Agence France Presse NEW YORK, United States (AFP) — European natural gas prices climbed Thursday towards a record peak on heightened fears over Russian supplies, while equities rose on the eve of a key speech from Federal Reserve Chair Jerome Powell. Europe’s benchmark Dutch TTF gas contract advanced to 322 euros per megawatt hour, not far from the record high 345 euros struck in March shortly after key gas producer […]
LONDON, United Kingdom (AFP) — World stocks mostly sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans to combat runaway inflation. Eurozone equities also tanked as spiking natural gas prices sparked fears that winter energy shortages could spark recession, helping push the euro back under parity against the greenback. Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused […]
HONG KONG, China (AFP) — Oil prices extended losses Tuesday after weak US and Chinese data reinforced recession expectations, though equities won support from hopes the figures will allow central banks to temper their pace of interest rate hikes. Stock traders tracked a Wall Street advance led by tech firms thanks to an increase in bets that the Federal Reserve will not lift borrowing costs by 75 basis points for a third straight meeting […]
Gasoline prices to have 10 centavo/liter rollback; diesel prices to be cut by P1.05/liter (Eagle News) – Oil companies will once again implement a price rollback of petroleum products effective Tuesday, August 16, but much lower than previous price cuts in the previous weeks. Gasoline products will be reduced by 10 centavos per liter, while diesel prices will have a bigger slash of P1.05 centavos per liter. Kerosene prices will be reduced by 45 centavos […]
MATANZAS, Cuba (AFP) — Helicopters and firefighters battled Tuesday to contain a days-old blaze at a fuel depot in Cuba that has already destroyed four tanks and was threatening four more. The fire, which started on Friday after lightning struck one of the tanks, left a 60-year-old firefighter dead and 14 colleagues missing, according to authorities. More than 100 people were reported injured, with 22 still hospitalized. About 5,000 people have been evacuated from around […]
