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LONDON, March 5, 2024 (AFP) – Bitcoin hit a record high above $69,000 Tuesday, buoyed by the world’s biggest cryptocurrency becoming more accessible for trading amid tightening supplies. Bitcoin reached $69,191.94, beating a record $68,991 struck in November 2021. The volatile asset later retreated to $67,442. Bitcoin has enjoyed an unbridled rise since the approval of a new type of investment indexed to the cryptocurrency. Since their approval on January 10 by US securities regulators, […]
NEW YORK, Dec 7, 2023 (AFP) – US oil prices finished below $70 a barrel for the first time since July on Wednesday on a mixed day for global equities, as traders pondered hopes for interest rate cuts from the European Central Bank and the US Federal Reserve. West Texas Intermediate oil for delivery in January fell 4.1 percent to finish at $69.38 a barrel. The drop came as markets eyed signs of weakening demand […]
LONDON, July 3, 2023 (AFP) – Oil prices rose Monday after key producers Saudi Arabia and Russia further cut crude output in a bid to protect their precious revenues. Brent crude, the international benchmark, and US counterpart WTI jumped after Riyadh extended a voluntary oil production cut of one million barrels per day, while Moscow — whose invasion of Ukraine last year sparked oil market turmoil — said it was slashing exports by 500,000 bpd. […]
HONG KONG, China (AFP) — Oil prices soared almost six percent in Asian trade Monday morning after major producers led by Saudi Arabia announced a surprise cut of more than one million barrels per day. The West Texas Intermediate contract jumped 5.74 percent to $80.01 a barrel, while Brent jumped 5.67 percent to $84.42. The move by Saudi Arabia, Iraq, UAE, Kuwait, Algeria and Oman will be in effect from next month until the end […]
But NCR inflation up to 5.7 percent in August, from 5.1 percent in July 2022 (Eagle News) – After five straight months of acceleration, headline inflation in the Philippines eased to 6.3 percent in August 2022, according to the Philippine Statistics Authority (PSA). The PSA explained the slowdown in inflation at the national level in August 2022 was primarily due to lower annual increment in the index for transport, food and non-alcoholic beverages, and information […]
by Roland JACKSON / Véronique DUPONT Agence France-Presse LONDON, United Kingdom (AFP) — Britain announced Friday a vast 80-percent hike in electricity and gas bills, in a dramatic worsening of the cost-of-living crisis before winter as the UK awaits a new leader. Regulator Ofgem said its energy price cap, which sets prices for consumers who are not on a fixed deal with their supplier, will in October increase to an average £3,549 ($4,197) per year […]
PARIS, France (AFP) — World food prices fell sharply in July, partly thanks to a deal between Ukraine and Russia lifting a sea blockade that had stopped Ukrainian grain shipments, a UN agency said Friday. Food prices soared to a record high in March after Russia invaded Ukraine, raising fears that the conflict between two of the world’s breadbaskets would spark hunger in countries relying on their exports. While prices remain high, they have […]
Second straight week of big price rollback caused by tumble in world crude prices (Eagle News) — Another big price rollback will take effect on Tuesday, July 19, with gasoline prices to go down by P5 per liter, and diesel prices by P2 per liter. In separate advisories, various oil companies announced the big-time price rollback which happens for the second straight week. Last Tuesday, July 12, gas prices were slashed by P5.70 per liter, […]
(Eagle News) – Because of retreating oil prices in the world market, Philippine oil companies are expected to also lower their oil prices next week. An oil price rollback looms with gasoline prices forecast to go down by P2.50 to P2.70 per liter, while diesel prices would decrease by around P2 per liter, based on industry estimates. Kerosene prices are also expected to go down. But the decrease in prices could be higher […]
by John BIERS Agence France Presse Citing the need to counteract the “Putin price hike” following Russia’s invasion of Ukraine, President Biden has announced a sweeping plan to make unprecedented use of US emergency oil stockpiles. Under Biden’s plan, the United States will release up to a million barrels a day every day for six months from its Strategic Petroleum Reserve (SPR). On Friday, the International Energy Agency announced that a group of 30 […]
HONG KONG, China (AFP) — Equities fell Friday after their worst quarter since the early days of the pandemic as traders assess the impact of the war in Ukraine and the Federal Reserve’s plans to fight surging inflation by ramping up interest rates. Oil fell further following a plunge Thursday in response to news that the United States would release a million barrels a day from its reserves as it looks to rein in […]
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 […]
