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(Eagle News) –Oil prices are again forecast to increase next week, by at least P12 per liter for diesel and by P6.80 to P7 per liter for gasoline. “Expect fuel prices to go up next week,” the forecast from Unioil said posted on its Facebook page on Saturday, March 12. According to the forecast, diesel prices will increase by P12.20 to P12.30 per liter, while gasoline prices “will increase by P6.80 to P7.00 per liter” […]
HONG KONG, China (AFP) — Equity markets plunged Monday, while oil prices soared to a near 14-year high and safe-haven gold broke $2,000 as investors grew increasingly fearful about the impact of the Ukraine war on the global economy. Trading floors were a sea of red, while experts warned of a period of stagflation with the spike in crude likely to light a fire under already high inflation. The commodity at one point rocketed […]
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 […]
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
World oil prices on Thursday breached $100 for the first time in more than seven years, this time on supply fears after major producer Russia attacked Ukraine. European benchmark Brent North Sea crude surged more than eight percent to $105.79 per barrel — the highest level since 2014. US contract West Texas Intermediate reached $100.54 per barrel, also a peak last seen more than seven years ago. That capped a meteoric rise over almost two […]
Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine, sparking Western nations to ready economic sanctions against Moscow. After heavy falls at the open, European stocks edged into positive territory as the Kremlin said it remained open to all diplomatic contact over Ukraine. “The old adage goes that the market hates uncertainty and while that has clearly been evident at […]
COLOMBO, Sri Lanka (AFP) — Sri Lankan President Gotabaya Rajapaksa admitted his government is “not delivering” as shortages persist of food, medicines and other essential items because of a dire foreign exchange squeeze. “The people may have a sense of displeasure towards me and the government for not delivering as they expected,” Rajapaksa’s office quoted him as saying on Sunday. “I accept that. Not only me, but all ministers and Members of Parliament should accept […]
by Benoît PELEGRIN Agence France-Presse The coronavirus pandemic that has slammed oil demand and prices is forcing energy majors to tighten their belts on exploration, even if finding new deposits remain essential to their existence. While the sector is increasingly diversifying into greener energies such as electricity and wind power, its core business remains oil and gas. “Questions abound over whether it is still profitable to look for oil given subdued demand growth prospects and […]
LONDON, United Kingdom (AFP) — Benchmark oil contract Brent North Sea crude climbed back to $60 per barrel on Wednesday, with OPEC cutting output and on easing concerns over weak demand growth. Around 0940 GMT, Brent crude for delivery in March hit $60 for the first time in 3.5 weeks and was up 20 percent compared with two weeks ago, prior to an oil production cut by the Organization of the Petroleum Exporting Countries […]
(Eagle News)–Presidential Spokesperson Harry Roque on Saturday, Oct. 6, reiterated the government was exerting all efforts to address the rising prices in goods. Roque made the statement after the Philippine Statistics Authority reported inflation had reached 6.7 percent in September. “President Duterte signed Administrative Order (AO) No. 13 last month to streamline procedures on the importation of agricultural products, including rice,” Roque said. He said this will “lower the price of basic food products for […]
(Eagle News) — Senator Grace Poe on Thursday, May 24, said she and her colleagues in the committee on public services would hold a hearing on the “domino effect” of the Tax Reform for Acceleration and Inclusion law in Iloilo on Friday, May 25. “Kailangang isipin natin kung paano mapagagaan ang buhay ng ating mga kababayan lalo na sa probinsya dahil sa pagmahal ng kuryente, tubig at bilihin at ang nakaambang pagtaas ng pamasahe,” Poe […]
BEIJING, China (AFP) — Prices for goods at the factory gate in China jumped in March, the government said Wednesday, in a positive sign of strengthening demand for the world’s second-largest economy. The producer price index (PPI) rose 7.6 percent year-on-year in March, according to the National Bureau of Statistics, slightly beating economists’ expectations of a 7.5 percent increase in a Bloomberg News survey. Factory gate inflation “has eased,” NBS analyst Sheng Guoqing said in […]
