In This Story Last week closed on a positive note , with two key developments easing concerns about the economy. A strong jobs report helped calm fears of a weakening labor market, while the resolution of the dockworkers’ strike alleviated worries about supply chain disruptions. In addition, oil prices, which had surged early in the […]
Dubai: President Joe Biden said on Wednesday he is in discussions regarding possible Israeli strikes on Iranian oil facilities, a comment that caused oil prices to spike by five per cent on Thursday, just a month before the US presidential election. Biden assured reporters that he does not expect Israel to retaliate against Iran for
Oil prices ticked higher in early trade on Thursday as investors weighed the escalating conflict in the Middle East and the potential for disruption to crude flows, against an amply-supplied global market. Brent crude futures increased 64 cents, or 0.87%, to $74.54 a barrel as of 0006 GMT. U.S. West Texas Intermediate crude futures gained
Oil rises as Middle East conflict deepens Read More »
West Texas Intermediate (WTI) crude climbed over 5%, exceeding $71 per barrel after an earlier decline of 2.7%. Meanwhile, Brent crude, the international benchmark, rose above $75 per barrel. Crude oil prices surged by 5% on Tuesday following Iran’s missile strikes on Israel, sparking concerns of a potential regional conflict in the Middle East. West
Crude oil prices surge 5% following Iranian missile attacks on Israel Read More »
Egypt’s Prime Minister Mostafa Madbouly chaired a government meeting on Wednesday, at the Cabinet headquarters in the New Administrative Capital. Madbouly stated that the rapid developments in the region created an exceptional circumstance that impacted the economic conditions of several countries, including Egypt. This is evident through rising oil prices and the significant effect on
Rapid regional developments impact economy: Prime Minister Read More »
Motorists can expect relief at the fuel pumps in October, with the price of all grades of petrol and diesel set to decrease from Wednesday Motorists can expect relief at the fuel pumps in October, with the price of all grades of petrol and diesel set to decrease from Wednesday, according to the latest monthly
Petrol prices set to decrease by R1.14 from Wednesday Read More »
By Irina Slav – Sep 26, 2024, 3:00 AM CDT Calls for a ceasefire in the Middle East conflict are raising expectations of lower oil prices. Saudi Arabia may be willing to raise production and lower its oil price target, adding to market bearishness. The resumption of oil exports from Libya is putting further downward
Oil Prices Dip on Talks of a Middle East Ceasefire Read More »
A trader works on the trading floor of the New York Stock Exchange (NYSE) in New York, the United States, on Aug. 21, 2024. (Xinhua/Liu Yanan) The recent steep fall in oil prices, and the easing of global food prices could place further downward pressure on headline inflation in the short-term, according to OECD. PARIS,
Global economic growth stabilizes at 3.2 pct in 2024, 2025: OECD Read More »
By Charles Kennedy – Sep 23, 2024, 10:00 AM CDT Iraq’s heavy reliance on oil revenue makes its budget vulnerable to oil price fluctuations. The government is exploring non-oil income sources to increase budget predictability. New oil and gas contracts aim to attract investment and boost the energy sector. OPEC’s second-largest oil producer, Iraq, is
Volatile Oil Prices Force Iraq to Explore Alternative Revenue Streams Read More »
It may result in a rebound in Eurobond issuance and more capital flows to emerging markets, as well as stoke gold, platinum group metals and oil prices… https://www.dailymaverick.co.za/article/2024-09-15-interest-rate-cut-in-us-will-change-worlds-economic-landscape/
FEDERAL RESERVE: Expected US interest rate cut will change global economic landscape Read More »
