Oil slides on release of strategic reserves and China lockdowns
Oil prices dropped by more than $2 a barrel on Monday after a second straight weekly decline on plans to release record volumes of crude and oil products from strategic Continue Reading
Oil Slumps as China’s Worsening Outbreak Raises Demand Concerns
Oil resumed its decline as China’s virus resurgence worsened, raising concerns about demand from the world’s biggest crude importer. West Texas Intermediate futures slid below $96 a barrel. Virus cases Continue Reading
Rising Food Costs Push Arab World’s Vulnerable to Breaking Point
Seated around the dining table, the family of four stares blankly at pictures of food sketched on the tablecloth. “Tonight,” the father says, “we’re coloring for dinner.” The scene in Continue Reading
China’s Covid Outbreak Worsens as Shanghai Cases Top 26,000
China is defending its Zero-Covid strategy as the U.S. asks Americans to reconsider travel to China. Bloomberg News China’s largest Covid-19 outbreak in two years continues to spread despite an Continue Reading
Japan tops up LNG reserves as possible Russian gas cutoff looms -source
Japan’s government has asked power companies to top up their liquefied natural gas (LNG) reserves and share energy resources, a person familiar with the contingency plan said, as civilian deaths Continue Reading
Shanghai Eases Lockdown for 43% of City’s Housing Complexes
Shanghai eased a lockdown for 43% of its housing complexes, a sign the financial hub is tentatively exiting an unprecedented disruption that strained the economy and wrought havoc on residents’ Continue Reading
China Port Congestion Worsens as 477 Bulk Ships Waiting to Berth
Bulk carrier positions as of April 11 mapped in yellow Dotting the sea off Chinese ports are 477 bulk cargo ships waiting to deliver resources from metal ore to grain Continue Reading
Guangzhou closes to most arrivals as China’s outbreak grows
The manufacturing hub of Guangzhou closed itself to most arrivals Monday as China battles a major COVID-19 surge in its big eastern cities. Shanghai has taken the brunt of the Continue Reading
China Inflation Rises as Lockdowns, Ukraine War Drive Up Prices
Inflation in China picked up in March as soaring global commodity prices and lockdowns in major cities drove up prices for consumers and businesses. The overall inflationary picture in China Continue Reading
Plants in China reduce April throughput
Chinese refineries will slash throughput in April and lift oil product exports from initial plans to compensate for falling domestic demand due to COVID-19 lockdowns. As a result, 10 refiners Continue Reading