Russia Set to Step Up Actions to Tame Rampant Ruble Rally
Russia is racing to stem a rally in the ruble and is set to accelerate interest-rate cuts as the currency’s advance to a four-year high against the dollar damages government Continue Reading
U.S. intelligence document shows Russian naval blockade of Ukraine that has sparked food crisis
Newly declassified U.S. intelligence shows that a Russian naval blockade has halted maritime trade at Ukrainian ports, in what world leaders call a deliberate attack on the global food supply Continue Reading
Europe accepts Putin’s ruble payment system to avoid gas cutoffs
European energy companies appear to have bent to Russian President Vladimir Putin’s demand that they purchase natural gas using an elaborate new payment system, a concession that avoids more gas Continue Reading
Crude oil futures tick lower as uncertainty lingers over EU ban on Russian oil
Hungary holds up EU decision to ban Russian oil US dollar falls 1.05% on week US gasoline inventory draws provide support Crude oil futures were lower in mid-morning Asian trade Continue Reading
Oil drops on recession fears and China COVID curbs
IMF chief says she cannot rule out recession Beijing ramps up COVID quarantine German minister expects EU embargo on Russian oil ‘in days’ Coming up: API supply report, 2030 GMT Continue Reading
Oil Steady as Traders Shrug Off China Efforts to Protect Economy
Oil was little changed as Chinese efforts to cushion the impact of anti-virus lockdowns failed to reassure investors over the outlook for Asia’s top economy. West Texas Intermediate traded near Continue Reading
Oil Inventories Down to Dangerously Low Point
Only China appears to have a reasonable inventory cushion against the unexpected, according to a new BofA Global Research report. Crude oil inventories are down to a dangerously low point Continue Reading
IEA warns against energy crisis deepening fossil fuel reliance
The energy security crisis since Russia’s invasion of Ukraine must not lead to a deeper dependence on fossil fuels, International Energy (IEA) chief Fatih Birol said on Monday. The right Continue Reading
Egypt’s Bread Crisis Awakens Old Fears of Political Unrest
For decades, vendors sold subsidized Egyptian baladi bread for almost nothing in Al-Sayeda Zeinab market, a bustling hub for this city’s working class. One day last month, there was suddenly Continue Reading
Deadly hemorrhagic fever outbreak hits Iraq
Iraq is suffering from an unusually large wave of Crimean-Congo hemorrhagic fever, a tick-born virus with a fatality rate of up to 40 percent. Case numbers are significantly higher than Continue Reading