Source link Kiev’s top diplomat has suggested the US and other donors need to give more military aid to stop attacks on Russian refineries Kiev would be more receptive to appeals from the US and other Western allies to quit attacking Russian oil infrastructure if those benefactors would boost their military aid, Ukraine’s top diplomat […]
Source link The price of the oil benchmark Brent peaked at $89 per barrel on Tuesday, nearing levels last seen in June 2022, according to Intercontinental Exchange (ICE) data. Industry experts have attributed the surge to an Israeli airstrike on the Iranian consulate in Damascus and Tehran’s threat of retaliation. Brent futures had risen by […]
Source link The commodity broke above the $10,000-per-metric-ton mark on Tuesday for the first time ever The price of cocoa beans surged to an all-time high on Tuesday, amid supply constraints in West Africa, which produces about 70% of the crop globally. Benchmark cocoa futures for May delivery on the Intercontinental Exchange (ICE) in New […]
Source link Crude prices soared to $86 per barrel on Monday, hitting a four-month high, with industry experts attributing the surge to China’s strong economic data and Ukraine’s drone attacks on Russian oil refineries. Global benchmark Brent futures have risen by 4% since last week to trade at $86 per barrel as of 9:45 GMT, […]
Source link The Competition and Markets Authority has announced a full-scale investigation into the rising costs Britain’s Competition and Markets Authority (CMA) announced this week that it was launching an investigation into rising prices on infant formula in an effort to contain the cost-of-living crisis. The decision to scrutinize formula makers follows an earlier report […]
Source link Austria’s plans to end a long-term contract for Russian gas would cause energy prices to “explode” and would fuel inflation in the country, Axel Kassegger, a member of the Freedom Party of Austria, has warned. On Monday, Austrian Energy Minister Leonore Gewessler urged for radical steps to be taken to cut the country’s […]
Source link The price of cocoa beans has soared to an all-time high due to low harvests caused by droughts in West Africa, which produces the majority of global supply. Benchmark cocoa futures for March delivery on the Intercontinental Exchange (ICE) in New York briefly spiked above $6,000 per metric ton in intraday trading on […]
Source link The inflation rate in the South American country is among the highest in the world Argentina’s traditional asado barbecue is no longer affordable for many households due to soaring meat and vegetable prices, according to a Reuters report this week. The word ‘asado’, which is derived from the Spanish word for ‘roasted’, refers […]
Source link Washington and London have retaliated against Houthi attacks on ships passing through the Red Sea Crude oil prices have gained more than 2% on Friday after the US and UK carried out a series of strikes on Houthi targets in Yemen in response to the latter’s attacks on ships traversing the Red Sea. […]
Source link Demand has spiked due to Western efforts to arm Kiev, the Swedish military chief of staff has said The deficit of ammunition in Europe has led to inflated prices as Western nations scramble to support Ukraine in its fight against Russia, the chief of staff of the Swedish Armed Forces has said. Speaking […]
Source link Cuba will end state subsidies to tackle the economic crisis it blames on the US embargo The Cuban government will hike gasoline and diesel prices on the island by 500% effective February 1, as part of a set of measures aimed at reducing the country’s large budget deficit. Fuel in Cuba has been […]
Source link Saudi Arabia’s action aims to support the market amid a seasonal drop in demand and concerns about supply overhang Major oil producer Saudi Arabia has cut the February price of crude for buyers in all regions, Reuters and Bloomberg reported on Sunday, citing a company statement. According to the reports, state producer Saudi […]
Source link Prolonged disruption in the Red Sea could eventually have a major impact on energy markets Global prices for crude oil will double if disruptions triggered by Yemen’s Houthi rebels also affect the Strait of Hormuz, Daan Struyven, Goldman Sachs’ head of oil research, said on Saturday in an interview with CNBC. The Houthis […]
Source link Natural gas prices in Western Europe rose more than 8% on Wednesday, according to data from the London Intercontinental Exchange (ICE). The cost of gas futures for July delivery at the Title Transfer Facility (TTF) hub in the Netherlands saw an increase by 8.4% to $429.8 per thousand cubic meters, or €37.055 per […]
Source link Prices for cocoa soared to their highest level in nearly half a century this week amid declining global supply, according to trading data. New York futures for the key chocolate-making ingredient rose above $4,200 per metric ton, the highest price for the commodity since September 1977, surpassing the 2011 peak that resulted from […]