global-economy
Top StoriesOil Heads for Weekly Loss on Rate Hike Worries, Ample Supply
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World Food Prices Hit Record High in 2022
Date: January 6, 2023
By Sybille de La Hamaide PARIS (Reuters) -A surge in the cost of most food commodities last year, as the disruption caused by Russia’s invasion of Ukraine raised concerns of shortages, sent the U.N. food agency’s average price index to the highest level on record. The Food and Agriculture Organization’s (FAO) food price index, which...
How 2022 Shocked, Rocked and Rolled Global Markets
Date: December 30, 2022
By Marc Jones LONDON (Reuters) – Trillions of dollars wiped off world stocks, bond market tantrums, whip-sawing currency and commodities and the collapse of a few crypto empires – 2022 has been perhaps the most turbulent year investors have ever seen, and for good reason. Tallying the final numbers is useful but doesn’t even come...
Oil Set to End Turbulent 2022 Modestly Higher
Date: December 30, 2022
By Florence Tan and Emily Chow SINGAPORE (Reuters) – Oil prices edged up on Friday and were on track to post their second straight annual gains, albeit modest, in a stormy year marked by tight supplies due to the Ukraine war, a strong dollar and weakening demand from the world’s top crude importer China. Brent...
Oil Hits 3-week High as China Eases Covid Curbs
Date: December 27, 2022
By Alex Lawler LONDON (Reuters) -Oil hit a three-week high on Tuesday as China’s latest easing of COVID-19 restrictions spurred hopes of a demand recovery, although prices pared gains after some U.S. energy facilities shut by winter storms began to restart. China will stop requiring inbound travellers to go into quarantine, starting from Jan. 8,...
Food Inflation: Tight Grain, Oilseed Supplies to Keep Prices Elevated
Date: December 13, 2022
By Naveen Thukral SINGAPORE (Reuters) – Drought or too much rain, the war in Ukraine and high energy costs look set to curb global farm production again next year, tightening supplies, even as high prices encourage farmers to boost planting. Production of staples such as rice and wheat is unlikely to replenish depleted inventories, at...
Shares Slip, Yields Rise as U.S. Data Sparks Rate Hike Concerns
Date: December 5, 2022
By Herbert Lash and Elizabeth Howcroft NEW YORK/LONDON (Reuters) -Global stocks slid and Treasury yields rose on Monday as investors ignored an easing of China’s pandemic restrictions that have weighed on global growth after fresh evidence of a strong U.S. economy raised fears interest rates will stay higher for longer. U.S. services industry activity unexpectedly...