global-economy
Top StoriesOil Rises on Saudi Oil Production Expectations
TradingExplainer-Why the Euro’s Fall Below Parity Versus Dollar Matters
Top StoriesIea Says Oil Market Walking Tightrope Due to Economic, Supply Risks
Top StoriesOil Steadies as China Covid Fears Face Tight Supply Concerns
Oil Heads for Weekly Loss as Recession Fears Trump Tight Supply
Date: July 8, 2022
By Alex Lawler LONDON (Reuters) -Oil rose in volatile trade on Friday but was still heading for a weekly decline as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle growth, while mass COVID-19 testing in...
Oil up Nearly $5 as Tight Supply Outweighs Recession Fears
Date: July 7, 2022
By Noah Browning LONDON (Reuters) -Oil prices rose steeply on Thursday after sharp losses in the previous two sessions, as investors returned their focus to tight supply even as fears of a global recession persisted. Brent crude futures were up $4.68, or 4.7%, at $105.37 a barrel by 1400 GMT. WTI crude futures climbed $5.11,...
Global Markets Steady but Recession Fears Remain
Date: July 6, 2022
By Tom Wilson, Sam Byford and Tom Westbrook LONDON/SINGAPORE/TOKYO (Reuters) – Tentative calm returned to global markets on Wednesday, with the euro steadying after dropping to a two-decade low and oil back above $100 a barrel following a near 10% plunge a day earlier. The single currency traded at $1.025, a fraction above its weakest...
Oil up About $2/bbl as Supply Outages Outweigh Recession Fears
Date: July 1, 2022
By Laila Kearney NEW YORK (Reuters) -Oil prices rose about $2 a barrel on Friday, recouping most of the previous session’s declines, as supply outages in Libya and expected shutdowns in Norway outweighed expectations that an economic slowdown could dent demand. Brent crude futures were up $1.81, or 1.7%, at $110.84 a barrel by 11:07...
Fitch Cuts View on Global Sovereign Debt
Date: June 30, 2022
By Marc Jones LONDON (Reuters) – Credit rating agency Fitch downgraded its view on sovereign debt on Thursday on concerns about the rise in global borrowing costs and the potential for a flurry of new defaults. Fitch, which monitors over 100 countries, said the Ukraine-Russia war was stoking problems such as higher inflation, trade disruptions...
Global Energy Consumption Topped Pre-Pandemic Levels in 2021, Says Bp
Date: June 28, 2022
By Ron Bousso LONDON (Reuters) – Global energy consumption rose by 5.8% in 2021, exceeding pre-pandemic levels as economies revved up activity, while strong growth in renewable energies chipped away at fossil fuel use, according to a benchmark report by BP. Oil demand last year was 3.7 million barrels per day (bpd) below 2019 levels,...