global-economy
Top StoriesGlobal Energy Consumption Topped Pre-Pandemic Levels in 2021, Says Bp
Top StoriesCopper Steadies, but Recession Fears Dominate Mood
InvestingWall Street Puts Floor Under Stocks, Crude Steadies
InvestingOil Rebounds as Investors Assess Recession Risks
Stocks and Oil Tumble as Recession Fears Mount
Date: June 22, 2022
By Marc Jones LONDON (Reuters) – World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar. The enthusiasm that had given Wall Street its best day in...
Explainer-Why Is There a Worldwide Oil-Refining Crunch?
Date: June 22, 2022
By Laura Sanicola (Reuters) – Drivers around the world are feeling pain at the pump with fuel prices soaring, and costs are surging for heating buildings, power generation and industrial production. Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since mid-March, fuel costs have surged while crude prices are up only...
Ericsson Expects 5G Subscriptions to Cross 1 Billion in 2022
Date: June 21, 2022
By Supantha Mukherjee STOCKHOLM (Reuters) – Swedish telecom equipment maker Ericsson said on Tuesday it expects global 5G mobile subscriptions to surpass 1 billion in 2022, helped by higher adoption in China and North America. A weaker global economy and the uncertainties caused by Russia’s invasion of Ukraine lowered its estimate for 2022 by around...
Oil Prices Fall as Recession Fears Trump Tight Supply
Date: June 20, 2022
By Rowena Edwards LONDON (Reuters) -Oil prices fell on Monday, continuing last week’s losses as concerns about slowing global economic growth overshadowed tight supply. Brent crude futures were down 50 cents, or 0.44%, at $112.62 a barrel by 1429 GMT. Front-month prices tumbled 7.3% last week for their first weekly fall in five. U.S. West...
Air Freight Demand Begins to Wane Amid Global Economic Shocks
Date: June 20, 2022
DUBAI (Reuters) – The strong air cargo demand that has helped passenger-deprived airlines stay afloat over the past two years is showing signs of softening amid decades-high inflation that is pushing up costs. The Baltic Air Freight Index, which shows weekly transactional rates for general cargo, fell 8.7% last week, while the airlines group IATA...
Oil Slumps 5% on Recession Worries, Strong U.S. Dollar
Date: June 17, 2022
By Scott DiSavino NEW YORK (Reuters) – Oil prices tumbled about 5% on Friday to four-week low, on worries that interest rate hikes from major central banks could slow the global economy and cut demand for energy. Also pressuring prices, the U.S. dollar this week rose to its highest since December 2002 against a basket...