Tag Archives: prices

The Biden administration’s new sanctions target Russia’s oil giants Gazprom Neft and Surgutneftegas, shadow fleet vessels, and opaque traders. Oil prices surged, while European equities slid as investors fear tighter global supply. ADVERTISEMENT The Biden administration unveiled Friday sweeping sanctions targeting Russia’s oil sector, shaking global energy markets and deepening the economic isolation of Moscow just ten days before Donald …

European stock markets outperformed their global counterparties this week, driven by the energy sector’s strong gains. ADVERTISEMENT Global stock markets are mixed this week with Wall Street on a retreat, and the European equities broadly higher. While surging government bond yields weighed down the US stock markets, rising energy and metal prices have buoyed the European counterparties. However, currencies moved …

Crude oil prices rose to a three-week high amid mounting concerns over supply disruptions and increasing demands. However, technical analysts caution that oil markets may be over-bought. ADVERTISEMENT Crude oil prices extended gains in the Asian session on Wednesday, with the Brent futures up 0.35% to $77.32 per barrel, and the WTI futures rising 0.50% to $74.61 per barrel at …

European natural gas futures climbed the highest since October 2023 after Russian gas flows to Europe via Ukraine stopped on New Year’s Day. ADVERTISEMENT The price of the Dutch TTF, the benchmark European natural gas climbed by more than 4% to €51 per megawatt-hour, its highest level since October 2023, before easing a little, on the first trading day after …

President Bola Tinubu has announced the creation of a new company he hopes will bring down the price of food and promote local manufacturing of essential drugs and other medical supplies. In his new year message, Tinubu disclosed the establishment of a National Credit Guarantee Company and asked states to key into the federal government’s Compressed National Gas, CNG, programme …

Construction cannot keep up with the booming demand in most countries pushing prices up almost everywhere except for China and France. ADVERTISEMENT Global house prices are expected to rise in the next two years, according to Fitch Ratings. “Nominal home prices will grow in the low to mid-single digits for most countries in each of the next two years,” read …

“It’s an absolutely sh*t situation,” said Norway’s energy minister Terje Aasland cited by FT, reacting to electricity prices in the country that are six times that of the EU average these days. ADVERTISEMENT The two ruling parties in Norway are pledging to campaign to cut the two power interconnectors that link the country with Denmark, when they come up for …

Crude oil prices retreated from Monday’s gains amid weak demand outlooks, following disappointing Chinese international trade data for November. ADVERTISEMENT Crude oil prices slid following disappointing China’s international trade data in the Asian session on Tuesday. At 6 am CET, Brent futures were down 0.37% to $71.9 per barrel, and the WTI futures slipped 0.45% to $68.06 per barrel. The …

Northern Ireland continued to experience the strongest gains, mainly due to increasingly competitive mortgage rates. ADVERTISEMENT The year-on-year UK Halifax House Price Index for November was released on Friday, coming in at 4.8%, which was the highest in two years, according to Halifax and Bank of Scotland. This was in contrast with October’s 4%, as well as market expectations of …

There are growing concerns about the crop in Brazil and Vietnam, the world’s biggest coffee producers. ADVERTISEMENT Coffee prices have hit a 47-year high.  That is as a result of commodity market futures (contracts to buy or sell in the future at a given price) for the Arabica coffee recently reaching $3.35 per ounce (453 grams). That is 70% more …