(Reuters) – Oil prices were little changed on Friday but were set for a weekly rise amid optimism economic stimulus efforts will prompt a recovery in China, the world’s biggest oil importer. Brent crude futures fell 1 cent to $73.25 a barrel by 0145 GMT. U.S. West Texas Intermediate crude was at $69.60, down 2…
Oil pumping jacks, also known as “nodding donkeys”, operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. Andrey Rudakov | Bloomberg via Getty Images Oil prices were mixed on Friday following a potential renewal of supply risk as Israel and Hezbollah traded accusations of ceasefire violations, and as a delay to…
Refinery run rates in China fell for the seventh month in a row in October, shedding 4.6% on an annual basis, data from the country’s statistics agency showed, as quoted by Reuters. As a result of the series of monthly declines, average refinery run rates for the first ten months of the year booked a…
Oct 29 – China is considering approving next week the issuance of over 10 trillion yuan in extra debt in the next few years to revive its fragile economy, two sources with knowledge of the matter said. The fiscal package is expected to be further bolstered if Donald Trump wins the Nov. 5 presidential election,…
Aerial view of the construction site of a petroleum products storage facility belonging to Brightoil Petroleum (Holdings) Limited on Waidiao Island on August 8, 2022 in Zhoushan, Zhejiang Province of China. VCG | Visual China Group | Getty Images Oil prices edged higher on Thursday, recouping some of the more than 1% losses from the previous…
The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving China’s somewhat disappointing weekend stimulus announcements the focus of market attention. Alfexe | Istock | Getty Images The dollar extended its gains in early Monday trades in Asia as a holiday in Japan sapped liquidity, leaving…
By Rae Wee SINGAPORE (Reuters) – Asian stocks hardly budged in early holiday-thinned trade on Monday, with investors nervous as to how markets in mainland China would react to government economic stimulus promises over the weekend which, though broad, were light on detail. Minister of Finance Lan Foan pledged to “significantly increase” debt, but left…
Chinese eCommerce giant Alibaba (BABA, has been on a superb run over the past six months, gaining upwards of 49% in value. After a sluggish phase from late 2020 through 2023, Alibaba stock is finally hitting its stride, showcasing healthy momentum as it climbs back to its pre-pandemic highs. Naturally, with its impressive rally, many…
Mainland China stocks plunged on Wednesday and were poised to snap a 10-day winning streak after officials failed to inspire confidence in stimulus plans intended to revive the economy. Wednesday’s moves were a reversal from those seen the day before, after mainland Chinese stocks returned from a week-long holiday with a bang while those in…
(Bloomberg) — Mainland Chinese equities led losses in the region on Wednesday after weak economic data and as Beijing refused to commit to more economic stimulus. Most Read from Bloomberg The benchmark CSI 300 Index fell as much as 5.1% within minutes of opening, but pared some of its losses. That erased a lot of…