Global oil markets are bracing for another wild week after the United States launched direct strikes on Iranian territory over the weekend, raising fears of a retaliatory escalation that could threaten vital energy infrastructure and shipping lanes in the Middle East. Prices spiked to their highest levels in five months in early trading on Monday…
By Andrea Shalal WASHINGTON (Reuters) -Major geopolitical risk events, including trade tensions, can trigger large corrections in stock prices, the International Monetary Fund said in a report on Monday. That in turn can generate market volatility which can threaten financial stability, it said in a chapter from its forthcoming Global Financial Stability Report. The IMF…
Crude oil prices extended their gains today and were set to end the week higher after Russia shot a new kind of ballistic missile at Ukraine in the latest sign that the escalation there continues. The strike, featuring a hypersonic medium-range missile that has not been used before in warfare, came in response to a…
Oil prices took the bumpy road upwards today, proving once again that global crude markets lack stability. West Texas Intermediate (WTI) climbed to $70.17 per barrel, up a decent $1.42 (2.07%) from yesterday’s close, while Brent crude cruised to $74.29, up $1.48 (2.03%). Today’s culprit? The ever-escalating Russia-Ukraine conflict. Oil traders are once again pricing…
South Korean battery major LG Energy Solution has reported a 40% drop in third-quarter profits, resulting from slowing demand for battery cars. The figure that the company reported, at about $323 million, was higher than analysts had forecast, but it was 40% lower than the profit figure for the third quarter of 2023. “Competition in…
Oil held steady after a day of choppy trading as US crude inventories swelled and traders monitored China’s plans for fiscal policy. West Texas Intermediate edged lower to close at $73.24 a barrel after earlier falling as much as 2.8%. Brent settled below $77 a barrel. Both benchmarks plunged 4.6% on Tuesday amid a broader…