Oil prices head for weekly loss on Omicron coronavirus uncertainty
Oil prices dipped on Friday, putting the market on track for a narrow weekly loss, as surging cases of the Omicron coronavirus variant raised fears new curbs may hit fuel demand, while a weaker dollar supported commodity markets broadly.
Analysis: U.S. wants more oil, but OPEC+ can’t turn on the tap much harder
U.S. pressure on OPEC+ to pump more oil and cool red-hot crude prices has shone a spotlight on a relatively new problem for the producer group: it doesn’t have much extra capacity to hike output faster, even if it wanted to.
Global COVID-19 cases hit 250 million, eastern Europe infections at record levels
Global COVID-19 cases surpassed 250 million on Monday as some countries in eastern Europe experience record outbreaks, even as the Delta variant surge eases and many countries resume trade and tourism.
Erdogan says Turkey plans to buy more Russian defense systems
WASHINGTON, Sept 26 (Reuters) – President Tayyip Erdogan said Turkey still intended to buy a second batch of S-400 missile defense systems from Russia, a move that could deepen a rift with NATO ally Washington and trigger new U.S. sanctions. Washington says the S-400s pose a threat to its F-35 fighter jets and to NATO’s […]
Carlsberg raises guidance as beer volumes recover
Danish brewer Carlsberg (CARLb.CO) raised its full-year earnings guidance on Wednesday after reporting second-quarter sales above expectations as beer volumes exceeded pre-pandemic levels.
Record high aluminium prices likely to spur destocking
LONDON, Aug 16 (Reuters) – Record aluminium prices in the United States and Europe will be sustained by Russia’s mining tax for some months, but attempts to push prices even higher are likely to face headwinds from traders cashing in their stocks, analysts said.
Exclusive: IKEA’s malls arm branches out into housing with new centre in China
IKEA’s shopping malls business, one of the world’s biggest, has kicked off the sales process for some 500 flats at its first-ever mixed-use retail and residential development, in Changsha in southern China.
White House calls on America’s most critical companies to improve cyber defenses
The White House is signaling to U.S. critical infrastructure companies, such as energy providers that they must improve their cyber defenses because additional potential regulation is on the horizon.
Oreo maker sweetens sales outlook as emerging markets bounce back
Mondelez International Inc (MDLZ.O) raised its full-year organic revenue forecast on Tuesday, as more consumers snacked on the food giant’s Oreo cookies and Cadbury chocolates across emerging markets including Brazil and China.
Oil is in charge of half of the global economy!
Oil has long been the world’s most important commercial source of fuel, and many predict that it will continue to be so well into the next couple of years. After prices surged to two-and-a-half-year peaks mostly throughout the pandemic, the Opec cartel and partners like Russia will boost supplies starting in August. The move is […]
