Oil prices are set to surge further this week due to delays to the conclusion of Iranian nuclear talks and the potential return of Iranian crude to global markets, which are already suffering from Russian supply disruptions, analysts said.
Oil prices soared more than 6%, touching their highest since 2008 on Monday after the United States and European allies mull a Russian oil import ban while delays in the potential return of Iranian crude to global markets fuelled tight supply fears.
Oil prices spiked to their highest levels since 2008 on Monday as the United States and European allies weighed a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled supply fears.
Oil prices spiked to their highest levels since 2008 on Monday amid market supply fears as the United States and European allies considered banning Russian oil imports and prospects for a swift return of Iranian crude to global markets receded.
It took one electricity bill to crush Dimitris Diavatis' hopes that his Greek summer resort could bounce back to its pre-pandemic health this year, even with bookings pouring in.
South Korea will implement export controls against Belarus for "effectively supporting the Russian invasion of Ukraine", Seoul's foreign ministry said on Sunday.
China will spend 7.1% more on defence this year, outpacing last year's spending hike and the government's modest economic growth forecast as Premier Li Keqiang seeks to safeguard the country's sovereignty, security and development interests.
China will spend 7.1% more on defence this year, outpacing last year's hike and the government's modest economic growth forecast as Premier Li Keqiang seeks to safeguard the country's sovereignty, security and development interests.
Speculators' net long positioning in the U.S. dollar dropped in the latest week to the lowest level since mid-August 2021, according to calculations by Reuters and U.S.
Geopolitical worries are clouding the outlook for U.S.
In the two years since the COVID-19 pandemic upended the U.S.
Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw.
U.S. Treasury Secretary Janet Yellen said on Friday the Biden administration's economic agenda will not only expand the productive capacity of the U.S.
It was just a hint of something good on the horizon, Richmond Federal Reserve President Thomas Barkin said this week, but in his recent conversations with business officials they have been suddenly upbeat about the number of applicants for open jobs.
Russia's invasion of Ukraine, one of the world's breadbasket nations, has driven wheat prices to 14-year highs, forcing bread consumers to eat the cost.
Swiss wealth manager Julius Baer has halted any new business with wealthy Russians, two sources familiar with the bank's operations said, as European lenders try to limit their exposure to Russia's elite amidst tightening sanctions.
Palladium extended its rally to near a 10-month high within striking distance of $3,000 an ounce on Friday, as concerns over supply shortages from top-producer Russia mounted and the war in Ukraine bolstered demand for safe-haven gold.
U.S. and European economies are facing a heightened risk of a recession this year as Russia's invasion of Ukraine severely disrupts supply chains and causes inflation to accelerate to the fastest rate since the 1970s.
U.S. and European economies are facing a heightened risk of a recession this year as Russia's invasion of Ukraine severely disrupts supply chains and causes inflation to accelerate to the fastest rate since the 1970s.
European Union officials are examining curbing Russia's influence and access to finance at the International Monetary Fund following its invasion of Ukraine, six officials told Reuters.
Palladium extended gains on Friday, breaking above $2,800 an ounce mark en route to its biggest weekly gains in two years as concerns grew about supply shortfalls from Russia, while the war in Ukraine kept safe haven gold on firm ground.
Wall Street's main indexes fell in a broad decline on Friday as the intensifying war in Ukraine overshadowed an acceleration in jobs growth last month that highlighted the strength of the U.S.
Wall Street's main indexes lost more than 1% on Friday as concerns over the intensifying war in Ukraine overshadowed data that showed an acceleration in jobs growth last month.
Wall Street's main indexes were set to fall on Friday as concerns over the intensifying war in Ukraine overshadowed data that showed an acceleration in jobs growth last month.
Textile and leather goods' makers in Istanbul's garment district are feeling the impact of Russia's invasion of Ukraine as customers in Moscow and Kyiv have cancelled $200 million in orders in the past week, industry officials say.
Russia said it would block Facebook for blocking state media and Britain's BBC stopped reporting in the country in the face of a new media law as Moscow on Friday raised the stakes for foreign corporations over its attack on Ukraine.
Palladium extended gains on Friday, breaking above $2,800 an ounce mark en route to its best week in two years as concerns grew about supply shortfalls from Russia, while the war in Ukraine kept safe-haven gold on firm ground.
Sri Lanka's central bank sharply raised interest rates on Friday to staunch growing inflationary pressures and urged the government to consider measures including curbing non-essential imports and raising fuel prices to reduce pressure on the ailing economy.
Indika Prasanna Kumara ventures out every afternoon to try to find 200 litres of diesel for the Broadway Kids apparel factory in Sri Lanka so it can run its generators during power cuts and keep working.
Japan's economy expanded more than initially expected in the final quarter of 2021, but rising input prices likely kept wholesale inflation near a record in February in a sign of rising risks to the fragile recovery, a Reuters poll showed.
