ECONOMY & MARKETS

By Mohi NarayanNEW DELHI - Crude prices declined in volatile trading on Thursday as investors assessed the potential for new supply in tight markets amid prospects of a new Iran deal.

St. Louis Federal Reserve Bank President James Bullard on Wednesday said U.S.

Cuba's government said on Wednesday a spike in demand for fuel, caused in part by the failure of the country's largest power plant last week, had led to fuel shortfalls at service stations nationwide, prompting hours-long queues for gasoline.

The United States has no plans to renegotiate a quota agreement forged by South Korea and the former Trump administration, U.S.

Sales of new U.S. single-family homes unexpectedly fell in February amid rising mortgage rates and higher house prices, which are squeezing out some first-time buyers from the market.

Sales of new U.S. single-family homes unexpectedly fell in February amid rising mortgage rates and higher house prices, which are reducing affordability for some first-time buyers.

Federal Reserve policymakers on Wednesday signaled they stand ready to take more aggressive action to bring down unacceptably high inflation, including a possible half-percentage-point interest rate hike at the next policy meeting in May.

Saipem core investors Eni and CDP together with a pool of banks are ready to advance 1.5 billion euros of an overall 2 billion euro capital increase to rescue the troubled Italian energy service group, two sources said.

U.S. stocks fell sharply on Wednesday as Moscow planned to switch its natural gas sales to some countries to roubles and oil prices jumped, while shares of Adobe fell following a disappointing outlook.

All three major U.S. stock indexes ended more than 1% lower on Wednesday as oil prices jumped and Western leaders began gathering in Brussels to plan more measures to pressure Russia to halt its conflict in Ukraine.

"The longer the war goes on, the greater the chance of an economic recession," the chief executive of commodity trader Vitol said on Tuesday at a business leaders' conference organised by the Financial Times.

A Dutch court on Wednesday rejected a suit against Shell brought by four widows of activists who were executed by the Nigerian government in 1995 after they protested against the oil's company's exploitation of the Niger Delta.

Europe will end its energy dependence on Russia but to do so from one day to the next would plunge it into a recession, risking hundreds of thousands of jobs and entire industrial sectors, German Chancellor Olaf Scholz said on Wednesday.

Canada on Thursday will outline plans to increase oil exports to help alleviate the tight global market following Russia's invasion of Ukraine, but the hike will not undermine Ottawa's long-term climate commitments, a government source said.

U.S. President Joe Biden has few appealing policy options to get record high U.S.

U.S. President Joe Biden has few appealing policy options to get record high U.S.

Swings in asset prices following Russia's invasion of Ukraine could hit first-quarter profits at big U.S.

Many Indians are cutting down on fried food and even vegetables as the Ukraine war inflates the prices of items from edible oils to fuel, threatening a sputtering recovery in the consumption-based economy after two years battling COVID-19.

Germany's EnBW will avoid any new energy supply deals with Russia for as long as Vladimir Putin is its president, the utility's chief executive said in response to Moscow's ongoing invasion of Ukraine.

British inflation shot up faster than expected last month to hit a new 30-year high, worsening a historic squeeze on household finances that finance minister Rishi Sunak is under pressure to ease in a budget update later on Wednesday.

Tighten hard and fast now and you might just avoid triggering recession - it seems the Federal Reserve is tempted by its own playbook from almost 30 years ago.

At age 69, Kim Jung-mi holds three jobs: she spends three hours getting a two-year old home from kindergarten every weekday for $9 per hour, then washes vegetables at a store that sells kimchi.

Gold prices held steady on Wednesday as worries over the Ukraine crisis supported demand for the safe-haven metal, although calls from U.S.

South Korea on Wednesday nominated veteran International Monetary Fund official Rhee Chang-yong as its new central bank chief, a pick who is widely expected to continue the bank's efforts to curb inflation with aggressive interest rate hikes.

South Korea has nominated Rhee Chang-yong, a veteran technocrat at the International Monetary Fund, as its new central bank chief, the country's presidential office said on Wednesday.

Wall Street pushed stocks and Treasury yields down on Wednesday after both had powered higher earlier in the week as investors took in the strength of the economy and hawkish comments from U.S.

Asian equities hit three week highs on Wednesday as investors fled a meltdown in bond markets and sought refuge in cash, carry trades and beaten-down sectors such as technology, while the Ukraine conflict's threat to supplies kept oil prices firm.

World stocks climbed to five-week highs on Wednesday as investors ignored a broadening selloff in global bond markets fuelled by a combination of soaring inflation and hawkish comments from U.S.

Oil prices rose in volatile trading on Wednesday, supported by disruption to Russian and Kazakh crude exports via the CPC pipeline.