IBT Staff Reporter

A retreat in oil prices continued on Thursday as investors reassessed the risks of recession and how fuel demand will be affected by rising interest rates.

Oil prices continued to retreat on Thursday as investors reassessed the risks of recession and the impact of interest rate hikes in major economies on fuel demand.

Oil prices continued to pull back on Thursday, dropping more than 2% as investors recalibrated assessments of recession risks and fuel demand amid interest rate hikes in major economies.

Oil prices fell 2% in early trade on Thursday, extending losses from the previous day, as investors worried that aggressive U.S.

The European Central Bank will raise its deposit rate above zero for the first time in a decade in September, according to most economists polled by Reuters, who expect it to be at least 50 basis points higher than previously anticipated by year-end.

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North Korean leader Kim Jong Un continued to preside over the second day of the nation's major party meeting on its military and defence policies on Wednesday, the state media reported on Thursday, amid concerns over a potential imminent nuclear test.

Eight people who took care of soccer legend Diego Maradona will be tried in Argentina courts for homicide, according to a ruling released on Wednesday following an investigation into his November 2020 death due to cardiac arrest.

A coalition of human rights groups on Wednesday called on U.S.

A coalition of human rights groups on Wednesday called on U.S.

Brazil's Economy Ministry is trying to limit the cost of higher cooking gas subsidies and a new cash transfer program for truck drivers, which the government is envisaging as a way to ease the impact of soaring fuel prices in an election year, said five sources familiar with the matter.

At least one unit of U.S. grain trader Cargill in Brazil's Mato Grosso state is storing corn in open air outside silos, according to images posted on Twitter on Wednesday, reflecting the rapid pace of harvesting this season.

U.S. President Joe Biden's public approval rating fell for a fourth straight week to 36% matching its lowest level last seen in late May, according to a Reuters/Ipsos opinion poll completed on Wednesday.

The International Monetary Fund said on Wednesday it welcomed an economic reform program announced by the Tunisian government this month and is ready to start negotiations in coming weeks over a loan program.

The Texas school district police chief who has come under withering criticism for the police response to the Uvalde school massacre has been placed on administrative leave by the district and could lose his position on the Uvalde City Council.

The school district police chief who delayed launching an assault on a mass shooter who slaughtered 19 school children and two teachers in Uvalde, Texas, has been placed on administrative leave, the schools' superintendent said in a statement on Wednesday.

A Texas state senator sued the state's Department of Public Safety on Wednesday for access to the complete records of the shooting at an elementary school in May that killed 19 children and two teachers.

The Muslim widow of the Italian ambassador killed last year in Democratic Republic of Congo broke into tears on Wednesday as she told Pope Francis of her Catholic husband's commitment to help African children.

Central banks' focus on fighting persistently high inflation could lead to a recession over the next two years and raise the risk of 'financial accidents', U.S.

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Latin America's new "pink tide" is gaining pace after Colombia elected its first leftist leader Gustavo Petro, with Brazil expected to follow suit in elections in October, an echo of a regional political shift in the early 2000s.

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Brazil and Mexico were among the countries registering the biggest declines in anti-corruption efforts as the pandemic and inflation pushed fighting graft lower on public agendas in Latin America, according to a ranking released Wednesday.

U.S. President Joe Biden has publicly criticized oil and gas executives for banking big profits from high gasoline prices but he has rarely spoken directly to the heads of energy companies or their representatives, White House records and interviews with industry sources show.

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Thousands of indigenous protesters held a peaceful march through Ecuador's capital, Quito, on Wednesday to demand that President Guillermo Lasso address price rises that have ignited 10 days of demonstrations across the country.

Ecuador's government is trying to retake control of Puyo, a city in the country's Amazon region, after violent clashes and the burning of a police station by demonstrations during nationwide protests against the economic policies of President Guillermo Lasso.

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