Inflation in the Eurozone exceeded the worst expectations and hit a record 8.1% in May amid surging energy costs, according to official figures released on Tuesday. A flash estimate by European Union statistics agency Eurostat revealed that the main component of inflation in the euro area is energy, which is …
Read More »Europe’s plan to ban Russian coal sends prices higher
The price of coal jumped in Europe, the US and Asia on Tuesday after the EU announced restrictions on imports of the fossil fuel from Russia, according to figures from the leading energy exchanges. The price shot up by 14% to a three-week high, data from ICE Futures Europe show, …
Read More »Pentagon reveals number of US troops on higher alert over Ukraine
US Defense Secretary Lloyd Austin has placed 8,500 troops on “heightened preparedness to deploy” to Europe in case NATO decides to activate its rapid-response force over the ongoing situation in Ukraine, the Pentagon said Monday. The troops have been placed on “higher alert only” and “no final decision has been …
Read More »Kazakhstan, Libya supply cuts push oil higher
Oil prices were up on Monday following days of supply shortfalls in Kazakhstan and Libya. Global benchmark Brent crude gained 35 cents, or 0.4%, rising to $82.1 a barrel at 08:00 GMT. US benchmark West Texas Intermediate was also up 37 cents, or 0.5%, trading at $79.27 a barrel. Overall, oil …
Read More »Speculation on European markets drives gas prices higher as the ‘Russia’s to blame’ game continues
The cost of November futures on the TTF hub in the Netherlands traded at $1,109 for a thousand-cubic-meter unit as of 07:00 GMT, or, in household terms, $107 per megawatt-hour. At its peak, the cost of the commodity reached $1,139 per thousand cubic meters. The crisis in the European gas …
Read More »European gas prices push higher as winter season approaches
The price of November futures on the Dutch TTF exchange was trading at $1,247.4 per 1,000 cubic meters (or €104 per MWh). Gas prices fell sharply earlier on Monday on news that the Danish Energy Agency approved the start of testing of the Nord Stream 2 gas pipeline’s first string. …
Read More »Biden will hold global Covid ‘summit’ focused on bringing ‘higher level of ambition’ pushing vaccines
The virtual summit is being timed with the United Nations General Assembly, with the summit being planned for September 22, the day after the end of the UN conference. While the specifics of the talk are not yet known, White House officials announced on Friday that the president will be …
Read More »Barclays: Reopening economies drive oil demand higher
Despite the possibility of a return of Iranian oil supply and the resurgence of Covid in parts of Asia, global oil demand is “healing” and oil inventories are set to normalize over the next two to three months, the UK bank said in a note on Friday carried by Reuters. Barclays expects the …
Read More »More contagious British Covid-19 variant has ‘significantly higher mortality rate’ than other strains, says UK study
A study published on Wednesday in the British Medical Journal (BMJ) says that the B117 variant, often referred to as the ‘British’ or ‘Kent’ strain, is 30-100 percent more deadly than other Covid-19 variants in circulation. “Coupled with its ability to spread rapidly, this makes B117 a threat that should …
Read More »WATCH: People flee to higher ground, boats rush to safer waters after New Zealand says tsunami evacuation ‘overrides’ Covid alert
READ MORE: Hawaii & Samoa under TSUNAMI WATCH after 8.1 earthquake north of New Zealand Residents were instructed to evacuate some coastal areas “immediately” in the wake of a series of Friday morning’s quakes – three of them registering at more than 7.0 in magnitude – with the National Emergency Management Agency stating the order …
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