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Eurozone inflation creeps higher

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 …

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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, …

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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 …

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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 …

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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 …

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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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