Economy

Oil Up Over Demand Upsurge In US, Positive Signals From Fed

Oil prices increased on Friday over robust demand indicators in the US as crude oil inventories declined and Federal Reserve (Fed) minutes show interest rate cuts are likely in 2024 while the Israel-Palestine conflict continues heightening fears of a wider war in the Middle East. International benchmark crude Brent traded at $78 per barrel at ...

10:26 Et January 5, 2024

Oil prices slide as Red Sea transport disruptions ease

Oil prices fell roughly 1% on Thursday, as concerns eased about shipping disruptions along the Red Sea route, even as tensions in the Middle East continue to fester. ...

12:16 Et December 28, 2023

Oil up ahead of postponed OPEC+ meeting on supply future

Oil prices increased on Tuesday amid supply uncertainty magnified by reports of disputes among OPEC+ members over their production "as for the upcoming year. International benchmark crude Brent ...

10:53 Et November 28, 2023

European car market expands 14.6% in October

The European passenger car market grew 14.6% from a year ago in October, marking the 15th consecutive month of growth, an industry group report revealed on Tuesday. New ...

11:40 Et November 21, 2023

Oil Prices Ease As Demand Worries In US, China Persist

Oil prices slid on Thursday over weak demand data in the US and unfolding fears that recession signs in China will also curb the country's oil demand. International ...

12:13 Et November 16, 2023

World oil, gas, coal demand to peak by 2030, IEA says

World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, ...

10:40 Et October 24, 2023

Egyptian banks suspend debit card use in foreign currency

At least two Egyptian banks have suspended the use of Egyptian pound debit cards outside the country to stop a drain on foreign currency as the country's currency ...

11:16 Et October 6, 2023

China's economy shows some signs of stabilising but property slump threatens outlook

China's factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support ...

10:38 Et September 15, 2023

Oil falls on concerns about China, winter demand

Oil prices eased on Thursday as worries over demand due to a seasonal slowdown during winter and an uncertain economic outlook for China outweighed expectations of tighter supplies from extended production cuts in Saudi Arabia and Russia. Brent crude futures fell 36 cents to $90.24 a barrel by 0645 GMT, after a nine-session winning streak. ...

10:00 Et September 7, 2023

Reuters: China to launch $40 billion state fund to boost chip industry

China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, ...

11:42 Et September 5, 2023
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