By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell nearly 4% on Wednesday to their lowest settlements since June, as worries about global fuel demand mounted after U.S. data showed a larger-than-expected rise in gasoline inventories. Brent crude futures settled down $2.90, or 3.8%, at $74.30 a barrel. U.S. WTI crude futures fell by $2.94, or …
Oil falls 4% as build in gasoline stocks fuel demand concerns Read More »
By Hannah Lang WASHINGTON (Reuters) -The U.S. dollar was at a two-week high on Wednesday, while the euro was weak across the board as markets ramped up bets that the European Central Bank (ECB) will cut interest rates as early as March. Although markets are still pricing at least 125 basis points of interest rate …
Dollar at 2-week high, euro softer as market bets on rate cuts Read More »
JOHANNESBURG (Reuters) -The South African rand firmed on Wednesday after subdued U.S. labour data boosted bets that the Federal Reserve was done hiking interest rates and might start easing its monetary policy early next year. At 1500 GMT, the rand traded at 18.8425 against the dollar, around 0.7% stronger than its previous close. The dollar …
South African rand gains on bets Fed rate cut coming Read More »
By Laura Sanicola (Reuters) – There is plenty of hand-wringing on display at the COP28 climate conference in Dubai about the slow pace of reducing the consumption of fossil fuels to fight climate change. But one positive that delegates can point to is the growing fleet of electric vehicles worldwide that is already making a …
How electric vehicles are accelerating the end of the oil age Read More »
NAIROBI (Reuters) – Kenya is likely get a fresh $1 billion loan from China in this financial year and it could use the cash to partly settle a Eurobond that is maturing next June if it comes in time, the governor of the central bank said on Wednesday. The loan was first announced by Kenyan …
Kenya could get $1 billion loan from China this fiscal year, central banker says Read More »
MAPUTO (Reuters) – Mozambique sees economic growth picking up to 5.5% next year but its budget deficit widening to 10.4% of gross domestic product (GDP) driven by debt service, public sector wage reforms and election spending, its finance minister said on Wednesday. Those forecasts compare with 2023 targets of 5.0% growth and a budget deficit …
Mozambique sees higher economic growth, wider deficit in 2024 Read More »
By David Lawder (Reuters) – World Bank President Ajay Banga on Wednesday called on member countries to make the next replenishment of the lender’s fund for the world’s poorest countries the largest ever, warning that the International Development Association (IDA) was being pushed to its limits by increasing demands. Opening a mid-term review of the …
World Bank’s Banga calls for record replenishment of fund for poorest countries Read More »
By Scott DiSavino NEW YORK (Reuters) – Oil prices fell to a near five-month low on Tuesday on a stronger U.S. dollar and demand concerns, putting the market down for a fourth day in a row on doubts over OPEC+ announced voluntary supply cuts last week. “The OPEC+ deal did little to support prices and …
Oil falls to near 5-month low on OPEC+ cut doubts, demand concerns Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks declined for a second straight session and U.S. Treasury yields fell on Tuesday, as investors attempted to assess the policy path of major central banks and the trajectory of slowing economic growth. Softening economic data and recent comments from Federal Reserve officials, including …
Stocks, US yields fall as investors gauge economic health Read More »
By Hannah Lang (Reuters) -The U.S. dollar was higher against a basket of currencies on Tuesday, paring losses from a recent selloff in spite of data showing that U.S. job openings dropped in October to the lowest level since early 2021. Job openings, a measure of labor demand, fell 617,000 to 8.733 million on the …
Dollar up after weaker-than-expected jobs data, fueling rate bets Read More »
