By Stephanie Kelly NEW YORK (Reuters) -Oil prices leapt nearly 6% on Friday, with Brent posting its highest weekly gain since February, as investors priced in the possibility that the conflict in the Middle East could widen as Israel began ground raids inside the Gaza Strip. Israel’s announcement marked a shift from an air war …
Oil surges nearly 6% after Israel begins ground raids into Gaza Read More »
KAMPALA (Reuters) – Work at Uganda’s Kingfisher oil project area can resume after its operator made required safety improvements, the petroleum regulator said on Friday, a week after operations were suspended following a death at the site. CNOOC Uganda , a unit of CNOOC, operates Kingfisher, one of the country’s two commercial oil development projects. …
Uganda’s CNOOC can resume work at Kingfisher oil project, regulator says Read More »
JOHANNESBURG (Reuters) -The South African rand stabilised on Friday after a week of volatility, with the focus turning to domestic inflation and retail sales figures next week. Analysts and investors are gearing up for the mid-term budget on Nov. 1, when South Africa’s deteriorating public finances will be in the spotlight. At 1503 GMT, the …
South African rand finds its feet after volatile week Read More »
DAKAR (Reuters) – Burkina Faso and Russian state nuclear company Rosatom on Friday signed a memorandum of understanding (MOU) for construction of a nuclear power plant in the landlocked Sahel West African state, Burkina Faso’s energy ministry said in a statement. The nuclear power plant will enable the country to meet its energy needs, it …
Burkina Faso and Russia’s Rosatom sign agreement for nuclear power plant Read More »
By Julia Payne and Libby George BRUSSELS/LONDON (Reuters) – Nigerian state oil company NNPC has begun buying gasoline via cash tenders, rather than oil swaps, for the first time in nearly a decade, four sources familiar with the matter told Reuters. The company’s latest tender to buy gasoline for delivery in November closed this week, …
Nigeria buying fuel with cash, rather than crude, in post-reform shift Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. Treasury yields rose and the dollar strengthened while global stock markets fell on Thursday after data showed U.S. consumer prices increased more than expected in September. That helped to underpin some views in the market that U.S. interest rates may need to remain high for longer. The …
Dollar, yields rise, stocks fall after US consumer price data Read More »
By Herbert Lash NEW YORK (Reuters) -The dollar rose sharply on Thursday after U.S. consumer prices rose more than expected in September, lifted by an elevated cost of rent that raised the prospect of the Federal Reserve keeping interest rates high for some time. The Labor Department’s report on Thursday showed the annual increase in …
Dollar gains after US consumer prices rise more than expected Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices reversed early gains on Thursday in a volatile session, after a large build in U.S. crude stockpiles outweighed expectations that U.S. interest rates had peaked. Brent futures settled up 18 cents to $86.00 per barrel. U.S. West Texas Intermediate crude fell 58 cents to $82.91 a barrel. …
Oil reverses gains after US posts large crude build Read More »
MARRAKECH, Morocco (Reuters) – Zambia is poised to sign a Memorandum of Understanding (MoU) on its debt restructuring with official creditors, its finance minister said on Thursday – a key step to securing the next tranche of funding from the International Monetary Fund. IMF Managing Director Kristalina Georgieva had said earlier on Thursday that Zambia …
Zambia poised to sign debt restructuring MoU -finance minister Read More »
MARRAKECH, Morocco (Reuters) -International Monetary Fund (IMF) staff visited Ethiopia from Sept. 25 to Oct. 3, the fund said on Thursday, as the East African country continues to seek a loan almost a year after a ceasefire was reached in its civil war. “Discussions will continue in the coming weeks to reach an agreement on …
IMF visited Ethiopia to discuss loan request, talks to continue -statement Read More »
