An electronic ticker at the Philippine Stock Exchange (PSE), operated by the Philippine Stock Exchange Inc., in Taguig, Philippines, Friday, June 24, 2022. The exchange will permanently close its trading floor after the pandemic accelerated its migration to “floorless trading ” in the midst of a digital shift that is changing the operation of capital … Read more
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LONDON, Nov 2 (Reuters) – Employees and agents of a British subsidiary of mining and trading group Glencore ( GLEN.L ) used private jets to transfer cash to pay bribes to oil officials in West Africa, prosecutors told a London court on Wednesday . Glencore Energy UK Limited paid – or failed to prevent the … Read more
Demand for diesel is skyrocketingKTVU FOX 2 San Francisco Low diesel supply threatens to exacerbate the inflationary crisisFox Business No, the US is not going to run out of diesel in 25 daysCBS News When diesel is gone Famine will flourishNewsmax TURNER: The Biden Admin seems to think the diesel crisis will magically resolve itselfDaily … Read more
Hussam Abdulnabi (Dubai) A report by the International Monetary Fund projected that crude oil producers would achieve cumulative oil gains of around $1 trillion between 2022 and 2026, which oil-exporting countries like the UAE could use to continue investing in projects that support sustainable economic growth. The report, details of which were revealed during a … Read more
Silence is golden. Said to be an old Arabic proverb, this is good advice for both the US and Saudi governments if they are to retain any chance of salvaging a security relationship that is more important now than when it began eight decades ago. The West is invested in the war in Ukraine and … Read more
Asian stocks were headed lower on Wednesday to follow U.S. stocks lower as hopes that the Federal Reserve would soften its hawkish stance faded on robust U.S. jobs data.
US President Joe Biden said there would be “consequences” for the Saudis following the OPEC supply cut.
A customer pumps gas at an Exxon gas station. Photo: Marta Lavandier/Associated Press If the Democrats lose next week’s election, one of the reasons will be skyrocketing energy prices. The lesson that an election defeat must drive home is that this is the result of their own politics. Consider President Biden’s outrage Friday over last … Read more
Chevron stock climbed in premarket trading Friday after the oil and gas giant delivered a big earnings beat in the third quarter. Chevron (ticker: CVX) reported adjusted earnings of $10.8 billion, or $5.56 a share, a 90% increase on the year-ago period but below the $11.4 billion it reported in the second quarter. Operating revenue … Read more
Global equity investors analyzed mixed messages on Thursday, as Chinese stocks looked set to rally further while weak technology earnings dragged down US stocks. Government bonds are yielding and the dollar fell.