U.S. crude benchmark WTI rose slightly Thursday with OPEC and its allies expecting tight global supplies in the fourth quarter. Futures were higher in morning trading today, with WTI up 0.4% at $83.12/bbl and Brent up 0.1% at $84.41/bbl. U.S. natural gas was 4.8% lower at $5.51/MMBtu.
The average price for gas in the U.S. rose 3 cents on the week to $3.40/gallon, up $1.25 compared with the same time last year.
Shell’s chief executive defended the oil major’s business model Thursday, setting up a showdown with an activist investor calling for a breakup of the company to improve its environmental and financial performance.
European gas futures slid almost 10% Thursday after Russia announced it would pump more gas to Germany and Austria, erasing fears that the continent could run low on the vital fuel this winter.
The European Central Bank estimated the bloc’s exports would have been almost 7% higher in the first half of the year without supply chain bottlenecks.
Chinese officials are predicting a sharp slowdown in domestic e-commerce growth over the next five years on an expected slowdown in consumer spending and broader economic deceleration. The nation’s zero-tolerance approach to COVID-19 has contributed to disruptions.
The U.S. dairy cow herd is shrinking at the fastest pace in 12 years because of higher feed costs, likely leading to higher prices for butter, milk and other products.
Vaccinated people over 80 who were infected with breakthrough cases of COVID-19 were less likely to die from the virus than unvaccinated people under 50, new data shows.
After exploring whether existing COVID-19 vaccines need to be reformulated to fight variants like Delta, top White House health officials have decided that the current mix of vaccines and boosters will provide sufficient protection for the foreseeable future.
Even with $6 billion of costs from supply chain disruption, Apple posted a respective 29% and 62% jump in third-quarter sales and profits from the same time last year, slightly below analyst estimates.
Russia reported all-time highs for new COVID-19 infections and deaths on Thursday, with officials in Moscow ordering all non-essential services to shut down until Nov. 7.
The U.K. reported 39,478 new COVID-19 infections and 166 virus deaths Thursday, as data from the nation’s virus tracking app suggests the most recent wave is much bigger than official numbers. The nation’s prime minister has begun wearing a face mask in the halls of parliament for the first time in months.
Despite rising infections globally, COVID-19 cases across Central and South America are declining, with last week seeing the region’s lowest death and infection rates in over a year.
The European Central Bank plans to keep its key interest rate in negative territory for at least another year despite surging inflation in the euro zone, a contrary outlook to the U.S. Federal Reserve’s looming phaseout of easy-money policies.
Top Chinese officials said they have no plans to open borders and abandon the nation’s zero-tolerance approach to COVID-19 despite increasing isolation of the world’s second-largest economy.
Junk-bond issuance by China’s riskier companies has nearly halted, as financial crisis looms over the nation’s $40 billion of real estate debt that must be rolled over by the end of next year.
Migration to rich countries plummeted by a third last year, the largest drop since records began in 2003, as the pandemic closed many businesses and borders.
Saudi Arabia’s state-owned mining company plans to significantly boost investments in exploring for lithium and nickel over the next two decades, as the nation positions itself to become a major supplier of battery materials for the electric vehicle market.
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