Seasonally and price-adjusted new factory orders in Germany declined by 11.3% in January compared to the previous month, the country’s Federal Statistical Office Destatis revealed in a report published on Thursday. Foreign orders dropped by 11.4% compared to December, while domestic orders declined by 11.2%. New orders from the euro area plunged by 25.7%, while …
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Crude oil inventories in the United States increased by 423,000 barrels in the week that ended March 1st, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Distillate inventories are said to have declined by 1.8 million barrels, whereas gasoline stockpiles saw a decline of 2.8 million barrels. During the corresponding week, …
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Retail trade in the euro area slipped by 1% in January compared to the same month a year ago, while in the entire European Union, the figure fell by 0.6%, Eurostat revealed in its report on Wednesday. On a monthly basis, the reading was up 0.1% in the Eurozone and rose 0.3% in the entire …
Hamas senior official: It is now in the hands of the Americans if they are serious about achieving a ceasefire before Ramadan The United States must pressure Israel to reach a ceasefire and hostage deal agreement with Hamas, a senior official from the Gazan terror group told NBC on Tuesday. “It is now in the …
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Crude oil for front-month settlements fell by over 1% on Tuesday as targets set by China, the world’s largest crude oil importer, regarding its economic growth, failed to raise optimism among investors. Namely, Chinese Premier Li Qiang announced that the economic authorities set a gross domestic product growth target of approximately 5% for 2024. Additionally, …
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Egyptian source to Sky News: Despite difficulties in talks, reports on no Cairo breakthrough are false The latest round of ceasefire talks have broken up without a breakthrough. Meanwhile, global internet cables have been cut in the Red Sea that provide data to Africa, Asia and the Middle East. Without a temporary truce over Ramadan, …
Producers may need to stick with output curbs for the entire year, and the cooperation of all is far from guaranteed. OPEC+ may have put a floor under crude prices by extending oil supply cuts for another quarter, but the group will soon face a more grueling test. Saudi Arabia and its partners agreed Sunday …
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OPEC and its allies extended output cuts to the end of June China unveils 5% GDP growth target this year at key meeting Oil fluctuated between gains and losses as the economic outlook in the biggest importer China vied with OPEC+’s widely expected extension of output cuts. A slew of announcements from China’s National People’s …
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Oil prices shed over 1% on Monday despite rising tensions in the Red Sea and on the front lines of the Israel-Hamas conflict, with OPEC+ extending voluntary production cuts and demand sentiment taking a beating from an unusually mild winter. On Sunday, OPEC+ agreed to extend its 2.2-million-barrel/day voluntary production cuts for another quarter, with …
The US Supreme Court overturned on Monday a Colorado court’s decision that previously barred former President Donald Trump from appearing on the state’s Republican presidential primary ballot. The unanimous ruling noted that “the states have no power under the Constitution to” enforce a clause that disqualifies people from federal office if they participate in the …
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