LONDON—Stagflation jitters stunted growth in global shares on Monday, while bets that major central banks will tighten monetary policy pushed up bond yields and lifted the dollar to a near three-year peak against the Japanese yen. Brent oil prices extended their bull run to reach ground last visited in late 2018, with gains across the…
Stagflation Fears Stalk Shares, Rising Yields Lift Dollar
October 11, 2021
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Surging Oil Prices Lift Material, Energy Stocks on Wall Street
October 11, 2021
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NEW YORK/LONDON—Oil prices surged again on Monday to multi-year peaks, giving a fillip to materials and energy shares and helping U.S. stocks to reverse early declines as investors looked past stagflation risks for now. U.S. crude jumped 2.28 percent to $81.16 per barrel, a level not seen since late 2014, and Brent rallied 1.9 percent…
Oil Up as Industries Switch From Gas, Little Sign Supply Crunch Easing
October 8, 2021
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Oil prices rose on Friday, and were on track for gains of nearly 5 percent this week, on signs some industries have begun switching fuel from high-priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now. “A lot of catalysts are out there to keep the…
Oil Spill Volume in Huntington Beach May Have Been Much Less Than Anticipated: Officials
HUNTINGTON BEACH, Calif.—Officials were speculating that the volume of oil leaked off the coast of Huntington Beach might be much less than initially anticipated on Oct. 7. Authorities earlier this week were bracing for a worst-case scenario of about 144,000 gallons of oil, but on Thursday, it appeared it could be as low as 30,000…
Oil Extends Losses as US Mulls Strategic Reserve Sales
October 7, 2021
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LONDON—Oil prices fell sharply on Thursday, extending losses from the previous session, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market. Brent crude prices fell $1.24, or 1.5 percent, to $79.84 a barrel by 0918 GMT, after…
Oil Retreats From Multi-Year Highs After US Stock Build
NEW YORK—Oil prices dropped nearly 2 percent on Wednesday after hitting a multi-year highs, taking a breather from its torrid gains of late after U.S. crude inventories rose unexpectedly. The latest surge in the price of crude had been underpinned by the refusal of the Organization of the Petroleum Exporting Countries and allies to boost…
European Stocks Skid on Inflation Angst as Oil Jumps
Technology, travel and retail shares fuelled declines in European stocks on Wednesday as soaring oil and gas prices intensified concerns about higher inflation denting economic growth. After a late-session rally on Tuesday, the pan-European STOXX 600 index fell 1.7 percent, with travel & leisure and tech stocks tumbling more than 2 percent. Banks slipped 0.6…
Stocks Slip, Bond Yields Bounce as Oil Fuels Inflation Angst
October 6, 2021
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HONG KONG―From Europe to Asia, shares fell and government bond yields rose on Wednesday as oil prices hit their highest in seven years, fuelling concerns about rising inflation. The Euro STOXX 600 fell 1.8 percent, denting gains made in its best day in 11 weeks on Tuesday, with tech stocks down more than 2 percent…
California Oil Pipeline May Have Been Hooked By Ship’s Anchor, Apparently Dragged
HUNTINGTON BEACH, Calif.—The pipeline that leaked tens of thousands of gallons of oil into the water off Southern California may have been caught by a ship’s anchor and torn as it was apparently dragged along the ocean floor, authorities said Oct. 5. Federal transportation investigators said preliminary reports suggest the failure may have been “caused…
Fossil Fuels Are Back—Everywhere Except in the USA
Commentary While the greens in America, including their champion zealot, President Joe Biden, howl their primal screams over climate change, the rest of the world is turning to coal. The dark stuff. The satanic fuel. But it’s back big-time across the globe. So is old-fashioned petroleum. Bloomberg reported last week that because of high natural…
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