British motorists have been hit by fuel prices reaching record highs. The average price of a litre of petrol and diesel at UK forecourts on Sunday was 149p and 153p respectively, according to RAC figures. This means the cost of filling up a typical 55-litre family petrol car is £82, while diesel models cost £84….
Oil Slips From Seven-Year High Ahead of More US–Iran Talks
LONDON—Oil slipped towards $90 a barrel on Tuesday ahead of the resumption of indirect talks between the United States and Iran, which could revive an international nuclear agreement and allow more oil exports from the OPEC producer. A deal could return more than 1 million barrels per day (bpd) of Iranian oil, equating to more…
Oil Climbs Toward 7-year Highs on US Stock Draw, Eyes on OPEC+ Move
LONDON—Oil prices climbed on Wednesday toward last week’s seven-year highs as a draw in U.S. crude stocks confirmed strong demand and tight supplies, but investors remained cautious ahead of an OPEC+ meeting later in the day. Brent crude rose 23 cents, or 0.26 percent, to $89.39 a barrel by 1050 GMT, after easing 10 cents…
UK House Prices Post Strongest Start to Year Since 2005: Nationwide
LONDON—British house price growth accelerated in January, marking the strongest start to any year since 2005, mortgage lender Nationwide said on Tuesday. House prices jumped by 0.8 percent in January, following a 1.1 percent increase in December. A Reuters poll of economists had pointed to a 0.6 percent increase last month. House prices stood 11.2…
Oil Slips Below $89 on Speculation of Faster OPEC+ Hike
LONDON—Oil slipped on Tuesday, staying close to a seven-year high, weighed by speculation OPEC+ could go further than expected to add supply at a meeting this week and expectations of a rise in U.S. inventories. While the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, has been expected to maintain its policy…
BMO Capital Cuts Amazon Price Target by 12 Percent
BMO Capital analyst Daniel Salmon lowered the price target on Amazon.com Inc. to $3,600 from $4,100 but reiterated an Outperform rating on the shares. The price target implies an upside of 29 percent. The analyst is also reducing his FY22 EPS view to $42.99 from $65.04. The revision reflects his expectations of lower online stores and third-party seller revenues in…
Why This BofA Securities Analyst Is Cutting Airline Price Targets
The underlying fundamentals in the airline sector remain challenging. Against this backdrop, investors should focus on quality names such as Delta Air Lines, Inc., rather than those with higher operating and financial leverage like United Airlines Holdings Inc. and American Airlines Group Inc., according to BofA Securities. The Airlines Analyst Andrew Didora reiterated a Buy rating for…
German Producer Prices Register Record 24.2 Percent Jump in December
January 20, 2022
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BERLIN—German producer prices rose 24.2 percent year on the year in December, with the record annual jump driven by higher energy prices, official data showed on Thursday. The jump from the previous December was the largest year-on-year increase for any month since the Federal Statistics Office began compiling the producer price numbers in 1949, the…
Oil Prices Slip From 2014 Highs, Supply Concerns Limit Losses
LONDON—Oil slipped on Thursday as investors took profits after a recent price rally, but strong demand and short-term supply disruptions continue to support prices close to their highest since 2014. Brent crude futures were down 39 cents, or 0.4 percent, at $88.05 a barrel by 1006 GMT after dropping more than $1 in earlier trade….
BOJ Raises Price Forecast, Keeps Policy Steady
TOKYO—The Bank of Japan on Tuesday raised its inflation forecast for the fiscal year beginning in April and said risks to the price outlook were evenly balanced, nodding to recent signs the commodity-driven rise in inflation was broadening. As widely expected, the central bank kept unchanged its -0.1 percent target for short-term interest rates and…
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