Month: January 2022

Oil forward curves signal tight market, supporting price rally

LONDON, Jan 31 (Reuters) – The risk of geopolitical disruption to oil supply at a time of already tight inventories due to the strong post-pandemic recovery has sent the premium commanded by barrels for prompt delivery soaring, suggesting the current price rally has further to run. Under this “backwardated” market structure, the current price is […]
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COVID leaves Germany and France with contrasting economic fortunes

BERLIN/PARIS, Jan 28 (Reuters) – The German economy contracted over the last three months of 2021 while the French economy expanded, data published on Friday showed, pointing to contrasting fortunes for the euro zone’s two largest economies during the pandemic. Germany is often referred to as the European Union’s economic engine, but restrictions introduced in […]
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Dollar holds below 2-1/2 week highs before Fed decision

LONDON, Jan 26 (Reuters) – The dollar held below a 2-1/2 week high on Wednesday as risk sentiment stabilised before a Federal Reserve meeting at which policymakers are widely expected to signal readiness to start raising interest rates from March. Markets have been on a rollercoaster ride this week as the combination of a hawkish […]
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IMF cuts growth forecasts for U.S., China and world as Omicron spreads

WASHINGTON, Jan 25 (Reuters) – The International Monetary Fund lowered its economic forecasts for the United States, China and the global economy on Tuesday, and said uncertainty about the pandemic, inflation, supply disruptions and U.S. monetary tightening posed further risks. “We project global growth this year at 4.4%, 0.5 percentage point lower than previously forecast, […]
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BoE needs to lean against rising price pressures – Mann

LONDON, Jan 21 (Reuters) – The Bank of England needs to lean against inflation pressures and stop expectations of higher price growth from getting entrenched in medium-term wage and pricing decisions, BoE policymaker Catherine Mann said on Friday. “Going into 2022, current price and wage expectations coming from the (BoE’s) DMP survey are inconsistent with […]
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Oil hit 7-year highs as tight supply bites

LONDON, Jan 18 (Reuters) – Benchmark oil prices climbed to their highest since 2014 on Tuesday as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose by $0.74, or 0.9%, to $87.22 a barrel at 1446 GMT. U.S. West Texas Intermediate (WTI) crude futures […]
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