Copper prices soared on Wednesday to their highest in seven months after Chinese smelters, which process half of the world’s mined copper, agreed on a joint production cut. Benchmark three-month copper on the London Metal Exchange […]
Daily Standup Top Stories Exploding Energy Prices in California March 13, 2024 Mariel Alumit “California leaders know that rising prices are a huge problem. The state is now considering a plan to tie utility rates to personal income […]
The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up. The figures compared with a crude oil inventory build of 1.4 […]
US Navy A Bangladesh-flagged bulk carrier Abdullah with 23 crew was boarded in the Indian Ocean Tuesday by suspected Somali pirates some 600 nautical miles east of Mogadishu. The United Kingdom Maritime Trade Operations (UKMTO) […]
Spanish farmers on Wednesday (21 February) staged their biggest rally yet since protests began two weeks ago, as the ruling Socialist party and the centre-right opposition clashed in parliament over border controls and ‘mirror […]
Reheating services inflation isn’t a surprise. But the PPI for finished core goods saps hopes for goods “deflation” to continue to hold down overall inflation. By Wolf Richter for WOLF STREET. The Producer Price Index for final demand […]
Macquarie Group’s analysis of January’s purchasing managers’ index (PMI) data suggests the global industrial cycle may be at a turning point following recent lows, potentially signalling a bullish phase for industrial commodities demand. Macquarie […]
The biggest export group — crude oil, petroleum products, natural gas, petrochemicals — retraced part of the 50% spike as prices dropped. By Wolf Richter for WOLF STREET. The huge US trade deficit improved – or got less […]
Houthi attacks from Yemen on commercial vessels in the Red Sea and Gulf have generated major disruption across key shipping artery The cost of transporting cargo through the Red Sea and the Suez Canal, a […]
Beijing has been actively investing in manufacturing to support the economy in light of the real-estate crisis China’s decision to focus its economic efforts on manufacturing could provoke a new trade war with other global […]
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