BERLIN (AP) — The International Energy Agency says the world could quickly reduce global oil demand by 2.7 million barrels a day by cutting down on car and plane travel, helping easing the supply crunch caused by Russia’s invasion of Ukraine. The Paris-based agency said in a report released Friday that “practical actions by governments…
LISBON, Portugal (AP) — High energy costs are stoking unrest in parts of Europe, with Spain deploying more than 23,000 police officers amid a truckers’ strike Friday and farmers in France and Greece snarling traffic with their protests. Russia’s war in Ukraine has further pushed up costs for oil and natural gas in Europe, driving…
Sales of previously occupied U.S. homes fell in February as competition for a near-record low number of properties on the market drove prices higher and rising mortgage rates kept would-be buyers on the sidelines. Existing home sales fell 7.2% last month from January to a seasonally adjusted annual rate of 6.02 million, the National Association…
BILLINGS, Mont. (AP) — In the oil fields of northern Montana, industry veteran Mac McDermott watched crude prices whipsaw from $75 a barrel in January to more than $120 as Russia pressed its war in Ukraine, then down again when coronavirus worries in China raised the specter of a global slowdown. McDermott said his family-owned…
By Brijesh Patel (Reuters) – Gold was on track for its biggest weekly drop in nearly four months on Friday, after demand for the safe-haven metal was hit by hopes of progress in peace talks between Russia and Ukraine as well as a U.S. interest rate hike. Spot gold slipped 0.6% to $1,931.90 per ounce,…
By Shreyashi Sanyal and Sabahatjahan Contractor (Reuters) – The Nasdaq and the S&P 500 indexes inched higher in volatile trading on Friday as megacap stocks gained ground, while investors assessed talks between U.S. President Joe Biden and his Chinese counterpart Xi Jinping over the Ukraine conflict. Seven of the 11 major S&P sectors were lower,…
By Fanny Potkin and Poppy McPherson SINGAPORE (Reuters) -Myanmar’s junta has given the final approval for the sale of Norwegian telecommunications company Telenor’s operations in the country to a local company and a Lebanese investment firm, the firm said on Friday. Telenor Chief Executive Sigve Brekke said in a statement the firm had to leave…
By Julie Gordon OTTAWA (Reuters) – Canadian retail sales bounced back in January, beating expectations, as shoppers ventured out to car dealerships and home improvement shops, official data showed Friday, though February retail sales likely fell. Retail sales increased 3.2% to C$58.94 billion ($46.7 billion) in January, led by higher sales of motor vehicles and…
By Shreyashi Sanyal and Sabahatjahan Contractor (Reuters) -Wall Street’s main indexes were set to open lower on Friday at the end of a choppy week marked by little progress in peace talks to end the war in Ukraine and the first U.S. interest rate hike since 2018. The broad declines could snap a three-day rally…
ATHENS, Greece (AP) — Holding up vegetables and black flags, hundreds of protesting farmers blocked traffic in central Athens on Friday to demand that the government grant them additional concessions to cope with high energy costs. The protesters, some in tractors, gathered outside the Agriculture Ministry in Athens and were planning to head to parliament…
