The searing commodity markets gains have stalled, though oil has rallied from steep losses overnight to trade just below $110 a barrel. The United Arab Emirates said it will call on the OPEC+ alliance to boost oil output faster, athat could set the country against fellow members. Gold held losses after falling from a 19-month high.
These reversals are the latest twist in volatile markets as investors assess the risk of an inflation shock that could derail global growth just as the Federal Reserve prepares what’s expected to be the first of several rate hikes next week. U.S. consumer price inflation is likely to hit another multi-decade high in data due Thursday, and though the searing gains in commodities seem to have stalled for now, markets are still beholden to developments in the war in Ukraine and Russian sanctions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European stocks rebound sharply; Frankfurt soars 4%Europe's major stock markets rebounded sharply in early deals on Wednesday from recent Ukraine-driven losses. 000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000/1:8760
Source: eNCA - 🏆 49. / 51 Read more »
Business Maverick: South African Assets Become Unexpected Haven for Foreign BuyersSouth African assets are finding favor among foreign buyers even as investors shed most of their riskier holdings after Russia’s invasion of Ukraine.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Russian Oil Is Increasingly Becoming Untouchable for TradersRussian oil is becoming even less welcome in the global petroleum market as traders fret over the possibility of a U.S.-led ban on the nation’s supplies, and a latest purchase by Shell Plc drew condemnation. TotalEnergies SE said its traders will no longer buy the nation’s crude.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: China Construction Bank Unit Gets Reprieve on Metal Margin CallsA unit of China Construction Bank Corp. was given additional time by the London Metal Exchange to pay hundreds of millions of dollars of margin calls it missed Monday amid an unprecedented spike in nickel prices, according to people familiar with the matter.
Source: dailymaverick - 🏆 3. / 84 Read more »