The world is scrambling for oil after Russia's invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world's third-largest reserves, have no plans to significantly boost output.
With surging oil prices, concerns about the hawkishness of the Federal Reserve and fears of Russian aggression in Eastern Europe, the mood on Wall Street feels like a return to the 1970s.
Brazil's economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to soaring crude prices during the Ukraine conflict, two Economy Ministry sources with knowledge of the matter told Reuters on Thursday.
Companies returned to Europe's corporate bond market to issue debt on Thursday after it remained frozen for a week following Russia's invasion of Ukraine.
Palladium extended gains to a more than seven-month high on Thursday, spurred by concerns over supply shortages following harsh sanctions on top-producer Russia, while the Ukraine crisis and soaring inflation lifted demand for safe-haven gold.
Global supply chain pressures eased in February as backlogs and delivery times improved in several key markets and a measure of ocean shipping costs declined, according to new data from the New York Federal Reserve released on Thursday.
Ukraine has exchanged all but $80 million of the $2.7 billion in new International Monetary Fund emergency reserves it received in August, IMF data show, and debt experts say it will likely need urgent debt relief this year.
Megacap growth stocks dragged the Nasdaq and S&P 500 lower on Thursday as investors worried that soaring commodity prices due to the Ukraine crisis will add to inflationary pressures.
Wall Street's main indexes struggled for direction on Thursday, with growth stocks including Tesla and Advanced Micro Devices losing ground as the Ukraine crisis kept investors on edge.
Wall Street's main indexes struggled for direction on Thursday after a strong rally in the previous session as megacap growth stocks lost ground, while the Ukraine crisis kept investors on edge.
British businesses' expectations for inflation over the next 12 months have risen to their highest in more than five years, according to a Bank of England survey that is likely to boost official concerns that soaring inflation may be slow to fall.
Price rises in Britain's services sector last month were the most widespread in more than 25 years as businesses recovered from the Omicron wave of coronavirus cases, a survey showed on Thursday.
The Moscow branch of a Chinese state bank has seen a surge in enquiries from Russian firms wanting to open new accounts, a person familiar with the matter said, as the country's businesses struggle with international sanctions after its invasion of Ukraine.
India's trade and current account deficits are likely to widen, putting pressure on the rupee, as global oil prices surge and the domestic economy reopens from a third wave of the pandemic, economists and analysts said.
W.M. Seneviratne sat watching a mechanised harvester slice through the jade green fields around him in eastern Sri Lanka's Agbopura village one recent morning, aware that this year's harvest would be only a fraction of what he was used to.
The Russian assets of Norway's $1.3 trillion wealth fund, the world's largest, have become worthless following Russia's invasion of Ukraine and selling them as instructed by the government will take time, the fund's CEO said on Thursday.
Norway's $1.3 trillion wealth fund, the world's largest, said on Thursday it held investments in Russia worth some 27 billion crowns ($3.03 billion) at the end of 2021, equivalent to 0.2% of its total value and down from 30 billion crowns a year earlier.
Commodity prices raced still higher on Thursday as Russia's invasion of Ukraine entered a second week, disrupting global raw material flows and boosting natural gas, coal and aluminium to record peaks, while crude oil and wheat scaled multi-year highs.
Commodity markets extended their bull runs on Thursday, with aluminium, coal and palm oil all hitting new records while crude oil and wheat scaled multi-year highs as Russia's invasion of Ukraine disrupted global raw material flows.
Home prices in Germany's booming property market look set to rise sharply again in 2022 and, while the pace will ease in coming years, the increases will still outstrip general inflation, a Reuters poll found.
Western drugmakers and medical device companies warn their plans to keep selling products to Russia may be complicated by economic sanctions targeting the country and its major banks in punishment over Moscow's invasion of Ukraine.
French bank Societe Generale said it was working to cut its risks in Russia, fearing a tit-for-tat response by Moscow to Western sanctions, as more companies from vodka maker Diageo to IKEA suspended business in the country.
Sneaker maker Nike and home furnishings firm IKEA shut down stores in Russia on Thursday, as trade restrictions and supply constraints added to political pressure for companies to stop business in Russia because of its invasion of Ukraine.
Top Japanese automakers including Toyota were forced to halt production in Russia as Western sanctions that followed its invasion of Ukraine scrambled logistics and cut supply chains, deepening the country's economic isolation.
Japan's consumer inflation could briefly approach the central bank's elusive 2% target as geo-political risks push up energy costs, a central banker said on Thursday, in a sign of the broadening fallout from the crisis in Ukraine.
The crisis in Ukraine could hurt Japan's economy by driving up the price households and companies pay for fuel and commodities, a central bank policymaker said on Thursday, signaling the need to maintain massive stimulus to support a fragile recovery.
U.S. sanctions targeting Russian refineries, disruptions to shipping and a fall in U.S.
Oil slid 2% on Thursday, after hitting prices not seen in a decade, as sellers jumped on hopes the United States and Iran will agree soon on a nuclear deal that could add barrels to a tight global market.
Oil eased after hitting prices not seen in roughly a decade on Thursday, as sellers jumped on hopes that the United States and Iran will agree soon on a nuclear deal that could add barrels to a badly undersupplied market.
Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions.
