The UK’s industrial sector recovery gathered steam in May, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Wednesday. Manufacturing output arrived at 1.4% MoM in May versus 0.1% expectations and -0.6% booked in April while total industrial output came in at 0.9% …

The National Oil Corporation of Libya announced in a statement on Wednesday the lifting of force majeure and the resumption of exports from the Brega and Zueitina ports. The statement stated that a team of specialists from the Corporation is negotiating to allow the tankers to enter the ports of …

The US dollar and European single currency came within a whisker of parity for the first time since 2002 on Tuesday morning, as financial markets fret over the likelihood of a global recession ahead. The euro teetered on the edge of hitting $1 for the first time since 2002, as …

The Organization of the Petroleum Exporting Countries (OPEC) expects global demand for oil to increase next year, but at a slightly slower pace than this year, as consumption will receive support from the improved control of the Covid-19 pandemic and the continued recovery of global economic growth. In its monthly …

Oil prices fell on Tuesday, after the imposition of new restrictions to contain Covid-19 in China and fears of a global economic slowdown affected the outlook for fuel demand. The price of benchmark Brent crude in September contracts fell by $1.81, or 1.7 percent, to $105.29 a barrel, and West …

European shares extended losses for the second consecutive session on Tuesday, weighed down by fears of a lack of energy supplies, while a rise in COVID-19 infections in China exacerbated fears of a global economic recession. The decline included most sectors such as healthcare, technology and luxury products. The oil …

Gold settled on Tuesday, with lower yields on US Treasuries, which boosted demand and offset the impact of a stronger dollar that pushed gold to a nine-month low earlier. And gold settled in spot transactions at $ 1733.59 an ounce by 0740 GMT, after hitting its lowest level since September …

Japanese stocks fell on Tuesday as a surge in domestic COVID-19 infections sparked fears of a recession and led to a morning sell-off. The Nikkei index closed down 1.77 percent at 2,6336.66 points, after losing as much as 1.99 percent earlier in the session. The broader Topix index fell 1.64%. …

A senior US Treasury official said on Tuesday that the global price of oil could rise 40 percent to about $140 a barrel if a proposed ceiling for the price of Russian crude is not imposed, along with sanctions waivers that allow shipments below that price. The official said US …

French carmaker Renault on Tuesday reported a decline in its car sales in the first half of 2022 after shutting down its activities in Russia, its second-largest market, following the invasion of Ukraine. The group said its worldwide sales fell 29.7 percent compared to last year, to just over one …