CNN — Here’s a look at oil spill disasters. Spill estimates vary by source. 1. January 1991 – During the Gulf War, Iraqi forces intentionally release 252-336 million gallons of oil into the Persian Gulf. 2. April 20, 2010 – An explosion occurs on board the BP-contracted Transocean Ltd. Deepwater Horizon oil rig, releasing approximately … Read more
Mumbai: Even as easing vegetable prices have brought down retail inflation, risks are emerging from the global commodity markets as crude oil ruling above $90 per barrel poses a challenge, the latest state of the economy report published in the Reserve Bank of India bulletin said. On a positive note, economists from the Reserve Bank … Read more
Editor’s Note: David A. Andelman, a contributor to CNN, twice winner of the Deadline Club Award, is a chevalier of the French Legion of Honor, author of “A Red Line in the Sand: Diplomacy, Strategy, and the History of Wars That Might Still Happen” and blogs at Andelman Unleashed. He formerly was a correspondent for … Read more
London CNN Business — Europe has agreed to a cap on natural gas prices, following months of debate over whether the measure will protect European households and businesses from extreme price spikes as temperatures plummet. In a Monday meeting, EU energy ministers agreed to trigger a cap on the price of month-ahead natural gas futures … Read more
Hong Kong CNN Business — Chinese President Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he is expected to sign billions of dollars of deals with the world’s largest oil exporter and meet leaders from across the Middle East. The visit is a sign that … Read more
CNN Business — Another month of falling gas prices gave Americans’ wallets a bit of a reprieve in August. That sent consumers back to stores last month. The Census Bureau reported Thursday that a key measure of August US retail sales rose unexpectedly by 0.3% on a monthly basis, following a revised decrease of 0.4% … Read more
Output at Libya’s Sharara oil field, seen here in 2014, has been shut almost continuously since early January. Photo: ismail zetouni/Reuters Oct. 11, 2020 10:50 am ET Production at Libya’s largest oil field restarted Sunday afternoon, Libyan officials said, a move that could quickly increase the country’s overall output after an extended shutdown and add … Read more
NEW DELHI—Investors across the globe are hoarding gold in the Covid-19 pandemic. In normally gold-obsessed India, there’s a glut, as struggling families stop buying and start hocking jewelry. International investors have lifted the price of gold to all-time highs this year, trying to get their hands on more gold coins, bars and exchange-traded funds. Many … Read more
Taiwanese President Tsai Ing-wen said Friday she will ease restrictions on imports of U.S. beef and pork, clearing the biggest obstacle to free-trade talks with Washington. At a televised news briefing, Ms. Tsai said she has instructed her government to ease regulations to allow imports of American pork containing trace amounts of an animal-feed additive … Read more
TABUK, Saudi Arabia—This desert kingdom is pushing ahead with multibillion-dollar plans to build a spate of new cities despite the coronavirus pandemic and depressed oil prices, betting that projects closely associated with the crown prince will kick-start its economic recovery. The developments include a futuristic city-state called Neom in the country’s remote northwest Tabuk province, … Read more