Australia inflation races to 32-year high, sounds rate alarm

Australia inflation races to 32-year high, sounds rate alarm

Australian inflation raced to a 32-year high last quarter as the cost of home building and gas surged, an alarming result that will stoke pressure for a return to more aggressive rate hikes by the country’s central bank. Data from the Australian Bureau of Statistics on Wednesday showed the consumer price index (CPI) jumped 1.8% … Read more

Europe’s gas supply crisis grows after Russia imposes sanctions

Europe’s gas supply crisis grows after Russia imposes sanctions

Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries of state-owned Gazprom a day after Ukraine stopped a major gas transit route. Gas prices surged, with the key European benchmark gaining 12% as buyers were unsettled by the mounting threats to Europe’s supply given its high … Read more

Uncomfortably Numb: With COVID & Ukraine, Crisis Fatigue Thrives

Uncomfortably Numb: With COVID & Ukraine, Crisis Fatigue Thrives

March 15, 2022 — In casual conversation these days, you’re likely to hear: “I’m just done with COVID.” The problem is the virus isn’t done with us yet. Nor is the war in Ukraine, inflation, or gas prices, among other concerns. The statistics 2 years into the pandemic are sobering, or should be. Deaths from … Read more

Oil prices mixed, US crude falls after COVID-19 flight cancellations

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SINGAPORE: Oil prices were mixed on Monday, with Brent edging up while U.S. crude futures slipped after airlines called off thousands of flights in the United States over Christmas holidays amid surging COVID-19 infections. U.S. West Texas Intermediate crude futures fell 41 cents, or 0.6%, to $73.38 a barrel by 0053 GMT. The contract did … Read more