Oil prices surge in Asia, stocks under pressure
CNA
SYDNEY, March 2 : Oil prices surged on Monday and investors stampeded to the safety of bonds and gold as military conflict in the Middle East looked set to last weeks, just as markets had been spooked by AI and banking fears. Brent jumped 9 per cent to $79.42 a barrel, while U.S. crude climbed 8.6 per cent t
SYDNEY, March 2 : Oil prices surged on Monday and investors stampeded to the safety of bonds and gold as military conflict in the Middle East looked set to last weeks, just as markets had been spooked by AI and banking fears.
Brent jumped 9 per cent to $79.42 a barrel, while U.S. crude climbed 8.6 per cent to $72.61 per barrel. Gold rose 1.4 per cent to $5,350 an ounce. [O/R]
Military strikes by the United States and Israel on Iran showed no sign of lessening, while the Arab nation responded with missile barrages across the region, risking dragging its neighbours into the conflict.
President Donald Trump suggested to the Daily Mail the conflict could last for four more weeks, while posting that attacks would continue until U.S. objectives were met.
SYDNEY, March 16 : Asian markets were in a wary mood on Monday as hostilities in the Gulf kept oil prices elevated, complicating an inflation outlook that should keep most central banks on pause at policy meetings this week, barring one possible hike.In a possible hint of hope, the Wall Street Journal reporte
LONDON, March 16 : Chinese e‑commerce giant JD.com on Monday launched its Joybuy online marketplace in the UK, Germany, France, the Netherlands, Belgium and Luxembourg, stepping up its push beyond its home market and taking aim at market leader Amazon.JD.com wants to internationalise its business and last y
Are China’s latest economic growth targets a sign of stabilisation or decline? Neither framing fits, says Enodo Economics’ Diana Choyleva.
March 15 : Asia-Pacific allies agreed to $57 billion in 22 deals with American companies during this weekend's Indo-Pacific Energy Security Forum in Tokyo, U.S. Interior Secretary Doug Burgum said on Sunday. In an interview on Fox News Channel's "Sunday Morning Futures," Burgum also said Japan is interested
Tesla CEO Elon Musk said on Saturday (Mar 14) that the company's Terafab project to make artificial intelligence chips will launch in seven days.Musk had said last year t
March 14 : ByteDance has put on hold the global launch of its latest video-generation model, Seedance 2.0, after a series of copyright disputes with major Hollywood studios and streaming platforms, The Information reported on Saturday, citing two people with direct knowledge of the situation.Reuters could not
March 14 : Tesla CEO Elon Musk said on Saturday that the company's Terafab project to make artificial intelligence chips will launch in seven days. Musk had said last year that Tesla probably will have to build "a gigantic chip fab" to make artificial intelligence chips. Tesla is designing its fifth-
TOKYO, March 14 : Japan's industry minister Ryosei Akazawa on Saturday asked Australia, Japan's biggest supplier of liquefied natural gas, to boost output in light of the Middle East crisis. Japan relies on the Middle East for around 11 per cent of its LNG imports, with 6 per cent shipped via the Strait of Ho
TOKYO, March 14 : Japan's biggest liquefied natural gas buyer, JERA, has started talks for potential additional purchases with global suppliers to hedge against Middle East supply worsening further, even as a major LNG exporter said the price spike was short-lived.Some 20 per cent of global LNG supply is offl
TOKYO, March 14 : Europe repaid Japan a favour when agreeing on a joint oil stockpile release this week to ease the supply crisis and price spikes caused by the Iran war, Japan's Industry Minister Ryosei Akazawa said on Saturday.The International Energy Agency on Wednesday agreed to release a record 400 milli
NEW YORK/SAN FRANCISCO, March 13 : Meta is planning sweeping layoffs that could affect 20 per cent or more of the company, three sources familiar with the matter told Reuters, as Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about by AI-assisted wo
Despite President Donald Trump’s blustering that America benefits when oil prices surge, crunch time is fast approaching for both the war and the energy market, says Javier Blas for Bloomberg Opinion.
BOSTON/LONDON, March 13 : Stocks rose on Friday after recent heavy selling, helped by lower oil prices, although uncertainty over the Iran war continues to disrupt energy supplies which is driving concerns over fuel inflation and interest rates.The price of oil fell below $100 per barrel, as an Indian tanker