Britain’s cost of living crisis is worsening as rents and utility bills rise

The Bank of England warned last week that the UK will slip into recession later this year. The expected recession is expected to be the longest since the global financial crisis. Vuk Valcic | SOPA images | Light Rocket | Getty Images A skyrocketing energy price cap and dazzling rents are just two contributing factors … Read more

Oil dips lower as halted Russian pipeline flows appear temporary, demand fears mount

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, US Nov. 22, 2019. REUTERS/Angus Mordant Register now for FREE unlimited access to Reuters.com Register Russia’s oil exports halted via southern leg of Druzhba . pipeline EU proposes ‘final’ text to revive Iran nuclear deal … Read more

Ukraine halted oil flows to Europe over payment difficulties, Russia’s Transneft . says

The receiving station of the Druzhba oil pipeline between Hungary and Russia is seen at the Danube Refinery of the Hungarian MOL Group in Szazhalombatta, Hungary, May 18, 2022. REUTERS/Bernadett Szabo/File Photo Register now for FREE unlimited access to Reuters.com Register Ukraine Pipeline Operator Was Paid, But Money Back – Transneft Shipments stopped since 4 … Read more

Wage inflation, used car prices may jump higher: Jim Bianco

According to market forecaster Jim Bianco, Washington’s efforts to curb inflation will fall especially short this year. And he believes this week’s key inflation data will help prove it. “I don’t see anything that will lower inflation. There are some things that could lower prescription drug prices and maybe a few other things,” the president … Read more

Opinion: Repurposing LNG infrastructure for hydrogen export is not realistic

German Chancellor Olaf Scholz and Prime Minister Justin Trudeau take a walk during their bilateral meeting on the sidelines of the G7 summit at Elmau Castle in Kruen, near Garmisch-Partenkirchen, Germany, on June 27.Kerstin Joensson/AFP/Getty Images Johann Whitmoresenior researcher, chair in Energy Sector Management, HEC Montréal, en Paul MartinChemical Engineer and Process Development Expert, co-founder … Read more

UK withdrawals hit record high as Brits struggle with inflation

Post Office has attributed the record amount for in-person cash withdrawals in its 11,500 branches to more staycations in the UK and people using cash to manage their budget. gannet77 | Getty Images The UK post office, which offers both banking and postal services, processed a record £801 million ($967 million) in personal cash withdrawals … Read more

Oil falls amid recession fears, slow recovery of imports from China

FILE PHOTO – An oilfield worker works on a pump jack at PetroChina’s Daqing oil field in northeast Heilongjiang province, Nov. 5, 2007. REUTERS/Stringer (CHINA) Register now for FREE unlimited access to Reuters.com Register SINGAPORE, Aug. 8 (Reuters) – Oil prices fell on Monday and remained near their multi-month low as recession fears hurt demand … Read more

Potential curbing of Australian LNG exports is another blow to Asia-Pacific gas markets

The Asia-Pacific gas market has taken another blow after major natural gas producer Australia indicated it could potentially cut liquefied natural gas exports as the region struggles with tight gas supplies, high prices and competition from gas-poor European buyers. Australia aims to cut its overseas sales in favor of domestic consumption ahead of an expected … Read more