Oil Edges Lower With China Unrest Rippling Through World Markets

Oil’s recent leg lower is the latest twist in what’s been a tumultuous year, with volatility driven by the war in Ukraine, aggressive central bank tightening to combat inflation, and China’s relentless attempts to eradicate Covid-19. In recent days, European Union diplomats have been locked in talks over cap on Russian crude prices, with negotiations … Read more

Truss, Johnson Join Rebellion Against Sunak for Onshore Wind

Wind turbines on the Bradwell Wind Farm, near to the decomissioned Bradwell nuclear power station, site of the planned Bradwell B project, in Bradwell-on-Sea, U.K., on Friday, Feb. 11, 2022. British regulators approved a Chinese-designed nuclear reactor that could be used at the plant in southeast England being developed by China General Nuclear Power Corp. … Read more

India Seeks to Shrink Budget Deficit as Global Headwinds Loom

Finance Minister Nirmala Sitharaman will seek to shrink the shortfall to less than 6% of gross domestic product in the year starting April 1, the people said, asking not to be identified as the deliberations are private. Her presentation due Feb. 1 will be the final full-year budget before citizens elect their new prime minister … Read more

G-20 Provides Momentum on Key Climate Goal as Talks Near Climax

G-20 leaders meeting in Bali, Indonesia agreed to pursue the target laid out in the landmark Paris Agreement in 2015, even as the energy crunch triggered by Russia’s invasion of Ukraine threatened to undermine it. That’s giving hope that it will inject much-needed momentum as the climate conference in Egypt enters its final days.

EU Piles Pressure on Iran as Tehran Sentences Protester to Death

The penalties, which apply travel bans and asset freezes to 29 individuals and three entities, also target members of the Islamic Revolutionary Guard Corps, the commander of the Army’s ground forces, plainclothes Islamic militias and Press TV, an English-language news channel that’s owned and run by Iran’s state broadcaster. 

Russia’s Crude Shipments Hit Five-Month High Before Sanctions

Cargoes shipped from Russia rose to 3.6 million barrels a day, the highest since early June, while the less volatile four-week average was also up, reaching the most since August.The UK has followed the EU’s lead in banning its companies from providing insurance and other service to ships carrying Russian crude, unless the cargo is purchased at a price … Read more

Election Day Opens With Americans Set to Deliver Verdict on Biden Agenda

(Bloomberg) — A deeply divided US electorate delivers its verdict Tuesday on whether Democrats or Republicans have the right prescription to guide the nation through a bout of inflation, a looming recession and bitter splits on cultural and social issues. Voters will decide control of Congress as well as state capitals across the country, but … Read more

What Happens After Warming Hits 1.5C? A Guide to Climate Overshoot

(Bloomberg) — The diplomats and world leaders now gathered in Egypt for the annual United Nations climate summit are tasked, in some sense, with holding the global average temperature below 1.5 degrees Celsius of warming. That’s one of the key objectives around which the 2015 Paris Agreement was formed, and so it has become a shorthand for the success … Read more