The escalating Israel-Hamas conflict and Russia’s ongoing war in Ukraine may trigger a “dual energy shock” in the global economy, according to a recent report by the World Bank. The conflicts have already resulted in a 6% increase in oil prices and disruptive effects on commodity markets. This situation has…

Investors are closely monitoring the central bank meetings scheduled for this week, particularly the US Federal Reserve’s policy outlook. This scrutiny comes as geopolitical tensions between Israel and Hamas have bolstered gold prices around $2,000, setting bullion on track for an 8% rise this month, according to Manav Modi from…

By Polina Devitt, Clara Denina and Mimosa Spencer LONDON/PARIS (Reuters) – The global diamond sector is scrambling to get ahead of an upcoming G7 ban on Russian gems, with consumers and producers battling to manage ever more complex supply chains against a backdrop of sluggish demand. With direct sales of…

The World Bank, in its recent Commodity Markets Outlook report, has issued a warning about the potential for a global oil crisis due to escalating tensions in the Israel-Hamas conflict. The report suggests that under a “large disruption” scenario, similar to the Arab oil embargo during the Yom Kippur War…

UBS and PwC emerged as leading advisers in the power sector’s M&A landscape for Q1-Q3 2023, according to data released by GlobalData. UBS advised on deals worth $17.1 billion, securing its position through key roles such as the $15 billion Toshiba (OTC:) acquisition by TBJH. In terms of volume, PwC…

Pakistan has announced a significant increase in prices for a majority of households and the industry, as it prepares for the International Monetary Fund’s (IMF) inaugural review of its $3 billion Stand-By Arrangement (SBA) loan program. The review, led by Nathan Porter of the IMF, is set to take place…

By Leah Douglas (Reuters) – A group of local U.S. government officials from 18 states on Tuesday urged the Environmental Protection Agency to phase out food waste disposal in landfills by 2040 to cut emissions of the potent greenhouse gas methane. Food waste causes 58% of the methane emissions that…

By Arathy Somasekhar HOUSTON (Reuters) – Energy pipeline operator Enterprise Products Partners (NYSE:) will expand its liquids (NGLs) operations, adding a pipeline from Texas’ Permian Basin, new plants to process natural gas, and converting an oil pipeline in Texas to NGLs, officials said on Tuesday. The energy infrastructure provider has…

By Marcelo Teixeira NEW YORK (Reuters) – Prices for orange juice rose on Tuesday to the highest since future contracts started trading in New York in 1966 as an outlook for limited production in the United States, Brazil and Mexico boosted investors’ interest in the product. The January contract of…

By Stephanie Kelly NEW YORK (Reuters) – U.S. field production of rose to a new monthly record in August at 13.05 million barrels per day, the Energy Information Administration said on Tuesday. Output rose 0.7% in August from the month prior, the data showed. The previous monthly high was in…