The global oil market points to short-term weakness ahead of the EU embargo on Russian oil

NEW YORK (Reuters) – The global oil market is signaling a possible turnaround, as traders and analysts worry about lower demand for crude and an oversupply market in the coming months. After months of strength, crude oil futures are tipping to lows not seen all year as top oil consumer China enters additional COVID-19 lockdowns … Read more

The Fed raised interest rates by 50 basis points, but the peak interest rate could be higher

BENGALURU (Reuters) – The Federal Reserve will cut back in December to raise interest rates by 50 basis points, but economists polled by Reuters say a longer period for US central bank tightening and higher rate hikes are the greatest. Risks to the current outlook. US consumer inflation unexpectedly fell below 8% last month, reinforcing … Read more

COP27: Polluters must pay for climate change, poor countries say to the rich

Island nations demand global carbon tax “While they win, the planet is burning” Fears grow over hunger striker imprisoned in Egypt SHARM EL-SHEIKH, Egypt (Reuters) – Leaders of poor countries criticized rich governments and oil companies for causing global warming, using their speeches on Tuesday at the COP27 climate summit in Egypt to demand that … Read more

African heritage sites in danger as the planet warms

Dozens of African monuments threatened by climate impacts The ruins of Carthage, Sabratha and Mount Kilimanjaro are in danger Lack of Funding, Research Hinders Conservation Efforts NAIROBI, Nov 8 (Thomson Reuters Foundation) – From the snow-capped summit of Mount Kilimanjaro to the ruins of the ancient Tunisian city of Carthage and Senegal’s slave island of … Read more