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Stay informed with free updates Simply sign up to the Oil myFT Digest — delivered directly to your inbox. G7 finance ministers said they would take the “necessary measures” to tackle the surge in oil prices but stopped short of agreeing on a release of strategic petroleum reserves after an emergency meeting on Monday. In…
Yet, analysts do not think inflation will return to the peak of 11.1% seen in the UK in October 2022. That is because the war in Ukraine also caused spikes in the prices of basic foodstuffs, such as wheat and edible oil, owing to the role of Ukraine in producing those items. That is not…
Releasing 300 million barrels of oil will not address all issues. As powerful as the G7 is, China, India, and South Korea remain the key customers for physical supply of Gulf oil and gas. As such, gas tankers from the US that had been bound for Europe are now doing Atlantic U-turns and heading for…
“Foreign workers play a very important role when it comes to Spain’s macroeconomic success: the growth of its GDP, its strong and resilient labour market,” Elma Saiz, Minister for Inclusion, Social Security and Immigration, tells the BBC. She underlines that, of the country’s 22 million registered workers, 14.1% are foreigners.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investors have trimmed bets on the number of interest rate cuts this year as surging petrol prices and a softening jobs market complicate the Federal Reserve’s ability to boost the US economy while containing inflation….
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Iran’s military warned that it would continue to target US forces across the Middle East, hours after the Islamic republic’s president said Tehran would halt attacks on Gulf states, which are home to American bases. In a recorded video aired on state television on Saturday, President Masoud Pezeshkian apologised for the assaults on Iran’s Arab…
