Oil prices will be at $70 a barrel in the first quarter of 2022, Iraq's oil minister predicted. Earlier this week, Brent rose above $76 for the first time in a month and a half. Oil prices will be around $70 a barrel in the first quarter of 2022. This was announced by Iraqi oil minister Ihsan Abdul Jabbar, Bloomberg reports. According to the minister, the price will be affected by the...

Credit Suisse investors will have to pay $145 million to allow fintech startup Greensill Capital, which filed for bankruptcy earlier this year, to continue its existence, the Financial Times reports. The British-Australian startup, once considered one of the most successful in its sector, declared bankruptcy earlier this year. Credit Suisse, which had once allocated $10bn to the startup in its...

The European Central Bank currently does not expect interest rates, which have been low for a long time, to rise in 2023, said a spokesman for the regulator. The last ECB meeting was held in September, following which the watchdog kept the base rate at zero level. In this case, the Governing Council of the ECB at the meeting admitted the possibility of reducing the rate of asset purchases within...

US retail sales rose 0.7% month-on-month to $618.7bn in August, the US Department of Commerce said on Thursday, 16 September. August's increase came as a surprise - analysts polled by Reuters expected a 0.8% drop in sales amid the spread of the delta strain of coronavirus. In July, retail sales fell 1.8% (based on revised Commerce Department figures). The growth was helped by good online sales,...

The value of shares of producers and distributors of cannabis has been falling since the beginning of the year, in some cases the securities have already lost about 40%. The value of shares of Canadian producers and distributors of cannabinoids for medical and recreational purposes has been declining since the beginning of this year.  Canopy Growth Corporation plummeted 39% to $15.05 on...

Global oil demand remains under pressure due to the spread in Asia of the delta strain of the coronavirus: in the third quarter, consumption may decrease by 310 thousand bpd, according to the September review of the International Energy Agency (IEA) on the oil market. Nevertheless, demand could rise to 99.1 million bpd by the end of the year, up 4.7 million bpd from the end of 2020 (but still 1.1...

Electricity prices in European countries have risen to record levels, according to The Wall Street Journal. According to analytical company ICIS, the price per megawatt-hour in the UK has risen almost threefold since the beginning of August, and almost sevenfold since September 2020, amounting to €331. This is a record since 1999. In Germany, the increase was less significant; nevertheless, the...

Italy is threatened by rising pasta prices due to a drop in durum wheat production. One of the largest pasta producers in the country said that there has never been such a thing in the 110 years of the company's work. Italians may soon face rising pasta prices due to falling durum wheat production, reports Il Sole 24 Ore newspaper.  "Our family has been in this business for 110 years, but...

China's State Reserve Administration has announced that it will release crude oil from its national reserves to the market to ease the burden on businesses due to rising commodity prices, Xinhua news agency reported Sept. 9. The National Food and Strategic Stocks Administration said that the release, which will be carried out in batches, is mainly aimed at Chinese enterprises that practice the...