prices

Stocks in the U.K. and U.S. rose while Asian indexes tumbled Wednesday as oil and gas prices whipsawed on fears the U.S.-Israel conflict with Iran will drag on and keep choking traffic through the Strait of Hormuz, a vital energy artery. The FTSE 100 and major U.S. and European benchmarks rebounded after two days of declines; several Asian markets fell sharply for a third straight session. Brent crude is up about 12 percent since Saturday, when U.S. and Israeli forces began bombing Iran and Tehran retaliated with strikes on…

Somalia fuel prices jump 77% in 72 hours as Middle East conflict disrupts supply MOGADISHU, Somalia — Fuel prices in Somalia’s capital have surged about 77% within three days, an abrupt spike tied to the escalating Middle East conflict that is rattling energy markets and shipping lanes through the Red Sea and the Gulf of Aden. Market observers in Mogadishu said the retail price of petrol jumped to about $1.15 per liter from roughly $0.65 earlier this week, with the steepest increases posted by Friday evening. The surge…

Oil prices steady as U.S., Israeli strikes on Iran snarl Hormuz shipping and force Iraq output cuts Oil prices were steady after sharp swings Wednesday as U.S. and Israeli strikes against Iran escalated the conflict and left shipping through the Strait of Hormuz effectively shut for a fifth day, disrupting vital Middle East oil and gas production and trade. Brent crude fell 0.3% to $81.13 a barrel around 4 p.m. GMT, while West Texas Intermediate slipped 0.4% to $74.30. Both benchmarks had closed Tuesday at recent highs—Brent…

Oil and gas prices jumped Monday as escalating Iranian strikes across the Middle East snarled shipping lanes, hit energy infrastructure and stoked fresh inflation fears in global markets. European natural gas futures spiked as much as 50% intraday before closing 39% higher after QatarEnergy halted liquefied natural gas production following drone attacks on facilities in Ras Laffan Industrial City, according to the country’s defense ministry. Brent crude briefly touched $82 a barrel after at least three ships were attacked…

Oil and natural gas prices surged as Israeli and U.S. strikes on Iran and retaliatory attacks by Tehran forced shutdowns of energy facilities across the Middle East and snarled shipping in the Strait of Hormuz, one of the world’s most critical maritime chokepoints. A sustained rise threatens to undercut the global recovery, stoke inflation and lift U.S. gasoline prices — a political risk for President Donald Trump and Republicans ahead of November’s midterm elections. Brent crude futures jumped as much as 13% to $82.37 a…

NAIROBI, Kenya (AX) — A fresh initiative is underway with Kenya inaugurating a revamped pricing panel to tackle the plummeting cost of miraa, known as khat in Somalia. This vital cash crop supports thousands of farmers, with the strategy centered around boosting exports to Somalia, the predominant purchaser of Kenyan miraa. The panel's mission is clear: to stabilize miraa and muguka prices and enhance farmer revenues. The nine-strong committee, a brainchild of the Agricultural and Food Authority (AFA), boasts members from…

In the Democratic Republic of Congo, prices of basic necessities were under pressure due to the war in Ukraine. The head of the Congolese government, Jean-Michel Sama Lukonde, mentioned the problem on Wednesday, March 16, 2022, during an economic situation…

In Guinea, a few weeks before Ramadan, in a country that is more than 85% Muslim, women challenged the head of state, Colonel Mamadi Doumbouya, about the high cost of living and suffering in the household basket, on March 8. The head of state immediately urged…

The talks between the Ministry of Economic Affairs and the employers seem to be bearing fruit. Already some progress can be observed. The new air fares have thus fallen between 40% and 70%. as reported from Kinshasa, Kamanda Wa KamandaFrom now on, it will cost about $ 224 for a single ticket from Kinshasa to Lubumbashi, the…

Within the Democratic Republic of the Congo (DRC), the outbreak of violence in Beni's territory is critically affecting the economic system of the area. Farmers are abandoning their fields for areas which can be thought of safer. Consequence for instance: rising market costs in the town of Beni. Consumers and sellers hope for elevated safety.…