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.…

The World Food Program (WFP) is sounding the alarm about rising food prices in West Africa, a region already weakened by conflict. It could drive more than 31 million people to food insecurity as the lean season approaches. In West and Central Africa, WFP is calling avoid a "food disaster". More than 31 million people in the region are expected to become food safe in the region, a figure more than 30% higher than last year. And according to WFP, this figure represents the highest level in almost ten years. On average,…

Prices of imported basic products are still stable or rising in the Central African Republic, despite the gradual resumption of traffic on the corridor connecting Douala to Bangui. This is the case, for example, with the cement price, which has risen by more than 50% since the crisis began in December. "Here's the site,…

The cashew campaign is in full swing in West Africa, but production forecasts have been revised downwards as in India and Vietnam. As a result, prices are rising and Asia is expected to need African nuts more than usual this year. The misfortune of Asian cashew producers may well make their West African counterparts happy this year. Concerns are confirmed, the cashew nut campaign among the two major producers in India and Vietnam looks less promising this year. Probably for climatic reasons. As a result, Asian…