Oil Prices news and archive

What rising energy prices mean for fashion, retail and manufacturing

Oil markets have surged to multi-year highs as tensions between the US and Iran intensify, with Brent crude climbing above 120 dollars per barrel. According to Bloomberg, prices briefly spiked by more than 7 percent to over 126 dollars amid fears of prolonged disruption in the Strait of Hormuz, one of the world’s most critical oil transit...

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Oil at 200 dollars a barrel: Middle East conflict sends shockwaves through fashion

As the global conflict involving Iran escalates, the prospect of oil prices climbing towards 200 dollars a barrel no longer feels implausible. Fashion businesses across the UK and Europe are once again bracing for volatility, as energy markets react sharply to geopolitical risk. From fibre production and manufacturing to freight costs and...

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Business

Stock markets see sharp decline and halt trading

On Monday the New York Stock Exchange halted trading after indexes reacted to Saudi Arabia's oil-price cut. This is also in reaction to the coronavirus crisis plaguing the globe, with 111,753 cases reported globally so far according to worldometers. In early trading the Dow Jones Industrial Index dropped 1900 points, a decline of 19 percent from...