Concerns about financial stability in the United States and Europe are helping to push gold prices to new heights. The price of gold rose above $1,600 an ounce for the first time in New York trading on Monday. While the price fluctuated in Tuesday’s trading, some economists say even higher prices are possible. Investors traditionally […]
Debt Worries Contribute to Gold Price Increase
G20 Targets High Food Prices
Twenty of the world’s most important economies have agreed on measures aimed at controlling high and volatile food prices. Meeting together for the first time, agriculture ministers from the G20 group of leading and emerging nations committed thermselves to increasing regulation of commodity markets. They made plans to set up an emergency humanitarian food reserve […]
Oil Importers Release Emergency Supplies To Ease Prices
(new info grafs 3 & 5) The 28 member nations of the International Energy Agency say they will release millions of barrels of oil from emergency stocks over the next month to make up for production curtailed by fighting in Libya. IEA officials say disruptions in Libya have kept 132 million barrels of high grade […]
Oil Importers Release Emergency Supplies To Ease Prices
The 28 member nations of the International Energy Agency say they will release millions of barrels of oil from emergency stocks over the next month to make up for production curtailed by fighting in Libya. IEA officials say disruptions in Libya have kept 132 million barrels of high grade crude oil off the market, contributing […]
Higher Food Prices Here to Stay
People around the world could soon see more dramatic increases in food prices. A report released Friday warns cereal prices could jump as much as 20 percent over the next decade, while prices for meat could increase by almost one-third. The findings are part of the latest outlook from the Organization of Economic Cooperation and […]
Oil Prices Fall
The price of crude oil dropped sharply Wednesday as traders worried that economic troubles in Europe, and some disappointing economic reports in the United States, might slow demand. In New York, the cost of a barrel of crude oil for future delivery fell more than $4, dropping below $95 a barrel for a while. The […]
Belarus President Slashes Fuel Prices Following Protests
Belarus President Alexander Lukashenko on Wednesday slashed the prices of fuel following protests along the streets of the capital, Minsk. The government had raised the cost of fuel by 30 percent the day before, prompting hundreds of motorists to stage a protest rally along the main avenue in the capital city. Meanwhile, Russia’s state-controlled exporter […]
Belarus President Slashes Fuel Prices Following Protests
Belarus President Alexander Lukashenko on Wednesday slashed the prices of fuel following protests along the streets of the capital, Minsk. The government had raised the cost of fuel by 30 percent the day before, prompting hundreds of motorists to stage a protest rally along the main avenue in the capital city. Belarus is struggling with […]
Prices Rise After OPEC Says No New Deal On Oil Production
Members of the Organization of Petroleum Exporting Countries did not reach a new agreement on oil production quotas at Wednesday’s meeting in Vienna. Oil prices rebounded in New York and London after the news. Oil prices had been declining in anticipation that OPEC members might work out a deal to boost production. The OPEC nations […]
UN: Food Prices Slightly Lower in May But to Stay High, Volatile
A United Nations agency says global food prices fell slightly in May but will remain “stubbornly” high for the rest of the year and into 2012. The Food and Agriculture Organization released a price index Tuesday that shows food prices dropped 1 percent in May compared with April — but remain 37 percent above what […]