Oil closes below $50 a barrel for first time in a year

Recent discussions in Europe about a gas price cap are said to have been tough, heated and even ugly. The European Commission has put a proposal on the table, but EU member states are finding it difficult to reach a compromise among themselves – despite giving their political support to a gas price cap in late October.

A scientist is now producing organic fertilizer in a bid to create a cheaper and more viable alternative to imports.

The consequences of the war in Ukraine are even being felt in Tunisia. In Kairouan, rising food and energy prices mean Najwa Selmi is faced with a tough decision: to buy food or send her children to school.

Gas prices in Europe have fallen to pre-Ukraine invasion levels and it seems we might avoid a full-blown energy crisis this winter. But experts expect a tough winter 2023/24.

The government in Buenos Aires has imposed price caps on many goods to rein in runaway inflation. While the curbs are welcomed among low income locals, economists doubt they will remedy the country's persistent problem.

The oil production cuts will total more than a million barrels per day — the biggest reduction since OPEC slashed two million barrels a day in October.

Supply chain bottlenecks and the war in Ukraine caused inflation to soar. Now, policymakers are pointing to high corporate profits as another driver of increased consumer prices. Will governments intervene?

Wonuola Akanbi, the Head of Energy and Infrastructure sales, Global Markets at Stanbic IBTC Bank, joins CNBC Africa to discuss the dynamics in the global oil market and how it impacts Nigeria.

German consumers are looking less concerned when shopping for groceries these days, as prices for food have begun falling slowly. But is peak inflation behind them?

People in Nigeria have been rushing to buy fuel amid soaring prices since the country's new president, Bola Tinubu, announced the end of subsidies. Nigeria's state oil company says it was spending over 800 million dollars each month on the subsidy.

The move to slash supplies by 1 million barrels per day in July is "extendable," said Riyadh. Members of the OPEC+ grouping also agreed to extend cuts previously agreed in April until the end of next year.

In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European space rocket Ariane 5 gears up for its final lift-off and Singaporean bank UOB makes a winning bet on Taylor Swift fans.