Oil prices jump to highest level since 2014 on supply concerns
By France24
19 January 2022 |
11:19 am
Brent crude topped $88 a barrel in Tuesday trading, its highest level since October 2014 - creating a further potential headache for squeezed UK consumers if the increase is passed on to petrol pumps.
Related
14 Oct 2021
The European Commission is outlining a set of measures that would allow EU member states to keep fuel and electricity prices low.
16 Oct 2021
Nigeria's dependence on crude oil makes its economy vulnerable. But the transition to an economy not based on oil won't be easy.
14 Oct 2021
Officials are scrambling to help clear supply chain backlogs, with two of the US's largest ports operating 24 hours per day as traffic jams of container ships wait offshore. Also, the IMF unveils a new mechanism for rich countries to lend or donate to poor nations, and Hollywood braces for the biggest crew strike since the 1940s.
23 Oct 2021
Speaking on state TV, Russia's deputy prime minister addressed Europe's gas supply crunch. Prices have increased 800% this year, which Russia blames on reserve shortfalls.
23 Oct 2021
In Turkey, young people recently expressed their frustration with the authorities when students protested an ongoing spike in housing prices. This protest movement reflects the growing difficulties of the general population amid sky-high living costs, even as the government refuses to acknowledge the economic crisis. Our Istanbul correspondents Ludovic de Foucaud, Hussein Asad and Shona Bhattacharyya report.
24 Oct 2021
Saudi Arabia is creating the "world's first tourism destination on offshore platforms" as part of a drive to diversify the economy away from oil. The Rig will be an oil-themed “extreme park” that will be sitting atop a converted oil rig in the Arabian Gulf.
27 Oct 2021
Meet the Nigerian startups that are digitizing the Nigerian food supply chain, helping merchants navigate high food inflation and avoid crowded markets during the COVID-19 pandemic. Vendease and Sabi have created digital marketplaces that allow wholesalers, shopkeepers and restauranteurs to purchase directly from farmers and manufacturers at more affordable rates.
27 Oct 2021
Russia and Germany are keen for full regulatory approval of the natural gas pipeline as European faces an energy crunch. Critics say the pipeline increases the EU's dependency on Russian gas.
28 Oct 2021
Africa's abundant sunshine is ideal for renewable energy production. But the continent relies heavily on crude oil. Experts warn that the economy will continue to suffer if governments don't wean themselves off of oil.
29 Oct 2021
The WikiLeaks' founder is currently fighting an appeal by Washington to extradite him back to the US. Assange's legal team has rejected US assurances that he won't be sent to a "Supermax" prison.
31 Oct 2021
Consumer demand is driving continued recovery, but Europe's largest economy grew by a less-than-expected 1.8% in the third quarter. Supply chain hold-ups prevented some manufacturers from producing at full capacity.
Latest
53 mins ago
On Friday 13th May 2022, a 37-year-old sound Engineer, David Imoh popularly called Dave Sound was lynched and burnt by a mob of motorcycle operators, on Admiralty way, in Lekki, Lagos. GuardianTV reached out to David's Widow, Grace who narrated her ordeal.
1 hour ago
Here are a few reasons to pick up a copy of The Guardian on Tuesday. Find these stories and much more when you grab a copy of The Guardian on Tuesday.
2 hours ago
Pro-choice demonstrators are rallying across the US in opposition to the Supreme Court's draft opinion that could scrap the right to abortion. Protesters say it is only the beginning of their fight against the decision.
2 hours ago
Top G7 diplomats meeting in Germany have warned the war in Ukraine is stoking a crisis that threatens the world's poorest. They also pledged to continue their military assistance to Ukraine for "as long as necessary."
4 hours ago
Nigerian entrepreneur Mustapha Gajibo has been converting petrol mini-buses into electric vehicles at his workshop, but he is now going a step further to build battery-powered buses from scratch in a push to promote clean energy and curb pollution.
4 hours ago
On May 9, Russians mark the defeat of Nazi Germany. But this year, Latvia has banned celebrations on that day, in light of the war in Ukraine. DW's Juri Rescheto went to Latvia's majority Russian-speaking city of Daugavpils to find out how that's going down.