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16.06.26 - 12:33
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China′s Return To The Oil Market Could Boost Inflation (ZeroHedge)
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China's Return To The Oil Market Could Boost Inflation
Submitted by Tsvetana Paraskova of OilPrice.com
The U.S.-Iran agreement to reopen the Strait of Hormuz could prompt China to return to buying more crude after months of multi-year-low purchases, which could reignite inflationary pressures despite the expected ease of oil flows from the Middle East.
Late on Sunday, the U.S. and Iran announced a deal to reopen the Strait of Hormuz more than 100 days after its closure. This re-opening could happen as soon as an agreement is signed on Friday. News of the deal sent oil prices tumbling early on Monday, with Brent Crude prices down to $83 per barrel, and WTI Crude at the $80 a barrel handle.
If the agreement holds and flows through the Strait of Hormuz, begin to tick up relatively quickly, China could resume buying more crude, and this additional demand, which had vanished in the past three months, could tighten the oil market and drive up inflation, analysts at Bloomberg Economics said in ...
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16.06.26 - 11:36
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Bank of Japan raises interest rates to 31-year high amid Iran war inflation pressures (The Guardian)
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Country follows ECB in increasing borrowing costs, but US Fed and Bank of England expected to hold ratesBusiness live – latest updatesThe Bank of Japan (BoJ) has raised interest rates to a 31-year high as it tries to dampen inflationary pressures created by the Iran war.Policymakers in Tokyo raised the BoJ's short-term policy rate by a quarter of one percentage point, to 1% from 0.75%, and warned that companies were passing on rising oil costs to each other at a “relatively fast pace”. Continue reading......
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16.06.26 - 11:12
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Italy Inflation Confirmed At 32-month High (AFX)
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ROME (dpa-AFX) - Consumer price inflation in Italy accelerated further in May to the highest level in more than two-and-a-half years, as estimated initially, the latest data from the statistical o......
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16.06.26 - 08:36
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Japan hikes interest rates to highest since 1995 to fight inflation from Iran war; Thames Water rescue in doubt – business live (The Guardian)
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Rolling coverage of the latest economic and financial newsThames Water has moved a step closer to nationalisation after government ministers reportedly formally objected to the £10bn rescue deal proposed by its creditors.According to The Times this morning, environment secretary Emma Reynolds has written to water regulator Ofwat this week to raise concerns about the plan for the struggling, indebted utility giant.Reynolds is understood to be concerned that the creditors' offer for Thames Water is “weak”, not least after “15 years of mismanagement and failure”.Those who support placing Thames into special administration argue that this would give the company a fresh start by forcing existing investors to write off losses and allow the company to be sold without its existing debt pile. Continue reading......
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