Middle East
Baseline forecasts 0.9 percent 2026 expansion rates steady amid oil shock divergence
IEA pact aims to ease biggest energy crisis as gasoline hits $4.30 record
Central bank keeps policy steady in 6–3 vote as market expected
Country implemented fuel rationing and 35 percent price hike to preserve foreign reserves
Fed officials forecast slower progress toward 2 percent inflation goal amid energy volatility
Wheat up 4.3 percent from U.S. crop fears and Australian planting cutsÂ
Esxports surge was driven by monetary gold and natural gas
Birol noted the IEA is actively consulting with governments across Europe and Asia regarding release of additional stockpilesÂ
Plan designed to finance subsidies aiming to curb gasoline pricesÂ
Dollar is set for second weekly decline
64.9 million young people worldwide were unemployed in 2023
Foreign carriers operated only 60 percent of pre-pandemic flights to China last month
Rapid population doubling projected in 9 developing countries by 2054 due to very high growth rates
The IEA has forecast an oil demand growth of 970,000 barrels per day (bpd) in 2024
SaaS spending is forecast to grow 20 percent to reach a total of $247.2 billion in 2024
U.S. employment data supported gold prices, which rose over 2 percent by the end of last week
Brent crude should return to the $90 per barrel mark as demand exceeds historic levels this year
Gold prices have established a support base around the $2,280 mark over the past week
Diminishing geopolitical concerns and a reevaluation of interest rate expectations impact bullion
OPEC+ is likely to extend its voluntary oil output cuts of 2.2 million barrels per day beyond June
Surprise increase in U.S. crude inventories and prospects of a ceasefire in the Middle East add downward pressure on prices
U.S. crude production escalates to 13.15 million barrels per day in February
