MARKETS

Asian stocks bounced on Tuesday after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying bonds and the pound.

U.S. President Joe Biden will co-host a food security summit later in September while in New York for the annual gathering of world leaders at the United Nations, U.S.

Oil prices climbed on Thursday, paring some of their steep losses in the previous session, as the potential for an energy standoff between European nations and Russia overshadowed fears of recession and rising inflation.

Japan need not intervene in the exchange-rate market to stem yen falls, as such a move would be ineffective in countering broad dollar gains, former top currency diplomat Hiroshi Watanabe told Reuters on Wednesday.

Oil prices slipped early on Tuesday, paring the previous session's 3% gain, as an OPEC+ deal to cut output by 100,000 barrels per day in October was seen as a largely symbolic move to stem the market's recent slide.

European markets, euro tumble as Russia fans energy crisis

Asian shares slipped on Monday while the euro took a fresh spill after Russia shut a major gas pipeline to Europe, leading some governments there to announce emergency measures to ease the pain of soaring energy prices.

Europe faces massive increases in energy bills driven by rocketing gas prices as the Ukraine conflict and European sanctions on Russia heighten concerns over gas supplies.

OPEC+ is likely to keep oil output quotas unchanged for October at a meeting on Monday, five OPEC+ sources said, although some sources would not rule out a small production cut to bolster prices that have slid due to fears of an economic slowdown.

In a statement, Gazprom indicated it had discovered "oil leaks" in a turbine during a planned three-day maintenance operation.

Japanese Finance Minister Shunichi Suzuki said on Friday that Tokyo will take "appropriate" action as needed on the yen's slide to a fresh 24-year low against the dollar, signaling the chance of intervention to address market volatility.

Asian stocks slid and the dollar spiked on Thursday as investors greeted September by selling everything that was not nailed down after a month battered by concerns about aggressive rate hikes from global policymakers.

Finance ministers from the Group of Seven club of wealthy nations will discuss the U.S.

Natural gas a few years ago was so unwanted that U.S. shale oil producers sold it at cost just to pump more oil.

The Nord Stream 1 pipeline that transports gas from Russia to Germany will undergo maintenance from Aug.31 - Sept.

Oil prices fell on Tuesday after notching their highest gains in more than a month in the previous session, as global inflation worries overshadowed the prospect of possible OPEC+ output cuts.

The dollar closed in on the 140-yen mark not seen since 1998, but an easing in European gas prices helped the euro limit its losses.

Energy ministers from EU member states will hold urgent talks in Brussels on September 9.

Spain wants to become the new gateway for gas through an ambitious trans-Pyrenees pipeline and is hoping supply-starved Germany will pressure a reluctant France.

Oil prices were mixed on Monday as investors balanced expectations the OPEC will cut output to support prices against concerns sparked by Federal Reserve Chairman Jerome Powell saying the United States will face slow growth "for some time".

The 13% rally in the S&P 500 from its June lows will soon run into what has historically been the toughest month for the U.S.

Hungary's central bank is expected to raise its base interest rate by 100 basis points to 11.75% next Tuesday.

Oil prices rose in early trade on Friday on signs of improving fuel demand, though gains were capped as the market awaited clues from the U.S.

It will be a chilly winter for global stocks, according to analysts in a Reuters poll who cut year-end predictions for most major indices from three months ago and warned the risks to that already-dull outlook were skewed to the downside.

Russia's stock market will pare some of its heavy 2022 losses by the end of the year, according to a Reuters poll of ten market experts, having fallen sharply after Moscow dispatched troops into Ukraine, triggering sweeping western sanctions.

Global fertilizer companies operating in Brazil can increase local output of important crop nutrients if the government continues to improve the regulatory framework for the sector, industry representatives said on Tuesday.

Oil prices edged up on Tuesday, after Saudi Arabia warned that OPEC could cut output to correct a recent drop in oil futures.

Oil prices fell on Monday, ending three days of gains, on fears aggressive U.S. interest rate hikes may lead to a global economic slowdown and dent fuel demand.

Guterres travelled this week to Ukraine, where he met the presidents of Ukraine and Turkey, Volodymyr Zelensky and Recep Tayyip Erdogan, in the western city of Lviv Thursday