Energy giant Chevron and unions have struck a deal to end strikes at two large liquefied natural gas (LNG) facilities in Australia.   Workers accepted a proposed agreement put forward by the country’s labour regulator, said the Offshore Alliance, which is a grouping of two unions.   The current industrial action will now be suspended, […]

Global oil prices have surged to the highest level in more than 10 months amid predictions of shorter supplies.   Brent crude, a benchmark for prices, breached $95 per barrel on Tuesday.   It came as the International Energy Agency (IEA) said a decision by Saudi Arabia and Russia to cut production could cause a […]

The head of the International Monetary Fund has acknowledged its limitations to act on climate change, saying other institutions can lead on climate finance.   Kristalina Georgieva said the multilateral lender would “only do what we are good at”.   But she defended its focus so far on climate change after a top US official […]

European polymer prices continued to rise over the week to 15th September. There were increases of 20 EUR per tonne reported in the prices of HDPE, LDPE and LLDPE. In the UK, prices rose across most grades as the Pound lost value against the Euro.   Asian polymers were mixed with increases of between 10 […]

Consumer prices in the US rose by more than expected last month, driven by higher costs for rent and fuel.   The inflation rate, which measures the pace of price rises, was 3.7% over the 12 months to August, the Labor Department said, up from 3.2% in July.   The figures underscore the challenges facing […]

Eurozone interest rates have been hiked to a record high by the European Central Bank (ECB).   The bank raised its key rate for the 10th time in a row, to 4% from 3.75%, as it warned inflation was “expected to remain too high for too long”.   The latest increase came after forecasts predicted […]

  Natural gas prices have jumped after strike action kicked off at two major liquefied natural gas (LNG) facilities in Australia.   The walkouts, in a row over pay and conditions, are taking place at Chevron’s Gorgon and Wheatstone plants in Western Australia.   The US energy giant’s two plants account for more than 5% […]

European polymer prices continued to rise over the week to 8th September. There were increases of between 20 and 80 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE and ABS. In the UK, prices fell across some grades as the Pound gained value against the Euro.   Asian polymers were mixed with […]

Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.   The firm’s stock market valuation has fallen by more than 6%, or almost $200bn, in the last two days.   China is the technology giant’s third-largest market, accounting for 18% […]

No new, UK, offshore wind projects have been bought by developers at a key government auction, dealing a blow to the UK’s renewable power strategy.   Results showed no bids for new offshore wind farms, but there were deals for solar, tidal and onshore wind projects.   Firms have argued the price set for electricity […]