logo
#

Latest news with #supplyshortages

Oil prices gain for fourth day on supply fears from Trump tariff threats
Oil prices gain for fourth day on supply fears from Trump tariff threats

Yahoo

time13 hours ago

  • Business
  • Yahoo

Oil prices gain for fourth day on supply fears from Trump tariff threats

By Yuka Obayashi TOKYO (Reuters) -Oil prices gained for a fourth straight day on Thursday, as investors worried about supply shortages amid U.S. President Donald Trump's push for a swift resolution to the war in Ukraine and threats of tariffs on countries buying Russian oil. Brent crude futures for September delivery, which are set to expire on Thursday, rose 27 cents, or 0.4%, to $73.51 a barrel by 0028 GMT, while U.S. West Texas Intermediate crude for September gained 37 cents, or 0.5%, to $70.37 a barrel. Both benchmarks settled 1% higher on Wednesday. The more active Brent October contract was up 29 cents, or 0.4%, at $72.76. "Concerns that secondary tariffs on countries importing Russian crude will tighten supplies continue to drive buying interest," said Toshitaka Tazawa, an analyst at Fujitomi Securities. On Tuesday, Trump said he would start imposing measures on Russia, including 100% secondary tariffs on its trading partners, if it did not make progress on ending the war within 10-12 days, moving up an earlier 50-day deadline. Trump said on Wednesday the United States is still negotiating with India on trade after announcing earlier in the day the U.S. will impose a 25% tariff on goods imported from the country starting on Friday. The U.S. has also warned China, the largest buyer of Russian oil, that it could face huge tariffs if it kept buying. On Wednesday, the U.S. Treasury Department announced fresh sanctions on over 115 Iran-linked individuals, entities and vessels, in a sign the Trump administration is doubling down on its "maximum pressure" campaign after bombing Tehran's key nuclear sites in June. China is the top buyer of Iran's oil. Meanwhile, U.S. crude oil inventories rose by 7.7 million barrels in the week ending July 25 to 426.7 million barrels, driven by lower exports, the Energy Information Administration said on Wednesday. Analysts had expected a 1.3 million-barrel draw. [EIA/S] Gasoline stocks fell by 2.7 million barrels to 228.4 million barrels, far exceeding forecasts for a 600,000-barrel draw.​ "U.S. inventory data showed a larger-than-expected build in crude stocks, but a bigger-than-expected gasoline draw supported the view of strong driving season demand, resulting in a neutral impact on oil market," Fujitomi Securities' Tazawa said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

More than half of Irish estate agents see house prices levelling off soon
More than half of Irish estate agents see house prices levelling off soon

Irish Times

time3 days ago

  • Business
  • Irish Times

More than half of Irish estate agents see house prices levelling off soon

Irish home prices are expected to rise by a further 5 per cent over the next 12 months, amid ongoing supply shortages, according to a survey of estate agent members of the Society of Chartered Surveyors Ireland (SCSI). Joe Brennan reports on the predicted growth. However, 60 per cent of those polled see prices levelling off soon, with a further 18 per cent saying that they have already peaked – after a dozen years of continuous growth. Joe Brennan also reports on Goodbody Stockbrokers making a number of senior hires in a bid to boost the business. A number of staff left the organisation's investment banking area in late 2023, during and after a redundancy programme. Among the appointments is Stephen Kane, a former corporate finance director with the firm, who left in October 2023 for householder Cairn Homes. READ MORE In her latest column, Pilita Clark writes about the really concerning thing about the Coldplay concert scandal. This scandal, of course, concerns the former CEO of tech company Astronomer, who was caught with his arms wrapped around the company's head of human resources. Their embrace was captured on the big screen at the band's concert in Boston and has gone viral. Pilita Clark addresses the barrage of fabricated online statements purporting to be from those with insight. 'Some governments are trying to legislate against this muck, notably in the EU. The Coldplay couple — and the misleading maelstrom that followed their exposure — are a reminder that many more authorities need to join them,' she says. The co-founder of Dublin restaurant group Kinara and president of the Restaurant's Association of Ireland, Seán Collender, revealed the details of the impact of rising input costs that are leaving hospitality businesses on 'an extremely fine line'. 'These are huge, huge costs and we don't sell gold bars, we sell food,' he told Hugh Dooley. We need to enact a specific legal mandate, in the overriding national interest, to drive forward critical projects and avoid the endless round of planning applications, appeals and judicial reviews. Had we done that for the metro, it would have been finished a decade ago, writes John FitzGerald in his weekly column. 'But unless the planning system is reformed, I'm unlikely during my lifetime to ride the metro or drink Shannon water from my tap,' he says. How will the updated National Development Plan shape Ireland in years to come? Listen | 35:59 In 2025, it is both remarkable and disappointing that progress in tackling the gender gap in leadership is taking a backwards step in Ireland, with a 24.8 per cent year-on-year drop in women hired into top jobs here. There are no women leading any of the major Irish companies listed on stock markets, writes Sue Duke , vice-president of global public policy at LinkedIn, in our Business Opinion slot. If you would like to read more about the issues that affect your finances, sign up to On the Money , the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.

Home prices will rise 5% in the next year then level off, say estate agents
Home prices will rise 5% in the next year then level off, say estate agents

Irish Times

time3 days ago

  • Business
  • Irish Times

Home prices will rise 5% in the next year then level off, say estate agents

Irish home prices are expected to rise by a further 5 per cent over the next 12 months, amid ongoing supply shortages, according to a survey of estate agent members of the Society of Chartered Surveyors Ireland (SCSI). However, 60 per cent of those polled see prices levelling off soon, with a further 18 per cent saying that they have already peaked – after a dozen years of continuous growth. Irish residential property prices have soared almost 165 per cent from their post-crisis lows in 2013, the SCSI noted, citing Central Statistics Office (CSO) data. Affordability has worsened over the period, with many dual-income households now facing 'steep deficits when attempting to buy a home', the report said. 'Over the past five years, more than half of agents have consistently highlighted low stock levels, stressing that constrained supply remains a fundamental issue impacting the market,' said SCSI president Gerard O'Toole. READ MORE The Government, formed in January with a strong mandate to tackle the State's housing crisis, is widely expected to fall well short of its target for 41,000 homes to be completed this year as it eyes 300,000 new homes by 2030. The Central Bank of Ireland said earlier this month that it was 'surprised' by the lack of progress and that it now estimates that only 32,500 units to be delivered in 2025. Some 30,330 homes were built in 2024. Mr O'Toole called on the Government to make the new housing activation office, aimed at addressing barriers to the delivery of vital public infrastructure projects needed to enable greater housing development, fully operational 'as soon as possible'. How will the updated National Development Plan shape Ireland in years to come? Listen | 35:59 A dearth of second-hand homes on the market has also driven prices. Sales instructions have also reduced in the past 12 months, according to the SCSI survey. 'The overall activity levels suggest low vendor demand to list properties, which may reflect broader market uncertainties and challenges such as the lack of available stock to move to,' noted the report. The pace of small landlords putting properties up for sale and exiting the market also appears to have eased. Buy-to-let investors accounted for 29 per cent of sales instructions in the first half of the year, down from 40 per cent for the same period in 2024, according to the report. Irish home prices rose at an annual rate of 7.9 per cent in May, led by properties outside of Dublin, according to the latest figures from the CSO. The surge has also been fuelled by falling interest rates. The European Central Bank (ECB) cut its rates for the eighth time in a year last month, leaving its key deposit rate at 2 per cent, half of where it stood in early June 2024 amid a battle against inflation. While the ECB kept rates on hold at a meeting last year, most economists expect it to reduce borrowing costs again later this year, even if US president Donald Trump's rapidly evolving tariff policies are complicating decision-making across monetary authorities globally. 'Eighty-eight per-cent of agents believe property prices are expensive or very expensive, the highest figure we've recorded. We have had 12 years of continuous price growth and the level of increases we have seen in recent years is just not sustainable,' said Mr O'Toole. 'In the medium to long term, the only way to ensure prices stabilise is to ramp up supply.' Still, the report also highlight what it called some 'encouraging developments'. 'There is growing demand for energy-efficient homes, underpinned by buyer awareness, green mortgage incentives, and a shift in investment priorities,' it said.

Irish home prices accelerate to 7.9% in May, led by inflation outside Dublin
Irish home prices accelerate to 7.9% in May, led by inflation outside Dublin

Irish Times

time16-07-2025

  • Business
  • Irish Times

Irish home prices accelerate to 7.9% in May, led by inflation outside Dublin

Irish home prices rose at an annual rate of 7.9 per cent in May, led by properties outside of Dublin and fuelled by ongoing supply shortages and as the European Central Bank (ECB) continued to cut official borrowing costs. The increase marked an uptick from a rate of 7.6 per cent recorded in April, the Central Statistics Office (CSO) said on Wednesday. Property prices in Dublin rose by 6.9 per cent, while those outside the capital jumped 8.7 per cent. The median, or midpoint, price of a dwelling purchased in the 12 months to May 2025 was €370,000. The highest median price was €670,000 in Dún Laoghaire-Rathdown, while the lowest median price was €186,000 in Leitrim. The most expensive Eircode area over the period was A94 (Blackrock, Dublin) with a median price of €770,000, while F45 (Castlerea, Roscommon) had the least expensive price of €150,000, the CSO said. READ MORE The Government, formed in January with a strong mandate to tackle the State's housing crisis, is widely expected to fall well short of its target for 41,000 homes to be completed this year as it eyes 300,000 new homes by 2030. The Central Bank said last week that its was 'surprised' by the lack of progress and that it now estimates that only 32,500 units to be delivered in 2025. Some 30,330 homes were built in 2024. The European Central Bank (ECB) cut its rates for the eighth time in a year last month, leaving its key deposit rate at 2 per cent, half of where it stood in early June 2024 amid a battle against inflation. Most economists expect the ECB to reduce borrowing costs again later this year, even if US Donald Trump's rapidly-evolving tariff policies are complicating decision-making across monetary authorities globally.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store