Global commodity prices are set to increase this year to the highest since 2022 as the war in Iran continues to disrupt key industrial supplies like oil and metals, the World Bank Group said.
China has approved an increase in refined fuel exports for May to regions other than Hong Kong, two trading sources said on Wednesday, though levels remain below last year's average.
Oil prices eased on Wednesday from a multi-day rally as investors digested the ramifications of the United Arab Emirates' surprise decision to quit Opec, though supply disruptions from the stalemated Iran war support the market.
The Beijing Auto Show that opened to the public this week is a showcase for how hypercompetition in China has driven new car prices in the world's largest car market to a fraction of the level of the next-largest market, the U.S.
Foreign automakers have warned the Trump administration that they could pull their cheapest car models from the U.S. market if the U.S.-Mexico-Canada Agreement (USMCA) is not renewed or is watered down, the Wall Street Journal reported on Monday.
Federal Reserve policymakers will gather in Washington this week in what may be Jerome Powell's last meeting as head of the U.S. central bank, with energy prices still elevated and the Iran war at a standstill and likely to prolong uncertainty about the economic and monetary policy outlook.