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China Crude Comeback Loses Steam as Iran War Enters Eighth Month
A nascent recovery in Chinese oil demand has begun to falter, as continued fighting in the Middle East and limited Iranian supply keep crude prices too high for private refiners, prompting some analysts to trim forecasts for the coming months.
Pressure on U.S. Treasurys eases after 30-year yield hits highest level since 2002
U.S. Treasury yields were lower on Wednesday, recovering ground after facing heavy selling pressure in the previous session, amid investors concerns about inflation, government debt and the potential for tighter monetary policy. The 30-year Treasury bond was last 4 basis points lower to 5.553%, after rising to its highest level since 2002 on Wednesday. The 10-year Treasury was down 3 basis points to 5.221% and the 2-year Treasury note yield was 1 basis point lower to 4.876%.
Kenyan Inflation Accelerates to 32-Month High in September
Kenyan inflation accelerated to the highest level in more than two and a half years in September, driven by higher energy and food prices.
UK energy price cap forecast to rise to nearly £2,000 as Iran war drives up prices
Household energy bills forecast to see biggest rise in four years between January and March