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Oil Falls as U.S. Inflation Data Surges, China Imposes Lockdowns

13 Sept 20:33 Key points summarised by AI

Oil prices declined after U.S. consumer prices in May rose more than anticipated, signaling accelerating inflation and prompting expectations of more aggressive Federal Reserve policy tightening.
New COVID-19 lockdown measures in Shanghai and Beijing fueled concerns over crude demand, with parts of Shanghai reimposing restrictions and initiating mass testing.
The fall in prices occurred despite earlier gains driven by potential supply disruptions, including a looming strike in Norway and reduced oil output in Libya.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.