World hit by worst oil shock since the 1970s

World hit by worst oil shock since the 1970s

Share markets nosedived in Asia on Monday as the inflationary jolt from surging oil prices threatened to raise living costs and interest rates across the globe, while investors desperate for liquidity fled to the US dollar. Brent crude soared 27% to US$117.58/barrel, the biggest daily gain since at least 1988, which came on top of…

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World hit by worst oil shock since the 1970s

World braces for an oil price shock

Brent crude jumped 10% to about US$80/barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after US and Israeli strikes on Iran plunged the Middle East into a new war. “While the military attacks are themselves supportive for oil prices, the key factor here…

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Components price shock hitting South African PC buyers hard

Components price shock hitting South African PC buyers hard

South African technology retailers are warning consumers and businesses to brace for further price hikes on key computer components as a global shortage driven by AI demand squeezes supply of memory chips, solid-state drives and graphics cards. Three of the country’s online retailers – Evetech, Dreamware Technology and Tech.co.za – have told TechCentral that the…

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