FirstFT: Oil prices near $100 as renewed supply crunch looms
Also in today’s newsletter: India’s biggest private bank grapples with leadership vacuum and China pumps $53bn into banks and insurers
Economic news
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Pricey oil is laying the groundwork for its own decline
Crude is helping to make clean technologies more competitive
Africa’s richest man seeks to raise $1.6bn in continent’s biggest IPO
Aliko Dangote targets 10mn shareholders as he floats $49bn refinery business on Nigerian stock exchange
Oil closes in on $100 as renewed supply crunch looms
Traders warn that ‘something has to break’ amid attacks on shipping and eroding inventories
US shale pioneer takes fracking to Australia’s remote gas frontier
American producers hope to export practices around the world as countries seek new supplies due to the Iran war
Yen surges to 6-month high as traders stay alert for signs of intervention
Japanese currency touches ¥154.04 per dollar, including steep a rise in London morning