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War-torn countries, those with high levels of debt and U.S. allies such as Jordan have the most to lose if the United States Agency for International Development is dismantled, as proposed by the Trump administration. USAID has provided significant budgetary support in Ukraine and Jordan in particular, JPMorgan noted, and making up the lost support for healthcare, agriculture and infrastructure in those countries and elsewhere will be tough. JPMorgan said a permanent loss of USAID money was not enough to destabilise the economy in any of the roughly 30 emerging markets it tracks closely.

Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices. Washington's January 10 sanctions targeted tankers carrying Russian oil in a push to more effectively limit Moscow's oil revenue, the aim of western sanctions imposed after its invasion of Ukraine three years ago. The new rules have left millions of barrels floating on ships and sent traders hunting for alternatives, while dealings in Russian crude, the biggest source for top global importers China and India, have slowed for March.

Oil prices rose on Friday and were poised to end three weeks of decline, buoyed by rising fuel demand and expectations that U.S. plans for global reciprocal tariffs would not come into effect before April, providing more time to avoid a trade war. U.S. West Texas Intermediate (WTI) crude gained 24 cents, or 0.34%, to $71.53. U.S. President Donald Trump on Thursday ordered commerce and economics officials to study reciprocal tariffs against countries that place tariffs on U.S. goods and to return their recommendations by April 1.

Inflation ran hotter than forecasters expected in January, but a quirk of the data involving seasonal adjustment means many economists have stopped short of declaring inflation has reignited.

Eggs and housing costs contributed to accelerating inflation in January, which indicates it'll be a while until the next rate cut.

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(Bloomberg) -- Oil settled little changed, rebounding from the lowest since December, as a hazy timeline surrounding US President Donald Trump’s plans to impose reciprocal tariffs counteracted potentially easing risks to Russian supplies. Most Read from BloombergCan Portland Turn a Corner?Why American Mobility Ground to a HaltSpaceX Bid to Turn Texas Starbase Into City Is Set for Vote in MaySaudi Arabia’s Neom Signs $5 Billion Deal for AI Data CenterCutting Arena Subsidies Can Help Cover Tax Cut