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Oil prices end week up in volatile trade ahead of OPEC meeting

NEW YORK: Oil prices were up slightly in heavy, seesaw trading on Friday, giving back most earlier gains after news that major producers would consider additional supply a day after U.S. President Donald Trump again blasted the cartel.

Global benchmark Brent crude settled 10 cents higher at $78.80 a barrel. U.S. light crude rose 46 cents to $70.78 a barrel, more than $1 below the session high of $71.80.

TNB considers merger deals to go for renewable energy

KUALA LUMPUR: Tenaga Nasional Bhd (TNB), the most valuable listed utility company in emerging Asia, is looking to sell its gas-fired power plant in Pakistan as it pushes forward with a plan to rely more on renewable sources of energy.

Malaysia’s state-owned electricity producer wants to reduce reliance on fossil fuel, which accounts for about 70% of its power generation, chief executive officer Datuk Seri Azman Mohd said in an interview

US oil prices extended gains Thursday amid another drawdown(Update)

NEW YORK: U.S. oil futures surged nearly 2 percent on Wednesday as they were bolstered by a fifth weekly crude inventory drawdown and strong domestic gasoline demand amid ongoing global supply concerns over U.S. sanctions on Iran that come into force in November.

U.S. West Texas Intermediate crude for October delivery was up 31 cents, or 0.4 percent, at $71.43 a barrel by 0018 GMT, after settling up $1.27.  Front-month London Brent crude, for November delivery, was down 2 cents at $79.38, having ended up 37 cents.

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