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NEW YORK: Oil prices edged higher on Thursday, boosted by a weak dollar and bullish signals from Chinese import data but pressured by renewed worries about global oil demand due to surging coronavirus cases in Europe and new lockdowns in China.
Hedge fund that hasn’t lost in a decade piles into Russian stocks
WASHINGTON: The US State Department this month told European companies which it suspects are helping to build Russia’s Nord Stream 2 gas pipeline that they face the risk of sanctions as the outgoing Trump administration prepares a final round of punitive measures against the project, two sources said yesterday.
SINGAPORE: Chicago soybean edged lower yesterday as investors awaited the US government’s forecast on global grain and oilseed production later in the day, with a focus on South American output.
ABU DHABI: Three of Opec’s biggest oil producers raised monthly pricing for shipments to Asia, their largest regional buyer, after markets tightened on Saudi Arabia’s plan to slash output.
SAUDI Arabia’s decision last week to deliver a surprise cut of one million barrels a day in its crude production shocked the oil market.In abandoning a policy of collective responsibility and letting other members of the Opec+ grouping increase output while reducing its own, the kingdom took the entire burden of balancing supply and demand on its shoulders.
HOUSTON: A decision by the Organisation of the Petroleum Exporting Countries (Opec) and allied countries to cut crude production through March delivered a late Christmas present for United States shale firms that have slashed costs, but any rise in prices spurred by the unexpected move may be just a modest stocking stuffer.
IN much of the world, the sight of a mob storming the United States Capitol to keep their leader in office was met not just with horror but with, let’s face it, schadenfreude. Finally!
CHICAGO: U.S. soybean futures resumed their rally on Friday after a light setback a day earlier, climbing to 6-1/2-year highs on signs of fresh export demand and expectations that key U.S. crop reports next week will indicate tightening global supplies.