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Oil prices steady as supply risks encounter economic headwinds

LONDON, May 20 (Reuters): Oil prices steadied on Friday, setting them on course for little change on the week, as a planned European Union ban on Russian oil balanced demand concerns over slowing economic growth.Brent futures for July were down 18 cents, or 0.2 per cent, to $112.22 a barrel...

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Gold price hits one-week high on weaker dollar

Gold prices rose to a one-week high on Friday as dollar weakened, while growing economic concerns put bullion on track for its best week since atleast late-March, reports Reuters.A weaker greenback makes bullion attractive for overseas buyers, while gold is also considered a safe haven during times of political and...

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Slovak firm pays for Russian gas in euros, opens rouble account

Slovak state gas importer SPP has paid a bill for Russian natural gas in euros and has also opened a rouble account with Gazprombank, the company said on Friday, in effect accepting a payment scheme demanded by Moscow, reports Reuters.The European Union's executive told member states this week they can...

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Sinosteel signs $680m iron ore mine deal with Cameroon

YAOUNDE, May 20 (Reuters): Cameroon's government has signed a 420 billion CFA franc ($675.96 million) high-grade iron ore mining deal with a subsidiary of Sinosteel Corporation Limited, as China seeks new sources of the steel-making ingredient.Sinosteel Cam S.A., the Cameroonian subsidiary of the state-owned Chinese miner, will develop the Lobe...

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