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Oil climbs 2pc on reports of Iran preparing strike on Israel

LONDON, Nov 1 (Reuters): Oil prices rose by 2 per cent on Friday after reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days, though benchmarks were still set for a weekly decline.Brent crude futures were up $1.46, or 2 per cent, at $74.27...

Gold prices rise after US nonfarm payrolls

LONDON, Nov 1 (Reuters): Gold prices rose on Friday, rebounding from profit-taking during the previous session, as the US dollar weakened after data showed that US job growth slowed sharply in October.Spot gold added 0.4 per cent to $2,754 per ounce by 1248 GMT. Prices fell by 1.5 per cent...

Palm closes 3pc higher, hits highest level in almost two and a half years

KUALA LUMPUR, Nov 1 (Reuters): Malaysian palm oil futures jumped more than 3 per cent on Friday, reaching the highest in almost two and a half years in response to stronger soyoil and crude oil prices, along with positive domestic export estimates.The benchmark palm oil contract for January delivery on...

China pivot from US farm imports bolsters it against trade war risks

BEIJING/SINGAPORE, Nov 1 (Reuters): China's push to shift its food import sources since 2018 has put it in a better position to impose tit-for-tat tariffs on US farm goods with less harm to its food security if trade friction with Washington flares after the US presidential election.The threat of a...

USDA September soy crush estimated at 187.4 million bushels, analysts say

CHICAGO, Nov 1 (Reuters): The US soybean crush likely rebounded in September to 5.623 million short tons, or 187.4 million bushels, analysts surveyed by Reuters estimated ahead of a monthly US Department of Agriculture report due on Friday.If the average of nine estimates is realized, it would be up 11.9...

Saudi Arabia may cut Dec oil prices for Asia

SINGAPORE, Nov 1 (Reuters): Top oil exporter Saudi Arabia may cut prices for most of the crude grades it sells to Asia in December, tracking weakness in Middle East benchmark Dubai, trade sources said.Price cuts for Saudi oil would signal weak demand and provide more evidence for the Organization of...