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Oil prices extend gains on compliance with output cuts

TOKYO, Feb 02 (Reuters): Oil rose for a third day on Friday after a survey showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging US production.Brent futures, the global benchmark, were up 24 cents, or 0.3 per cent, at $69.89 a barrel by...

Passenger air travel likely to level off in 2018: IATA

PARIS, Feb 02 (AFP): Passenger demand for air travel is likely to level off this year after a strong increase in 2017, the International Air Transport Association said Thursday.International passenger traffic rose 7.9 per cent last year, well above the annual average growth seen over the past decade, said IATA,...

Coal markets rise from the ashes

SINGAPORE/MELBOURNE, Feb 02 (Reuters): Far from entering the death throes predicted by some environmentalists and analysts, thermal coal miners are enjoying their best returns in years as strong Asian demand and tight supplies send prices soaring.Chinese thermal coal futures hit a record of 687 yuan ($108.49) this week, up five-fold...

Gold edges lower as dollar firms ahead of US jobs data

LONDON, Feb 02 (Reuters): Gold edged lower on Friday as the dollar ticked up against the euro ahead of hotly anticipated US non-farm payrolls data later, which will be closely watched for clues on the outlook for US interest rates.The dollar rose 0.2 per cent against the single currency in...

China’s Hebei denies reports on steel production curb extension

BEIJINGFeb 02 (Reuters): China's top steelmaking province Hebei denied news reports that it will extend steel production curbs imposed for the winter season, the provincial government said on Thursday in a statement on its Weibo account."Hebei's provincial government and air pollution administrative bureau have never asked for the extension. Hebei...

Noble Group says proposed deals to sell four ships fall through

SINGAPORE, Feb 02 (Reuters): Crisis-wracked commodity trader Noble Group said on Friday said proposed agreements to sell four dry bulk carrier vessels have fallen through after the buyers failed to get approval from their boards for the deals by Thursday.Noble estimated it would have received net proceeds of about $30...