Oil steady as OPEC+ hikes output while wildfires curb Canadian supply
LONDON, June 4 (Reuters): Oil prices held steady on Wednesday amid global trade tensions and as ongoing OPEC+ output increases were offset by a hit to Canadian supply from wildfires.Brent crude futures inched 2 cents lower to $65.61 a barrel by 1307 GMT. US West Texas Intermediate crude was 11...
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Gold holds ground as jobs data offsets safe-haven demand
Gold prices held steady on Wednesday as stronger US jobs data countered safe-haven demand driven by simmering trade tensions between the US and China, reports Reuters.Spot gold was steady at $3,349.19 an ounce, as of 1145 GMT. US gold futures were unchanged at $3,373.10."US labor data gave markets a bit...
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China's rare earth export curbs hit Europe's auto industry
BERLIN/FRANKFURT, June 4 (Reuters): Some European auto parts plants have suspended output and Mercedes-Benz is considering ways to protect against shortages of rare earths, as concerns about the damage from China's restrictions on critical mineral exports deepen.China's decision in April to suspend exports of a wide range of rare earths...
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Russia's oil, gas budget revenue falls by a third in May
MOSCOW, June 4 (Reuters): Russia's oil and gas revenue fell by 35 per cent year-on-year in May to 512.7 billion roubles ($6.55 billion), data from the finance ministry showed on Wednesday, as weakening oil prices and sanctions weighed on the country's economy.Russia needs higher oil prices to balance its budget...
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