Oil falls as OPEC+ proceeds with Sept output increase
LONDON, Aug 4 (Reuters): Oil prices fell to their lowest in a week on Monday after OPEC+ agreed to another large output increase in September, though traders remained wary of further sanctions on Russia.Brent crude futures fell $1.55, or 2.2 per cent, to $68.12 a barrel by 1254 GMT, their...
Read more
BP makes biggest oil, gas find in 25 years offshore Brazil
BP has made its largest oil and gas discovery in 25 years offshore Brazil, it said on Monday, in a potential big boost for the British company following its strategic shift away from renewable energy to refocus on fossil fuels, reports Reuters.BP is seeking to bolster oil and gas in...
Read more
German finance minister to push for steel quotas on Washington trip
BERLIN, Aug 4 (Reuters): German Finance Minister Lars Klingbeil will advocate for a quota system on steel exports to be included in the EU's trade deal with the United States at a meeting with his US counterpart, Scott Bessent, later on Monday, he told a radio broadcaster."There is talk of...
Read more
Gold eases as yields rise, investors book profits
Gold eased on Monday due to slightly firmer US Treasury yields and profit-taking following last week's sharp rally driven by weak US jobs data, reports Reuters.Spot gold lost 0.2 per cent to $3,356.91 per ounce, as of 1051 GMT, after rising more than 2 per cent on Friday. However, US...
Read more
ADNOC Gas signs 10-year LNG deal with Hindustan Petroleum
RIYADH, Aug 4 (Arab News): Abu Dhabi's ADNOC Gas has signed a 10-year agreement with Hindustan Petroleum Corp. to supply 500,000 metric tonnes of liquefied natural gas annually, expanding its footprint in key Asian energy markets. Under the agreement, LNG will be sourced from ADNOC Gas' Das Island liquefaction facility,...
Read more
