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Global oil demand needs to rise faster to absorb OPEC+ hike

LONDON, Aug 9 (Reuters): Global oil demand growth needs to accelerate in coming months or the market will struggle to absorb an increase in oil supply that OPEC+ is planning to make from October, according to data, analysts and industry sources.Oil demand growth in the first seven months of the...

Cocoa prices to head higher by end-2024 amid record deficit

LONDON, Aug 9 (Reuters): Cocoa prices are expected to continue heading higher this year due to persistent supply shortages that will leave them at more than double last year's levels by the end of 2024, a Reuters poll of 12 traders and analysts showed on Wednesday.London cocoa was seen ending...

Corn, soybeans face bearish pressure on hefty supplies

Chicago Board of Trade (CBOT) corn futures fell on Thursday, and soybean futures set new life-of-contract lows, as U.S. farmers scramble to sell their bins of old-crop grain and oilseeds into a global market awash in supplies, traders said, reports Reuters.Meanwhile, Chicago wheat futures spent much of the day higher...

Gold holds ground on US Fed rate-cut hopes, lower yields

Gold prices held steady on Friday after a sharp rise in the previous session, buoyed by a dip in U.S. Treasury yields, as investors grew confident the Federal Reserve will lower interest rates in September, reports Reuters.Spot gold was down 0.1% to $2,422.99 per ounce as of 1351 GMT, after...

Bitcoin price climbs to $61,128: trading data

MOSCOW, Aug 9 (TASS): The price of Bitcoin ticked up by 10.3 per cent during the trading session on Friday and reached $61,128, according to Binance platform trading data.The cryptocurrency slowed down later to $60,708, up 9.56 per cent.Bitcoin is a cryptocurrency invented in 2008 by an unknown person or...

China consumer prices hit 5-month high, top forecasts

BEIJING, Aug 9 (AFP): Chinese consumer inflation rose more than expected in July to hit a five-month high, data showed Friday, providing some much-needed positive news on the world's number-two economy.The reading comes as authorities struggle to kickstart activity among the country's army of consumers, with officials last week issuing...