Oil set for largest weekly loss in 10 months after ceasefire
LONDON, April 10 (Reuters): Oil prices were poised for their biggest weekly declines since last June despite Friday's modest gains on the back of fresh concerns over supplies from Saudi Arabia and flows through the Strait of Hormuz.Brent crude futures rose 56 cents, or 0.58 per cent, to $96.48 a...
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Gold edges lower but set for third weekly gain
Gold prices edged lower, while staying on track for a third straight weekly gain, as the market reassessed the chances of US interest rate cuts if the fragile US-Iran ceasefire holds reports Reuters.Spot gold was 0.2 per cent lower at $4,755.45 per ounce by 1113 GMT. It has gained 1.7...
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EU, US near critical minerals deal to combat Chinese control
The European Union and Washington are closing in on an agreement to coordinate on producing and securing critical minerals, Bloomberg News reported on Friday, reports Reuters.The potential deal would include incentives such as minimum price guarantees that could favour non?Chinese suppliers, the report said, citing an "action plan".The EU and...
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Shippers weigh unusual routes as high air cargo rates, ocean gridlock persist
LOS ANGELES/MONTREAL, April 10 (Reuters): Some shippers caught between high jet fuel prices and congestion in vital Middle East waterways are now looking for transport routes in unexpected places, with a recent ceasefire between Iran and the United States unlikely to offer quick relief.Clients that once moved electronics and other...
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Europe could face jet fuel crunch within weeks, airports body warns
Europe's airport industry group has warned that the continent could face a systemic jet fuel shortage in three weeks unless the Strait of Hormuz opens up, calling for urgent EU-wide action to secure supplies ahead of the peak summer travel season, reports Reuters.In a letter to the European Commission dated...
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USA Rare Earth considers building French magnet plant
LONDON, April 10 (Reuters): USA Rare Earth is considering building a magnet plant in France, its CEO said on Thursday, after agreeing to pay 40 million euros ($47 million) for a stake in French rare earth processing firm Carester.The United States and Europe are rushing to establish domestic supplies of...
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Asia boosts US LPG imports to replace Middle East supply
NEW DELHI/NEW YORK, April 10 (Reuters): Asia's biggest liquefied petroleum gas (LPG) importers, including India and China, are racing to replace disrupted Middle East supplies with cargoes from the Americas, driving spot premiums to record highs, analysts and traders said.LPG exports from the Middle East, Asia's top supplier of the...
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