Aggressive US energy policy tests ties with European allies
WASHINGTON/BRUSSELS, July 10 (Reuters): For the administration of President Donald Trump, a policy of "energy dominance" means reducing dependence on imported oil and promoting exports to boost the national economy and Washington's political influence overseas.For many of America's European allies, however, it means unwelcome interference in its markets.The Trump administration...
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Iraqi oil minister says OPEC deal will lower inventories, stabilise prices
BAGHDAD, July 10 (Reuters): An agreement between OPEC and its allies to extend oil output cuts until the end of March 2020 will lower inventories, help stabilise the market and address price volatility, Iraqi Oil Minister Thamer Ghadhban said on Wednesday.Asked about OPEC's position on prices, Ghadhban said the general...
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Gold edges lower as investors await Fed Chair testimony
BENGALURU, July 10 (Reuters): Gold eased on Wednesday as expectations of a sharp US interest rate cut receded while investors awaited Federal Reserve Chairman Jerome Powell's congressional testimony for concrete signals on the central bank's monetary policy strategy.Spot gold was down 0.2 per cent at $1,395.60 per ounce as of...
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A vegetable vendor
BEIJING: A vegetable vendor standing with her daughter at her stall at a market in Beijing on Wednesday. Factory prices in China were unchanged in June from a year ago, data showed on the day reviving the prospect of deflation as the US trade war hits the crucial manufacturing sector....
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