Oil falls as IEA raises supply forecast
LONDON, Aug 13 (Reuters): Oil prices edged lower on Wednesday after the IEA noted supply overtaking demand this year, while investors awaited Friday's meeting between US President Donald Trump and Russian President Vladimir Putin.Brent crude futures fell 41 cents, or 0.6 per cent, to $65.71 a barrel by 1037 GMT,...
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Gold rises on increasing Fed rate-cut bets, weaker dollar
Gold rose on Wednesday as expectations of a US Federal Reserve interest rate cut in September gained traction following mild inflation data, while a weaker dollar bolstered demand, reports Reuters.Spot gold gained 0.6 per cent to $3,363.61 per ounce by 1026 GMT. US gold futures for December delivery rose 0.5...
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Vietnam food association urges challenge to Philippine rice import suspension
HANOI, Aug 13 (Reuters): The Vietnam Food Association has asked the country's trade ministry to challenge a move by the Philippines to suspend rice imports for two months, two sources told Reuters, with traders saying it will harm local production.The Philippines, Vietnam's biggest rice buyer, said last week that it...
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US power use to reach record highs in 2025 and 2026
US power consumption will hit record highs in 2025 and 2026, the Energy Information Administration said in its short-term energy outlook (STEO) on Tuesday, reports Reuters.The EIA projected power demand will rise to 4,186 billion kilowatt-hours (kWh) in 2025 and 4,284 billion kWh in 2026, up from a record 4,097...
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Brazil orange juice byproducts will suffer from Trump tariffs
SAO PAULO, Aug 13 (Reuters): Brazilian exporters of orange juice byproducts will suffer a major revenue decline from a hefty 50 per cent US tariff imposed on many of the country's products in early August, industry trade group CitrusBR said on Tuesday.The economic impact can amount to 1.54 billion reais...
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