Oil slips on demand concerns in China
LONDON, July 16 (Reuters): Oil prices declined more than 1 per cent on Tuesday on worries of a slowing Chinese economy crimping demand and despite a growing consensus the U.S. Federal Reserve could begin cutting its key interest rate as soon as September.Brent futures were down $1.31, or 1.54 per...
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Japan to boost jet fuel production and imports amid tourism boom
TOKYO, July 16 (Reuters): Japan plans to increase jet fuel production and imports to address a pick up in demand from flights amid a boom in tourism, according to a draft government plan presented on Tuesday.The initiative aims to tackle a recent jet fuel shortage affecting commercial flights, which has...
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Palm oil snaps two-day losing streak
KUALA LUMPUR, July 16 (Reuters): Malaysian palm oil futures rose on Tuesday to snap a two-day decline, buoyed by stronger rival Dalian and Chicago contracts and higher export estimates.The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange closed 1.34 per cent higher at 3,926 ringgit...
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Gold rises with US rate cut optimism
LONDON, July 16 (Reuters): Gold prices rose on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues.Spot gold gained 0.8 per cent to $2,440.29 per ounce by 1207 GMT. The...
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Aluminium hits 3-month low, copper slips
LONDON, July 16 (Reuters): Aluminium prices dropped to the lowest in over three months on Tuesday on worries about oversupply, while copper also slumped in the wake of weak economic data from top metals consumer China.Three-month aluminium on the London Metal Exchange (LME) fell 0.7 per cent to $2,443.50 per...
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