Oil slips as US inventory build stokes fears of supply glut
TOKYO, Oct 21 (Reuters): Oil prices eased on Wednesday after a surprise build-up in US crude stockpiles stoked concerns about a global supply glut even as a spike in global COVID-19 cases fuelled fears of a slower recovery in fuel demand.Brent crude futures for December delivery were at $42.70 a...
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Gold hits one-week peak as US stimulus hopes dent dollar
BENGALURU, Oct 21 (Reuters): Gold prices rose to a one-week high on Wednesday as the dollar weakened on renewed hopes for a new US stimulus package ahead of next month's election.Spot gold was up 0.5 per cent at $1,915.66 per ounce by 0903 GMT, after hitting its highest since Oct....
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Cathay Pacific to slash workforce, end Cathay Dragon brand
SYDNEY, Oct 21 (Arab News): Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand due to the coronavirus pandemic.The airline would also seek changes in...
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Wheat mkt looks beyond record stocks to US, Russian crop woes: Analyst
NAPERVILLE, Ill, Oct 21 (Reuters): Chicago-traded wheat futures have rallied to near six-year highs on strong global demand and unfavorable planting conditions in some major exporters, despite the expectation for record-large stockpiles by mid-2021.Most-active CBOT wheat Wv1 hit $6.38-1/4 per bushel on Tuesday, the contract's highest since Dec. 24, 2014....
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US crude stocks up, gasoline, distillate inventories fall: API
OKLAHOMA, Oct 21 (Reuters): US crude oil stocks rose last week while gasoline and distillate inventories fell, data from industry group the American Petroleum Institute showed on Tuesday.Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, compared with analysts' expectations in a...
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Pioneer Natural to buy rival Parsley for $4.5b in all-stock deal
HOUSTON, Oct 21 (Reuters): Pioneer Natural Resources Co said on Tuesday it would buy smaller rival Parsley Energy Inc in a deal valued at about $4.5 billion, the latest consolidation among US shale producers slammed by the rout in oil prices during the pandemic.Many shale companies have been mired in...
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