Asia spot LNG hits four-month high on fears of wider ME shipping disruption
SINGAPORE, July 26 (Reuters): Asia spot liquefied natural gas prices rose for a fifth consecutive week to their highest in four months on fears of wider shipping disruptions, as Houthi attacks on Saudi oil tankers extended the Middle East war to a second major chokepoint.The average price for September delivery...
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Africa facing $10-$20b economic hit from 'super' El Niño
LONDON, July 26 (Reuters): An impending "super" El Niño is likely to inflict a combined $10 billion to $20 billion hit on affected African countries and trigger mass migration from hard-hit areas, the African Development Bank's top climate expert told Reuters.Forecasters are warning that the El Niño weather pattern -...
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Iran says it sold $18b of oil during war, ceasefire
TEHRAN, July 26 (AFP): Iran's oil ministry on Saturday said it was able to sell a total of $18 billion worth of oil during the war and the ensuing ceasefire with the United States."The ministry sold $11.5 billion of oil during the war and $6.5 billion during the ceasefire" that...
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India gold discounts hit seven-week high as demand weakens; China buying improves-
India's gold discounts widened to their highest level in seven weeks as demand remained subdued after a price rebound earlier in the week deterred buyers, while top consumer China saw an improvement in buying interest, reports Reuters.Domestic gold prices were trading around 141,800 rupees per 10 grams, after rising to...
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Kuwait's KPC signs $16 billion lease and leaseback deal for oil pipeline network
DUBAI, July 26 (Reuters): Kuwait Petroleum Corporation (KPC) has signed a $16 billion deal to lease and lease back its crude oil pipeline network with a consortium comprising global funds Blackstone, Brookfield, and KKR, the state-owned Gulf firm said on Saturday.It said it was the largest foreign direct investment in...
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