Oil prices climb as US reserve bid lends support
Oil prices rose more than 1% on Tuesday, reversing some of the previous session's 6% tumble, as a US plan to buy oil for the Strategic Petroleum Reserve (SPR) provided some support though wider concerns about weaker future demand growth exerted pressure, reports Reuters.Brent crude futures climbed 94 cents, or...
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US election uncertainty, rate cut bets pin gold near record levels
Gold prices hovered near all-time high levels on Tuesday, aided by US election uncertainty and expectations of an interest rate cut by the US Federal Reserve in November, while focus was also on a series of economic data, reports Reuters.Spot gold was up 0.3 per cent to $2,750.87 per ounce...
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Palm oil jumps over 2pc on low inventory
KUALA LUMPUR, Oct 29 (Reuters): Malaysian palm oil futures rose more than 2 per cent on Tuesday, after two sessions of decline, lifted by expectations of reduced palm production and low inventory in the country.The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 108...
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QatarEnergy takes 50pc stake in TotalEnergies solar project in Iraq
DUBAI, Oct 28 (Reuters): QatarEnergy, one of the world's top suppliers of liquefied natural gas, said on Monday it had agreed to take a 50 per cent stake in TotalEnergies' 1.25-gigawatt solar project in Iraq.The French energy giant will retain the remaining 50 per cent stake in the project, which...
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Copper rebounds on hope for fiscal stimulus in China
LONDON, Oct 29 (Reuters): Copper prices bounced on Tuesday after a Reuters report gave investors renewed hope that top metals consumer China will unleash a large fiscal stimulus package.Three-month copper on the London Metal Exchange (LME) gained 0.8 per cent to $9,621 per metric ton by 1045 GMT.LME copper was...
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