Oil settles $1 down as supply set to rise

HOUSTON, Aug 31 (Reuters): Oil prices retreated on Friday as investors weighed expectations of a rise in OPEC+ supply starting in October, alongside dwindling hopes of a hefty U.S. interest rate cut next month, following data showing strong consumer spending.Brent crude futures for October delivery, which expire on Friday, settled...

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Gold discounts in India widened this week

Gold discounts in India widened this week to their highest in six weeks as a price rebound dampened purchases, while new import quotas failed to lift Chinese demand, reports Reuters.In India, the world's second-largest gold consumer, domestic prices were ruling around 71,900 rupees per 10 gram on Friday, after hitting...

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Global solar generation overtakes wind for longest ever stretch

LITTLETON, Colorado, Aug 31 (Reuters): Global electricity generation from solar farms has exceeded generation from wind farms since May, marking the longest ever stretch when solar power has been the top source of utility-scale renewable electricity worldwide.Solar electricity generation exceeded wind generation in May by 1.65 terawatt hours (TWh), and...

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