Oil prices soar on fewer US rigs
SINGAPORE/LONDON, Jan 8 (Reuters): Oil prices rose on Monday, coming close to new three-year highs on a slight decline in the number of US rigs drilling for new production and sustained OPEC output cuts.US West Texas Intermediate (WTI) crude futures CLc1 had risen to $61.94 a barrel by 1140 GMT,...
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Saudi Arabia shortlists bidders for first solar power project
Saudi Arabia's has shortlisted bids by Acwa Power and a consortium led by Marubeni to develop the kingdom's first ever solar power project as it looks to develop alternative sources of energy and free up oil for export, reports The National.The Renewable Energy Project Development Office (Repdo), established last year...
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Gold edges down as dollar firms
LONDON, Jan 8 (Reuters): Gold prices inched down on Monday after the dollar firmed on expectations of further US interest rate hikes this year. Spot gold was down 0.1 per cent at $1,317.60 an ounce at 0711 GMT. Last week, the metal touched its highest since September 15 at $1,325.86....
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India eyes record wheat output of 100m tonnes
Wheat production in India is expected to touch an all-time high of over 100 million tonnes in the current 2017-18 crop year (July-June) due to likely increase in acreage and yields, Agriculture Secretary SK Pattanayak said on Monday, reports PTI.In the 2016-17 crop year, wheat production had reached a record...
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