Oil falls to near two-month lows as Trump calls off threatened strikes on Iran
LONDON, June 12 (Reuters): Oil prices fell nearly 3 per cent on Friday to their lowest in nearly two months after US President Donald Trump cancelled new strikes on Iran, reducing fears of an escalation of hostilities following tit-for-tat attacks earlier in the week.Brent futures were down $2.27, or 2.5...
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Gold steadies but heading for second straight weekly loss
Gold steadied on Friday as oil fell on rising hopes for a peace deal between Iran and the United States, but prices remained on track for a second straight weekly decline due to expectations of higher interest rates, reports Reuters.Spot gold was little changed at $4,207.30 per ounce as of...
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USDA cuts US winter wheat harvest outlook after Plains drought
CHICAGO, June 12 (Reuters): The US Department of Agriculture on Thursday cut its US winter wheat crop outlook by 2 per cent from a month earlier as a harsh drought in the Plains cut its hard red winter wheat production view to the lowest since 1957.US winter wheat production in...
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China's top coal region to expand coal-to-oil output in energy security push
HOHHOT, China, June 12 (Reuters): China's top coal-producing region plans to build the country's largest base for turning coal into oil, gas and chemicals to help reduce reliance on imports, highlighting how the Iran war has sharpened China's focus on energy security.Inner Mongolia is also China's top producer of renewable...
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Coffee firms ill-prepared for EU rules on living wages, report finds
LONDON, June 12 (Reuters): None of the world's top coffee roasters and traders have committed to paying farmers a living income even though this is set to become a legal obligation for large companies operating in the EU from 2029, according to a major coffee sector report.The EU's landmark Corporate...
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