Oil set for first weekly gain in three weeks
LONDON, Dec 13 (Reuters): Oil prices rose more than 1 per cent Friday, heading for their first weekly rise since the end of November, as additional sanctions on Russia ratcheted up supply worries, while a surplus outlook weighed on markets.Brent crude futures rose 83 cents, or 1.1 per cent, to...
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US wholesale prices pick up in Nov
WASHINGTON, Dec 13 (AFP): US producer inflation climbed in November, government data showed Thursday, logging its biggest year-on-year increase since February 2023 as food costs jumped.But on a monthly basis, underlying price increases remained muted when volatile areas such as food, energy and trade services were excluded, the Labor Department...
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Brisk US corn, soy sales paces tempered by China's absence
NAPERVILLE, Illinois, Dec 13 (Reuters): After multiple weeks of impressive volumes, last week's US corn and soybean export sales were a disappointment.Luckily, total export sales for both crops still cover an above-average portion of full-year expectations, which are extremely healthy in the case of corn.But China's limited involvement with soybeans...
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Copper little changed but on track for weekly loss
NEW DELHI, Dec 13 (Reuters): London copper prices were little changed on Friday and headed for weekly losses on the back of a stronger US dollar and a lack of clarity around China's stimulus measures.Three-month copper on the London Metal Exchange (LME) was up 0.02 per cent at $9,088 per...
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US hikes tariffs on imports of Chinese solar wafers
BANGKOK (AP): The Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect US clean energy businesses.The notice from the US Trade Representative's office said tariffs on Chinese-made solar wafers and polysilicon will rise to 50 per cent from 25per cent and...
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Gold poised for weekly gain ahead of potential Fed rate cut
Gold prices edged lower on Friday but were still on track to finish the week higher as attention turned to the US Federal Reserve's December policy meeting at which it is widely expected to deliver its third interest rate cut this year, reports Reuters.Spot gold was down 0.5per cent at...
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