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Oil hits 3-month low as US, Iran reach peace deal

LONDON, June 15 (Reuters): Oil prices slipped to a 3-month low on Monday after US President Donald Trump and Iran's deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.Brent crude futures fell $4.47, or 5.1 per...

Malaysian palm oil falls on weaker rival oils

JAKARTA, June 15 (Reuters): Malaysian palm oil futures fell on Monday, tracking rival vegetable oils in both Chicago and Dalian markets, with crude oil prices also weighing on sentiment.The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange dropped 25 ringgit or 0.56% at 4,450 ringgit...

Gold prices gain 3.0pc

Gold prices rose for a third straight session on Monday, climbing to a near one-week high after Iran and the United States agreed to halt their war, a move that eased expectations of higher interest rates, reports Reuters.Spot gold rose 3 per cent to $4,344.77 per ounce, as of 08:42...

Aluminium falls 3.0pc on Iran deal

LONDON, June 15 (Reuters): Aluminium prices fell to their lowest level in two-and-a-half months on Monday as a US-Iran framework agreement to end their war improved prospects for deliveries from Gulf producers, even though shippers were still cautious on transit through the Strait of Hormuz.The benchmark three-month aluminium on the...

Coal-rich Mongolia aims to boost China trade ties

BEIJING, June 15 (Reuters): Mongolia hopes to boost trade by more than a tenth this year with China, the biggest destination for its exports of coal and minerals, setting a target that will further boost economic dependence on its giant neighbour.Two-way trade is expected to reach $20 billion this year,...

China sets sights on heavy truck electrification in blow to diesel demand

BEIJING, June 15 (Reuters): China rolled out a push to electrify heavy trucks, a policy that is likely to accelerate a shift away from diesel that is cutting into fuel demand even as it creates new opportunities for domestic truck and electric vehicle battery manufacturers.By 2030, EVs will make up...

Global shippers cautious on Hormuz transit despite US-Iran deal

TOKYO/COPENHAGEN, June 15 (Reuters): Shippers in Asia and Europe said confidence in resuming transit through the Strait of Hormuz could take weeks to rebuild and navigation will only restart once safety is assured, after the US and Iran agreed a framework deal to reopen the waterway.US and Iranian officials are...