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Oil dips from highs, but OPEC’s cuts still support market

SINGAPORE, Dec 22 (Reuters): Oil prices on Friday dipped away from some of their highest levels since 2015, weighed down by rising US output and the expected January re-opening of the Forties pipeline in the North Sea.Despite this, markets remained well supported by ongoing supply cuts led by the Organisation...

First Ryanair strike sees delays, but no cancellations in Germany

FRANKFURT AM MAIN, Dec 22 (AFP): Passengers travelling with Ryanair in Germany on Friday saw little disruption from a short strike called by a pilots' union, with the no-frills airline praising crew for "largely ignoring" the unprecedented walkout.Germany's powerful Cockpit union (VC) had asked Ryanair pilots to walk off the...

Gold hovers below two-week high but eyes 2nd weekly gain

BENGALURU, Dec 22 (Reuters): Gold prices held below a two-week high in thin pre-holiday trade on Friday amid a firmer dollar, but were on track to log a second consecutive week of gains.Spot gold was down 0.1 per cent at $1,265.65 an ounce at 0346 GMT, after hitting its highest...

Indian sugar mills to double ethanol supply as output jumps

MUMBAI, Dec 22 (Reuters): Indian sugar mills are set to more than double the supply of ethanol to fuel retailers for blending with gasoline in 2017/18, expecting a sharp rise in the local output of the sweetener, an industry body said on Wednesday.Ethanol manufactures and oil marketing companies finalised supply...

Chinese officials point fingers as gasification crisis worsens

BEIJING, Dec 22 (Reuters): When an inspector from a local environmental protection bureau visited a small village in China's Shandong province in October to check on a gasification project, she said village officials became tearful in lamenting how far behind schedule they were.For years, the village has been haunted by...

London copper price slips

BEIJING, Dec 22 (Reuters): London copper prices edged lower on Friday as the dollar strengthened slightly and wage agreements at mines in Chile eased concerns about supply disruptions in the world's top producer of the metal.A rising US currency makes dollar-denominated commodities more expensive for non-US firms but copper remains...