Oil slips to two-week low as US, Iran seen moving closer to deal

LONDON, May 25 (Reuters): Oil prices fell nearly 6 per cent to two-week lows on Monday as optimism grew that the United States and Iran were moving closer to a peace deal, even though they remain at odds over key issues such as blockades on the Strait of Hormuz.Brent crude...

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Sri Lanka in talks to buy fuel from China and Russia: Minister

COLOMBO, May 25 (Reuters): Sri Lanka is in talks to buy Russian crude and refined fuels from Russia and China, the energy minister said on Monday, as the import-dependent nation seeks to alleviate shortages linked to the global energy crisis.Sri Lanka, which imports all of its fuel, has been hit...

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Gold climbs as Middle East peace hopes push oil, dollar lower

Gold rose more than 1 per cent on Monday as hopes of a peace deal to end the Iran war sent the dollar and oil prices lower, easing fears of inflation and higher-for-longer interest rates, reports Reuters.Spot gold was up 1.5 per cent at $4,574.17 an ounce by 1118 GMT...

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Indian retailers raise fuel prices a fourth time to rein in losses

India's state-owned fuel retailers increased diesel prices by 2.71 rupees ($0.0283) per litre and petrol by 2.61 rupees, dealers said on Monday, the fourth hike in May to recoup some losses driven by higher crude costs due to the Iran war, reports Reuters.Indian state fuel retailers, which control 90 per...

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