Oil up 3pc on Libya halt, Mideast escalation fears
LONDON, Aug 26 (Reuters): Oil prices rose nearly 3 per cent on Monday on reports of a near total production stoppage in Libya, adding to earlier gains on concerns that escalating conflict in the Middle East could disrupt regional oil supplies. Brent crude futures climbed $2.30, or 2.91 per cent,...
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Palm oil climbs to one-month high
SINGAPORE, Aug 26 (Reuters): Malaysian palm oil futures climbed for the fourth consecutive day on Monday to close at their highest in one month, on Indonesia's plan to lower its export taxes and further raise its biodiesel blending rates.The benchmark palm oil contract for November delivery on the Bursa Malaysia...
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Gold marches towards record highs as Powell endorses rate cuts
Gold held near record highs on Monday, buoyed by a softer dollar and dovish remarks from US Federal Reserve Chair Jerome Powell bolstering expectations of a September interest rate cut, reports Reuters.Spot gold was up 0.6 per cent to $2,526.15 per ounce at 1159 GMT, about $5 shy of the...
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Qatar strikes another 15-yr LNG supply deal with Kuwait
KUWAIT, Aug 26 (Reuters): Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for 15 years, the second such deal since 2020 as Kuwait imports the fuel to help meet rising demand for power generation. The chief executives of state-owned...
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Soybeans edges down, corn hits 4-year low
SINGAPORE/HAMBURG, Aug 26 (Reuters): Chicago corn fell to its lowest in around four years on Monday and soybeans also dropped after a closely watched crop tour of key growing areas forecast bumper US harvests.Wheat fell amid ample world supplies, especially from the Black Sea region."The US crop tour has estimated...
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Iron ore hits nearly 2-week high on softer dollar, demand hopes
BEIJING, Aug 26 (Reuters): Iron ore futures prices rebounded on Monday to hit their highest in nearly two weeks, supported by a softer dollar and prospects of steel demand picking up in the coming peak construction season in top consumer China.The most-traded January iron ore contract on China's Dalian Commodity...
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