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Crude declines; Explosion at Nigerian oil refinery kills 100; Petroecuador renegotiates with…
Oil slipped on Friday, posting a weekly loss of nearly 5 percent, on the prospect of weaker global growth, higher interest rates, and COVID-19 lockdowns in China hurting demand even as the European Union considers a ban on Russian oil that…
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Gold down; Soybeans rise, wheat falls; P&G raises sales forecast
Gold prices eased on Thursday as a rebound in US Treasury yields tempered bullion’s safe-haven demand stemming from the Ukraine crisis and its potential impact on the global economy.
Spot gold was down 0.4 percent at $1,950.61 per ounce,…
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Crude climbs; CNOOC soars in Shanghai debut; Brazil discusses output boost
Oil prices traded higher but in a narrow range on Thursday, after being rocked earlier in the week by supply losses from Libya and a worrying outlook for demand as the International Monetary Fund cut its global growth forecasts.
Brent…
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Crude hits three-week high; production disruptions in Libya
Oil prices climbed to nearly three-week highs on Monday as fears over tight global supply grew, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia.
Brent futures were up…
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Inflation is killing America… Has the magic of sanctions been turned on the magician?
Although Russia is the target of US and Western sanctions due to the impact of the Ukrainian war that has erupted since February 24, these sanctions, as analysts and experts confirm, have a double-edged sword with great negative…
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Buying gas in rubles.. Russia reveals a new development
Russian Deputy Prime Minister Alexander Novak said on Friday that a number of Russian gas buyers have agreed to change the payment currency to the Russian ruble.
"We expect other importers to make a decision (switching to the use of the…
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Saudi Ports witness a rise in cars imports amid transshipment growth in Q1
Saudi ports have witnessed a growth in cars imports amid an increase in cargo throughput tonnage during the first quarter of 2022, official statistics showed.
The first three months of the year have recorded an increase in the numbers of…
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Ferrero to stop buying palm oil from Malaysia’s Sime Darby over labor concerns
Italian confectionary giant Ferrero said it will stop sourcing palm oil from Sime Darby Plantation after the United States found the Malaysian planter used forced labor, in a reputational blow for the palm producer and for Malaysia.…
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EgyptAir to resume daily flights to Moscow on Friday
EgyptAir announced that it would resume its daily flights from Cairo to Moscow beginning Friday, April 15.
The airline early March canceled its direct flights to Moscow due to issues related to aircraft insurance.
The airline stated…
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Crypto rises, content creators invest in MoonPay, crypto expert jailed for helping North Korea
Bitcoin, the leading cryptocurrency internationally, traded higher on Wednesday, rising by 0.32 percent to $40,204.12 as of 9:00 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $3,067.40, up by 1.79 percent,…
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