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Oil Prices Slump As Investors Fear Fed Rate Hikes Will Hurt Demand
Investors have been paring positions in risky assets as they assess whether inflation-fighting central banks could push the world economy into recession with higher interest rates.
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Oil Swings Higher As Tight Supplies Overshadow Demand Destruction
Russian grades accounted for about 16.5% of India's overall oil imports in May
Read More →Oil Swings Higher As Tight Supplies Overshadow Demand Destruction
Brent futures gained $1.06, or 0.9%, to settle at $120.57 a barrel, its highest since May 31. U.S. West Texas Intermediate (WTI) crude gained 91 cents, or 0.8%, to $119.4.
Read More →Oil Swings Higher As Tight Supplies Overshadow Demand Destruction
Oil prices swung higher in volatile trading, as traders focused on tight supplies over slowing global economic growth.
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Oil Ticks Higher On Strong Demand, Tight Supply
Oil prices edged up on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine.
Read More →Oil Prices Fall Over 2% As Fed Hikes Interest Rates
Brent crude futures for August settled down $2.7, or 2.2%, at $118.51 a barrel, having fallen as low as $117.75. U.S. West Texas Intermediate crude for July fell $3.62, or 3.04%, to $115.31 a barrel, after dropping to a low of $114.60.
Read More →Oil Settles Up Despite OPEC+ Output Hike Plan; Supply Still Tight
Oil settled higher, supported by expectations that OPEC's decision to increase production targets by slightly more than planned will not add that much to global supply which should tighten as China eases COVID restrictions.
Read More →Oil Falls Around 3% As Investors Eye U.S. Fed Rate Hikes
Oil prices pared losses, however, during the session after Fed Chair Jerome Powell pledged an "overarching focus" on bringing down inflation and reiterated that ongoing increases in the central bank's policy rate would be appropriate, with the pace depending on the economic outlook.
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Ecuador Seeks Partner To Stop Gas Flaring As Anger Rises In The Amazon
Petroecuador said 15 companies have expressed interest, including Promigas SA and Gran Tierra Energy.
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Greek Court Overturns Decision On U.S. Seizure Of Iranian Oil Cargo - Report
A Greek court overturned an earlier court ruling that allowed the confiscation by the United States of part of a cargo of Iranian oil on an Iranian-flagged tanker off the Greek coast, three sources familiar with the matter said.
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Oil Prices Slump As Investors Fear Fed Rate Hikes Will Hurt Demand
Investors have been paring positions in risky assets as they assess whether inflation-fighting central banks could push the world economy into recession with higher interest rates.
Read More →
Rajesh Exports Setting Up India's First Display Plant With $3 Billion Investment
Rajesh Exports is also an applicant for Prime Minister Narendra Modi's $10 billion incentive plan to push companies to set up semiconductor and display operations in India.
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S.Korea Truckers End Strike; Govt Agrees To Extend Pay Guarantee
The latest round of talks were held at a major industrial transport hub near the capital, where Transport Minister Won Hee-ryong earlier warned the government may step in and force truckers to return to work or face jail.
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Brazil's Bolsonaro Says Deal Close To Buy Cheaper Diesel From Russia
Bolsonaro, a far-right former army captain, gave no further details. Neither Bolsonaro's office, nor Brazil's Mining and Energy Ministry immediately responded to requests for comment.
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Google Maps Launches Street View In India After 11-Year Wait
The Indian launch comes after Google was denied permission at least twice in the last decade by the government over security concerns.
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Chip Stocks Hammered As Micron Forecast Signals Waning Demand
Top memory chip maker Samsung Electronics, in an attempt to check an inventory glut, temporarily halted new procurement orders and asked some suppliers to delay or cut shipments of components for several weeks, Nikkei said last month.
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Twitter Sues Elon Musk To Hold Him To $44 Billion Deal
Musk is among Twitter's most-followed accounts and the lawsuit included images of several of his tweets, including a poop emoji, that the company said violated the merger's "non-disparagement" clause.
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Twitter Vows Legal Fight After Musk Pulls Out Of $44 Billion Deal
In a filing, Musk's lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company's business performance.
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India's Ola And Uber Deny Report Of Merger Talks
The two companies have been slugging it out in an intensely competitive Indian market and have spent billions in incentives and discounts to passengers.
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Indonesia Energy Firm Indika Eyes $2 Billion EV Venture With Taiwan's Foxconn
Indonesia's PT Indika Energy is considering jointly investing $2 billion with Taiwan-based Foxconn on electric vehicle (EV) manufacturing, batteries and energy storage.
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