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Reuters

Dec 25, 2022, 3:09 PM

U.S. Senator Manchin Says Treasury Should Limit Commercial EV Tax Credit Use

The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others.

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  Reuters | Dec 25, 2022

  Oil Muted As Price Cap Proposal Eases Supply Concerns

  A bigger-than-expected build in U.S. gasoline inventories and widening COVID-19 controls in China also added downward pressure on crude prices.

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  Reuters | Dec 25, 2022

  Ukraine's Zelenskiy Says Europe Must Avoid Division, Set Low Price For Russia's Oil

  Ukraine's President Volodymyr Zelenskiy on Friday called on Europeans to remain united against Russia's war and to severely limit the price for Russian oil.

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  Reuters | Dec 25, 2022

  Oil Prices Fall 2% As Chinese Demand Worries Linger

  U.S. West Texas Intermediate (WTI) crude futures were down $1.66, or 2.1%, at $76.28 a barrel. There was no WTI settlement on Thursday due to the U.S. Thanksgiving holiday and trading volumes remained low.

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  Reuters | Dec 25, 2022

  OPEC+ Meeting To Take Into Account Market Conditions: Report

  OPEC+'s October decision to reduce production by two million barrels per day (bpd) had played an important role in stabilising global markets, Saadoun, who serves as Iraq's delegate to OPEC, said.

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  Reuters | Dec 25, 2022

  India Shares Defy Global Weakness, On Oil Slide To Close At New Record

  The NSE Nifty 50 index rose 0.27% to settle at 18,562.75, and the S&P BSE Sensex climbed 0.34% to end at 62,504.80, with both notching closing highs for the third straight session.

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  Reuters | Dec 25, 2022

  India To Receive First LNG Cargo From Indonesia's Tangguh LNG

  The LNG cargo is being transported by the BW Helios tanker, said Olumide Ajayi, senior LNG analyst at Refinitiv.

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  Reuters | Dec 25, 2022

  U.S. Crude Turns Positive, Brent Pares Losses On OPEC+ Cut Rumors

  Price action was volatile. U.S. West Texas Intermediate (WTI) crude settled up 96 cents, or 1.3%, at $77.24, after earlier touching its lowest since December 2021 at $73.60.

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  Reuters | Dec 25, 2022

  Oil Prices Slid 2% As Dollar Firms And Central Banks Hike Interest Rates

  After rising for three straight days, Brent futures fell $1.49, or 1.8%, to settle at $81.21 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.17, or 1.5%, to settle at $76.11.

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