Investing.com– Oil prices rose in Asian trade on Monday, largely shrugging off a disappointing interest rate cut from major importer China as the prospect of tighter supplies supported the outlook. Concerns over slowing demand in China and rising U.S. interest rates had driven steep losses in crude prices over the…

By Florence Tan SINGAPORE (Reuters) – Oil prices were steady on Monday with Brent staying above $80 a barrel, as investors balanced tightening supply driven by OPEC+ cuts with nagging concerns about global demand growth amid high interest rates. dipped 8 cents to $84.72 a barrel by 0033 GMT while…

By Andrew Hayley BEIJING (Reuters) – China’s muted economic growth in 2023 as its post-COVID recovery underwhelms has crimped the outlook for demand for diesel fuel, the oil product that is the lifeblood of the economy, paving the way for continuing firm exports. Lower forecasts of Chinese diesel consumption further…

By Felix Onuah and Boureima Balima ABUJA/NIAMEY (Reuters) – A delegation from West Africa’s main regional bloc ECOWAS flew to Niger’s capital Niamey on Saturday to hold talks with the junta, an ECOWAS source told Reuters, as the bloc pursues diplomatic ways to reverse the July 26 coup. Coup leaders’…

By Muyu Xu SINGAPORE (Reuters) – Asian refiners are on the hunt for to replace Kuwaiti supply as the OPEC producer cuts exports by nearly a fifth to feed its huge new refinery, which is driving up prices for other sour crudes and likely to squeeze profit margins. Lower Kuwaiti…

By Timothy Gardner WASHINGTON (Reuters) – The Biden administration has tightened controls on the export of materials and components for nuclear power plants to China, saying it would ensure the items were used only for peaceful purposes and not the proliferation of atomic weapons. The steps are among the latest…

By Shariq Khan BENGALURU (Reuters) -Oil prices rose about 1% on Friday on signs of slowing U.S. output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1%, to settle…

Investing.com — It’s over finally — oil’s seven-week rally.  And direction for crude prices hereon will likely be dictated by whether China gets to show a serious jump in the number of barrels it’s buying — or at least muster enough positivity on its economy to conjure the notion that…

Investing.com — The conviction that gold has found a secure home at above $1,900 is being challenged by lower monthly milestones in the yellow metal’s price. And a fourth weekly loss. Gold futures’ most-active on New York’s Comex settled at $1,916.50 per ounce, up $1.30, or 0.01%, on the day.…

By Naveen Thukral SINGAPORE (Reuters) -Vietnamese exporters have renegotiated higher prices for around half a million metric tons of rice, two trade sources said, as global prices climbed to 15-year highs following India’s ban on overseas sales last month. This is the first confirmation of rice prices climbing in the…