Tag: Oil

COLUMN-China, India buying adds support to bullish gold narrative: Russell  Reuters

An appreciation in China’s yuan might not be a good way to deal with rises in commodity prices, the state-owned Economic Information Daily said in a front-page commentary on Wednesday.

* U.S. 2-year note auction attracts strong demand * U.S. yield curve flattens as inflation worries ease * U.S. reverse repo volume surges to 3rd highest since launch (Adds bullets, details, updates prices) By Gertrude Chavez-Dreyfuss and Karen Pierog NEW YORK…

Israel’s Paz Oil (PZOL.TA) swung to a first-quarter profit, saying on Tuesday there was higher demand for fuel as the country emerged from a coronavirus lockdown.Paz, Israel’s largest distributor of refined oil products, said it earned an adjusted 30 million shekels ($9.3 million)in the quarter, versus a loss of 97 million a year prior. Revenue…

New York City’s school system, the largest in the country, will offer no remote learning option in the fall, requiring all of its 1.1 million students to attend classes in person after more than a year of disruption caused by the pandemic, Mayor Bill de Blasi…

Royal Dutch Shell (RDSa.L) agreed to sell its controlling interest in a Texas refinery to partner Petroleos Mexicanos (Pemex) for about $596 million, the latest move by the European oil major to cut its global refining footprint.The deal ends a 28-year partnership between Shell and Pemex, Mexico’s state-run oil company that processed up to 340,000…

Australian shares inched higher on Monday, helped by a rise in energy stocks, while investors looked to U.S. inflation data due later this week that could determine the Federal Reserve’s monetary policy stance.

Taiwan’s government on Monday nullified a decision by an island that sits close to China to mandate COVID-19 tests for all arrivals, rebuking it for not following the law even as authorities deal with a rise in domestic infections.Taiwan is dealing with a spike in cases after months of keeping the pandemic well under control,…

© Reuters. FILE PHOTO: A man carries Nigerian naira banknotes at a livestock market in Abuja, Nigeria July 29, 2020. REUTERS/Afolabi Sotunde By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s economy grew 0.5% in the first quarter, lifted by higher crude production and oil prices, the country’s statistics office said on Sunday, as activities slowly gain…

Ports on India’s eastern coast on Sunday restricted shipping activities and asked vessels to vacate anchorages ahead of a cyclonic storm expected to make landfall on Wednesday, port authorities and trade sources said.The Indian Meteorological Department (IMD) has warned that a “very severe cyclonic storm” would impact Indian states including Odisha and West Bengal, where…