Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand. Brent futures for March delivery gained 48 cents, or 0.6 per cent, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per barre
Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand.
The benchmarks were on track for a second straight week of gains. Both closed 1 per cent higher on Thursday, near their highest closing levels since Dec. 1. Federal Reserve Bank of New York President John Williams said on Thursday the U.S. central bank has more rate hikes ahead, and sees signs inflationary pressures might be starting to cool off from torrid levels.Meanwhile the dollar index was headed for a second consecutive weekly decline. A weaker dollar makes crude, priced in the currency, cheaper for foreign buyers.
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Indonesia aims to launch palm oil benchmark price by June - trade ministerJAKARTA : Indonesia plans to launch a crude palm oil benchmark price by June, the country's trade minister said on Thursday. 'If possible, before June we will have the palm oil (benchmark price), and no longer have to rely on Kuala Lumpur. We have more palm oil than them, why are we following Malaysia?' T
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Millions of Chinese workers on the move ahead of Friday travel peakEconomists are scrutinising the holiday season for glimmers of rebounding consumption. Read more at straitstimes.com.
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Millions of Chinese workers on the move ahead of Friday travel peakBEIJING - Millions of urban workers were on the move across China on Wednesday (Jan 18) ahead of the expected Friday peak of its Lunar New Year mass migration, as China's leaders looked to get its Covid-battered economy moving. Unfettered when officials last month ended three years of some of the world's tightest Covid-19 restrictions, workers streamed into railway stations...
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Millions of Chinese workers on the move ahead of Friday travel peakBEIJING: Millions of urban workers were on the move across China on Wednesday (Jan 18) ahead of the expected Friday peak of its Chinese New Year mass migration, as China's leaders looked to get its COVID-batte
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Australian Open 2023: order of play on FridayMELBOURNE : Order of play on the main showcourts on the fifth day of the Australian Open on Friday (prefix number denotes seeding):* Day session: From 11 a.m. local time (0000 GMT)* Night session: From 7 p.m. local time (0800 GMT)ROD LAVER ARENA5-Barbora Krejcikova (Czech Republic) v
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Japan's Fuji Oil plans maintenance at Sodegaura refinery around May-JuneTOKYO : Japanese refiner Fuji Oil Co Ltd plans to shut the 143,000 barrel-per-day (bpd) crude distillation unit (CDU) at its Sodegaura oil refinery for scheduled maintenance around May-June, a company spokesperson told Reuters.The maintenance at the refinery, near Tokyo, will be a minor one and is expecte
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