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Oil seen rising to $64-65 per barrel

Oil seen rising to $64-65 per barrel

BAGHDAD: Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach $64 or $65 per barrel. “I don’t think they (prices) will ...

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Oil retreats as rising U.S. inventories continue to weigh

Oil retreats as rising U.S. inventories continue to weigh

NEW YORK: Crude oil futures fell sharply on Thursday as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand. While Brent losses were tempered by those expectations for improving global demand ...

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Oil market rebounds on US energy report

Oil market rebounds on US energy report

NEW YORK: Global oil prices rebounded sharply Wednesday after a mixed US oil inventories report left traders focusing on its positive elements for demand: falling gasoline and distillates stockpiles. New York’s benchmark West Texas Intermediate for April leaped $1.71 to ...

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Euro weakens as wary market watches Greek debt plan

Euro weakens as wary market watches Greek debt plan

NEW YORK: The euro weakened against the dollar Monday as traders waited to see if Greece could complete the agreement reached last week with eurozone partners on its bailout program. Greece’s new anti-austerity government late Monday said it would miss ...

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Petroleum prices likely to go up

Petroleum prices likely to go up

ISLAMABAD: The government is likely to raise up to Rs5 per litre prices of petroleum products for the month of March. According to finance ministry sources, price of petrol is likely to go up by Rs3.90/litre; high speed diesel Rs.5 ...

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Euro firm as markets pin hopes on Greek debt deal

Euro firm as markets pin hopes on Greek debt deal

TOKYO: The euro held firm in early Asian trade on Wednesday, as investors stuck to hopes that Greece will find common ground with its euro zone partners and avoid a chaotic exit from the currency union. The euro traded at ...

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Euro firm as markets pin hopes on Greek debt deal

Euro firm as markets pin hopes on Greek debt deal

TOKYO: The euro held firm in early Asian trade on Wednesday, as investors stuck to hopes that Greece will find common ground with its euro zone partners and avoid a chaotic exit from the currency union. The euro traded at ...

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Pakistan, India fail to resume Kashmir trade

Pakistan, India fail to resume Kashmir trade

MUZAFFARABAD: Pakistani and Indian officials have failed to reach agreement on the resumption of trade across their de facto border in the disputed territory of Kashmir. Trade was suspended after Indian authorities Friday detained a Pakistani truck driver accused of ...

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Oil climbs, Brent posts best two weeks since 1998

Oil climbs, Brent posts best two weeks since 1998

NEW YORK: Oil rallied again on Friday, with benchmark Brent crude having its largest two-week gain in 17 years, as falling oil rig counts and violence in producer Libya helped further stall a selloff that began in June. Crude prices ...

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