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Oil prices slip on slowing global growth, Brent crude reaches $75 40 per barrel

Oil prices slip on slowing global growth, Brent crude reaches $75.40 per barrel Brent crude LCOc1 for September fell 15 cents, or 0.2%, to $75.40 a barrel by 0411 GMT while US West Texas Intermediate crude CLc1 for August was at $74.44 a barrel, down 12 cents, or 0.2% Oil prices slumped last Tuesday after the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, did not reach an agreement to increase output from August Reuters Updated Jul 12, 2021, 12:07 PM IST Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled.

Saudi to supply full contract of Aug-loading crude to at least 5 Asian buyers: Report

Saudi to supply full contract of Aug-loading crude to at least 5 Asian buyers: Report
livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.

Macro Roundup (Jul 12)_SMM | Shanghai Non ferrous Metals

Macro Roundup (Jul 12) CST Source:SMM The dollar edged lower on Friday, along with the Japanese yen, as riskier currencies were favored, with the rally in US Treasuries running out of steam and global stock markets steadying. SHANGHAI, Jul 12 (SMM) This is a roundup of global macroeconomic news last night and what is expected today. The dollar edged lower on Friday, along with the Japanese yen, as riskier currencies were favored, with the rally in US Treasuries running out of steam and global stock markets steadying. Some recent soft US data, along with a surge in COVID-19 cases in many parts of the world, has fueled concerns that the global economic recovery was running out of steam, leading to an eight-day streak of declines for the 10-year Treasury yield that ended on Friday.

Oil prices slip as slowing progress worries offset tightening supplies

By Florence Tan SINGAPORE (Reuters) -Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled. Brent crude for September fell 15 cents, or 0.2%, to $75.40 a barrel by 0411 GMT while U.S. West Texas Intermediate crude for August was at $74.44 a barrel, down 12 cents, or 0.2%. The spread of coronavirus variants and unequal access to vaccines threaten the global economic recovery, finance chiefs of the G20 large economies warned on Saturday. A Reuters tally of new COVID-19 infections shows them rising in 69 countries, with the daily rate pointing upwards since late-June and now hitting 478,000. https://graphics.reuters.com/world-coronavirus-tracker-and-maps

Gasoline prices up by P1 15/liter; diesel by P0 60/liter

Published July 12, 2021, 2:38 PM Filipino consumers are in for a tighter financial squeeze this week, as fuel products will be rising anew – and it will be a big-time hike of P1.15 per liter for gasoline products; and P0.60 per liter for diesel. The other commodity that will have higher prices in the triumvirate of product cost movements will be kerosene, which will increase by P0.65 per liter as announced by the oil companies. As of this writing, the industry players that already sent notices on their upward price adjustments had been Pilipinas Shell Petroleum Corporation, Seaoil Philippines, Cleanfuel and PetroGazz effective on Tuesday (July 13); while their competitor-firms are anticipated to follow their pricing leads.

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