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Bloomberg Oil falls this week with spreading coronavirus cases in countries such as India tempering optimism around positive signs out of the US and Europe. Futures in New York rise the most in over a week, but were unable to reverse a 1.6% weekly loss as the market weighed a global economic reopening that’s coming in fits and starts. The ...

Bloomberg Oil falls amid concern that a resurgent virus will hurt demand in some economies, while industry data showed a slight build in US inventories. West Texas Intermediate retreated 1.1%, extending Tuesday’s decline. The renewed spread of Covid-19 in countries such as India is casting a pall over the global economic rebound, even as signs of an improvement in energy ...

Bloomberg Oil jumped above $64 a barrel, a year to the day after futures for the US benchmark collapsed below zero, with the world’s most important commodity extending a powerful rally on bets for better demand. West Texas Intermediate advanced 1.3%, adding to Monday’s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a ...

Bloomberg Oil steadied near $67 a barrel as the benefits of a weaker dollar were offset by the sweep of the coronavirus pandemic across key importer India. Brent futures traded little changed, paring an earlier decline as the dollar slipped, making commodities priced in the currency more attractive. Yet India reported record Covid-19 infections on Monday in a further blow ...

Bloomberg Oil posted the biggest weekly gain since early March as economic data in the US and China strengthened expectations for a recovery in global fuel demand. Futures in New York advanced 6.4% this week, despite eking out a small loss last week. On the heels of robust economic figures out of the US, data from China showed its gross ...

VIENNA / WAM The Opec Fund for International Development has announced the signing of a $50 million term loan agreement with ACWA Power to support the construction and operation of a 1.5 gigawatt (GW) combined cycle gas-turbine power plant in Sirdarya, Uzbekistan. The new plant, located near the border with Tajikistan, will replace an ageing, less efficient thermal power facility, ...

Bloomberg Boeing Co. has found potential electrical flaws in two additional areas of the 737 Max’s cockpit, a week after a similar manufacturing defect prompted a temporary flying halt for recently delivered jetliners, said people familiar with the matter. The planemaker has inspected the Max’s flight deck for other electrical faults near the flaw revealed last week with the plane’s ...

Bloomberg Oil advanced for a third day after the International Energy Agency (IEA) lifted its forecasts for demand and an industry report pointed to another decline in US crude stockpiles. Futures rise 1.6% in New York and are heading for the longest run of gains in over a month. The International Energy Agency lifted its forecasts for oil consumption this ...

Bloomberg Grab Holdings Inc, Southeast Asia’s most valuable startup, is going public in the US through a merger with blank-check company Altimeter Growth Corp. in what is the largest-ever deal of its kind. The Singapore-based startup is set to have a market value of about $39.6 billion after the combination with the special purpose acquisition company of Brad Gerstner’s Altimeter ...

Bloomberg Oil gained, topping $60 a barrel, as investors continued to assess the recovery in consumption globally. Futures in New York rose as the dollar fell, making commodities priced in the US currency more attractive. Federal Reserve Chair Jerome Powell said that the US economy was poised for stronger growth, but he cautioned that the pandemic remains a threat. That’s ...