By Shariq Khan (Reuters) -Oil price settled lower in volatile trading on Friday, with both benchmarks recording their biggest weekly declines in months, as growing recession fears negated any supply w[...]
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Middle East
Egypt’s pound keeps falling on black market ahead of IMF meeting
By Patrick Werr CAIRO (Reuters) – The gap between the official rate of the Egyptian pound against the dollar and the price on the black market has widened further, putting pressure on Egypt ahea[...]
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China’s Xi tells Gulf nations to use Shanghai exchange for yuan energy deals
BEIJING (Reuters) – China’s President Xi Jinping said in Riyadh on Friday that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform[...]
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U.S. puts sanctions on Turkish businessman, citing links to Iran’s Quds Force
By Humeyra Pamuk and Daphne Psaledakis WASHINGTON (Reuters) -The Biden administration levied sanctions on Thursday on prominent Turkish businessman Sitki Ayan and his network of firms, accusing him of[...]
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Oil falls on weakening demand, shrugs off Keystone closure
By Laila Kearney NEW YORK (Reuters) – Oil settled lower for a fifth straight session on Thursday as traders shrugged off the closure of a major Canada-to-U.S. crude pipeline, focusing instead on[...]
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U.S. says Russian oil price does not require checks on every tanker by Turkey
FORT WORTH, Texas (Reuters) – The U.S. Treasury said on Thursday that the price cap on Russian oil imposed by Western powers does not necessitate checks of every tanker passing through Turkish w[...]
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Turkey says to continue blocking oil tankers without proper insurance
ANKARA (Reuters) – Turkey’s maritime authority said on Thursday it would continue to block the passage of oil tankers without appropriate insurance letters, adding that the insurance check[...]
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Saudi Arabia, China sign MoUs on hydrogen – state news agency
DUBAI (Reuters) – Saudi Arabia and China have signed memorandums of understanding on hydrogen energy and the encouragement of direct investment between the two states, state news agency (SPA) sa[...]
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Azerbaijan’s SOCAR halts Russian crude supplies to Turkish refinery
LONDON/MOSCOW (Reuters) – The trading arm of Azerbaijan’s state oil firm SOCAR has paused purchases of Russian crude oil for its Turkish refinery as the industry grapples with EU sanctions[...]
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