Economics

Oil Prices Climb on Middle East Tensions and Anticipated US Rate Cuts

Crude oil prices have seen an uptick at the start of this week, following a previous week of losses, as escalating violence in the Middle East stokes concerns over supply. Additionally, signals from the US Federal Reserve hinting at possible interest rate cuts next month have influenced market movements. Brent crude was trading above $79

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Business

Sri Lanka Awards Crude Oil Supply Contract to Vitol Asia (Singapore)

Sri Lanka’s Cabinet has approved a contract for the purchase of three shipments of Murban crude oil from November 15, 2024, to April 14, 2025, to Vitol Asia (Singapore) Pte Ltd. The agreement, as stated by a government release, involves acquiring 2,100,000 barrels of Murban crude, with a margin of ±5%, on a payment basis

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