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Oil Drops Below $70 Over Reports Of U.S., Iran Nearing Nuclear Deal
Oil fell below $70 a barrel amid reports that the U.S. and Iran are nearing a deal, potentially paving the way for exports from the Islamic nation amid demand concerns. West Texas Intermediate fell as much as 4.8% to slip below $70 a barrel after Middle Eastern media reported that the U.S. has made progress in talks over the Iran’s nuclear programme.
Oil falls, pares losses on White House rebuttal of Iran deal report
(Reuters) -Oil prices pared some losses after falling by more than $3 a barrel on Thursday after the White House called a news report that the U.S. and Iran may be approaching a deal on oil exports false. Oil fell sharply on the report, which cited two unnamed sources as saying that Iran and the U.S. are nearing a temporary deal that would trade some sanctions relief in exchange for reducing Iran's uranium enrichment. But trade reversed on skepticism that oil sanctions would be lifted quickly and after the White House said the report was false.
Crude oil prices partially recover after US, Iran deny reported nuclear deal | Zee Business
Oil fell by more than $3 on the report that the U.S. would give Iran sanctions relief to export oil in return for Tehran reducing uranium enrichment. Get more Commodities News and Business News on Zee Business.
Steel Sector Check - Bright Spots Emerging In China: ICICI Securities
Domestic hot rolled coil price (in the week ended June 7, 2023) declined by an average of Rs 700/tonne week-on-week in traders’ market following the cuts taken by major steel companies amidst weak demand. Spot spread also contracted 3% week-on-week following a slight uptick in coking coal price. Indian HRC export price remained stable week-on-week at $570/tonne. Rebar price in primary market was down Rs 400/tonne week-on-week; however, in secondary market it remained broadly unchanged week-on-week.
April trade deficit narrows to 2-month low - BusinessWorld Online
By Abigail Marie P. Yraola, Researcher The Philippines’ trade deficit in goods narrowed to its two-month low in April, as imports and exports contracted by double digits to their lowest level in almost three years, the Philippine Statistics Authority reported on Friday. The country’s trade-in-goods balance—the difference between exports and imports— reached a deficit of […]