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economy

EIA: US commercial crude inventory surprisingly built up amid reduced refinery run rates
03 Oct 2024 This increase comes as a result of a modest uptick in domestic oil production, which rose to 13.3 million barrels per day from the previous week’s 13.2 million, and decreased demand from refineries.
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02 Oct 2024

economy

Oil prices surge 3% amid Middle East tensions and supply concerns

Oil prices surged by approximately 3% on Tuesday, marking a second consecutive of gains as escalating tensions in the Middle East heightened concerns about potential supply disruptions.
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02 Oct 2024

economy

Indonesia imposed anti-dumping duties on the import of BOPP end-products from two countries

Indonesia’s Finance Ministry, through Circular No. 60/2024, has imposed anti-dumping duties (ADD) on the import of Biaxially Oriented Polypropylene (BOPP) products originating from Malaysia and China, effective September 6, 2024.
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02 Oct 2024

economy

Freightos: Weekly Ocean Freight Index Update

The strike, led by the International Longshoremen’s Association (ILA) and its 47,000 members across major Eastern US and Gulf Coast ports, is primarily driven by demands for higher wages and safeguards against automation. As a result, most ports in these regions have effectively shut down.
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01 Oct 2024

economy

Oil prices steady despite geopolitical tensions, posting a 17% quarterly loss

Brent suffered a 9% drop in September, its steepest monthly decline since November 2022, and recorded a 17% quarterly slump, marking its largest in a year as prices fell for a third consecutive month.
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01 Oct 2024

economy

Daily losses of about $4 billion are anticipated from US port strike

Bloomberg estimates the strike will cost the US shipping industry between $3.8 billion and $4.5 billion per day. Other projected effects of the strike include worsening traffic at US West Coast ports.
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30 Sep 2024

economy

Dalian Commodity Exchange: 30 September 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 30 September 2024 settled as follows:
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27 Sep 2024

economy

Saudi Arabia's strategic shift sparked oil price drop as Middle East production rises

Oil prices dropped more than 3% on Thursday, September 26, following a report on Saudi Arabia's plan to abandon its $100/barrel price target. The move comes as oil production in the Middle East is set to increase
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