Europe
Friday, 21 December 2012 15:23
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LONDON: Brent crude oil fell below $110 a barrel on Friday after talks in the United States to avert a budget crisis stalled, reviving worries about demand i n the world's biggest oil consumer.
Republican lawmakers failed to back an effort to head off $600 billion worth of tax rises and across-the-board spending cuts that could push the US economy into recession next year.
The move depressed stock markets, the euro and commodities but boosted the dollar.
Brent crude slipped 75 cents to $109.45 per barrel by 0930 GMT. Brent was on track for a second weekly rise and was up just under 2 percent for 2012 as a whole, having averaged around $111.70, not far above its 2011 average of $110.91.
The US budget stalemate had a larger impact on US crude , which dropped to a low of $88.93 and was trading down $1.05 at $89.08 by 0930.
"The latest news that came ...
HAMBURG: Germany's winter wheat sown area for the 2013 harvest has been expanded by 7 percent on the year to around 3.1 million hectares, Germany's national statistics office said on Thursday.
Sowings of winter grains of all types rose 9 percent on the year to around 5.49 million hectares, the office said.
Copyright Reuters, 2012 ...
LONDON: Copper steadied on Wednesday as fears eased about a US budget crisis after lawmakers closed in on a deal to avert expiring tax cuts and spending increases, although uncertainty about the outlook for demand kept prices soft.
Republicans tried to squeeze more concessions from the White House on taxes on Tuesday in political manoeuvring for a deal that would prevent the US economy from going over the so-called "fiscal cliff" in the new year.
Analysts said ...
LONDON: Brent oil rose above $109 a barrel on Wednesday on expectations that a budget crisis in the United States will be resolved, which would save the world's top oil consumer from slipping into recession.
World shares rose to 17-month highs, and the euro gained on growing investor confidence that a US pact on spending and taxes will be reached before a year-end deadline.
Brent crude was up 33 cents to $109.17 a barrel at 0923 GMT, ...
MOSCOW: Russian wheat stocks at farms, procurement and processing companies, excluding small farms, fell 40 percent for the year to date as of Dec. 1 SovEcon agricultural analysts said on Wednesday, citing data from the Federal Statistics Service.
The figures compare with the same period a year earlier.
Hot and dry weather in the summer slashed the wheat harvest by a third in Russia, historically the number three world exporter, prompting it to finish its harvest campaign ...
LONDON: Copper edged down on Tuesday as investors locked in some profits from recent gains after progress in negotiations to avert the US fiscal cliff that could send the world's biggest economy into recession.
The prospect of a deal to head off automatic spending cuts and tax hikes may already be partly priced into the copper market, which has gained about 6 percent since mid-November, compared with falls of about 1 percent in spot gold and ...
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