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Commodities

Saudi Arabia oil output near record high in April, says minister
Opec had said its overall output surged to 30.79 million barrels per day in March, up 810,000 bpd from the previous month.
Kuwait says finds four new promising oilfields
The grades found in the fields were both light and heavy oil, with preliminary results showing “huge commercial volumes.
Oil spurts as US shale output eases; others mixed
Oil prices have fallen as much as 50 per cent since mid-2014 on the back of copious global supplies and weak demand.
Higher sales brewing for India tea exports
Barkakoty is hoping the crop-damaging drought in top tea exporter Kenya will open a window of opportunity for Indian planters like him as rains improve output prospects at home.
Oil climbs more than $1 after Saudi Arabia's Asia price hike
But expectations of an immediate increase in supply have been tempered as analysts warned a ramp-up in exports could take months and would likely not happen before 2016.
Oil slides on Iran nuclear deal
Easing of economic sanctions could lead to a potential crude oversupply.
Kuwait income plunges over oil price slump
The decline is mainly due to a 27.4 per cent dive in oil revenues from 27 billion dinars last year to 21.2 billion dinars.
Crude prices to stabilise in H2 as demand rises
Oil prices fell more than 60 per cent between June 2014 and January, and although they have recovered a little since then, they are still around half their level a year ago.
Gold falls 1% on strong US dollar
Any hike by the Fed, which has kept rates near zero since 2008 to stimulate the US economy, could further reduce demand for assets perceived as safer such as gold.
Oil slips on possible Iran deal, dollar
Brent crude was down 25 cents at $56.16 a barrel by 1250GMT as the market began to price in a deal with Iran. US crude was down 40 cents at $48.47.
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