Energy news

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Maxed out
Markets stewed in their own juices overnight leaving equities and currencies and precious metals trading in noisy ranges, but ultimately finishing not too far from where they started. The big mover overnight was oil, which had another impressive rally, this time helped along by a Reuters story where France’s President Macron was overheard telling US President Biden at the G7 meeting, that a call to the UAE had informed him that both they and Saudi Arabia were maxed out on production capacity. Th
by Jeffrey Halley
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Oil edges lower, gold flat
Oil cools further amid some supply hope Oil prices are marginally lower at the start of the week after enjoying a bit of a rebound on Friday. We appear to be seeing an interesting moment in oil where a tight market is being priced against a likely economic decline, even a recession, which could help to rebalance it. And there may be other factors contributing in some way to the cooling-off, with Nigeria indicating that it will be able to hit its production quota by August having fallen well shor
by Craig Erlam
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