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economy

US expanded economic sanctions on Iran with petroleum and petrochemical sectors declared off-limits
14 Oct 2024 The US Treasury Department has expanded its economic sanctions on Iran, specifically targeting the country’s petroleum and petrochemical sectors, in response to the recent attack on Israel. The new measures aim to limit Iran’s ability to finance destabilizing activities in the region.
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14 Oct 2024

economy

Oil market settled lower on Friday but registered the second consecutive weekly gains

International oil benchmarks continued their downward trend on Friday, October 11, 2024, as investors grappled with a complex set of factors influencing the market, including the impact of Hurricane Milton on fuel demand in Florida, the potential for economic stimulus in China, and escalating geopolitical tensions between Israel and Iran.
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14 Oct 2024

economy

Dalian Commodity Exchange: 14 October 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 14 October 2024 settled as follows:
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14 Oct 2024

economy

China’s CEIC to invest in multi-billion dollar coal-to-oil project, targeting petrochemical sector

This initiative, located in Hami, Xinjiang province, is set to produce 4 million tons of oil products annually, primarily intended as feedstock for the petrochemical industry.
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11 Oct 2024

economy

Oil prices surged amid rising US demand and looming Middle East crisis

Hurricane Milton, which battered Florida, has exacerbated the situation by severely disrupting fuel distribution. The storm forced the closure of key fuel terminals, delayed tanker deliveries, and halted pipeline operations, deepening supply chain stress in the US market.
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11 Oct 2024

economy

ExxonMobil launches new polymers brand for enhanced industry collaboration

ExxonMobil has introduced Signature Polymers, a new brand unifying its polyolefin products. This initiative is designed to simplify product selection and strengthen partnerships across the value chain.
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11 Oct 2024

economy

Dalian Commodity Exchange: 11 October 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 11 October 2024 settled as follows:
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10 Oct 2024

economy

Oil slipped on rising US commercial stockpiles, but Middle East tensions temper losses

Oil prices fell on Wednesday after the U.S. Energy Information Administration (EIA) reported a significant increase in US commercial crude inventories. However, concerns over potential supply disruptions amid escalating tensions in the Middle East tempered the decline.
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