DUBAI/LONDON: Oil's price rally this year to its highest since May 2015 may seem a source of glee for Opec, but some in the producer group fear the gains could prompt shale companies to crank open their spigots and flood the market. Benchmark Brent crude rose further above $68 a barrel on Tuesday, supported by oil output cuts led by the Organisation of the Petroleum Exporting Countries and allies including Russia that are due to run until the end of 2018.The surge comes as a welcome boost for the revenues of oil-producing nations, many still reeling from a price collapse that started in mid-2014 when crude began to fall steeply from above $100 per barrel due to oversupply.Some in Opec are worried a prolonged rally could stimulate more US shale oil output, however, creating more oversupply that could weigh on prices and market share."We all are excited about the rally and want to see if it will be sustainable during the year, as it will certainly whet the appetite of shale producers," … [Read more...] about Opec’s oil-price cheer tempered by US shale fears
Prices
Ethereum price jumps again as it approaches a new all-time high
Digital currency ethereum gains more than 7% to trade above $1,200 for a second consecutive day. It passed $1,000 over the weekend. Ethereum’s market capitalisation is now around $119 billion. LONDON – The price of cryptocurrency ethereum is closing in on a fresh all-time high during European morning trade on Tuesday as its recent rally shows no signs of stopping. Ethereum, the second biggest cryptocurrency after bitcoin, crossed $1,000 per coin for the first time on Friday, and continued to gain over the weekend, surpassing $1,200 on Monday morning, before hitting a fresh record high of $1,261.41 at around 5.00 a.m. GMT.The cryptocurrency then dipped a little as Monday’s trade continued, but has climbed once again on Tuesday, hitting a daily high of $1,217, a gain of roughly 7.5%, at around 8.20 a.m. GMT (3.20 a.m. ET), as the chart below shows:Ethereum’s recent rally first started after a … [Read more...] about Ethereum price jumps again as it approaches a new all-time high
Gold prices up B50 to B20,150
The Gold Traders Association this morning announced the buying prices at 19,692.84 baht per baht-weight for gold ornaments and 20,050.00 baht per baht-weight for gold bar. The selling prices were set at 20,650.00 baht per baht-weight for gold ornaments, and 20,150.00 baht per baht-weight for gold bar.The prices rose 50 baht from Monday's close.The buying prices closed on Monday at 19,647.36 baht per baht-weight for gold ornaments and 20,000.00 baht per baht-weight for gold bar.The selling prices closed at 20,600.00 baht per baht-weight for gold ornaments, and 20,100.00 baht per baht-weight for gold bar.The prices were adjusted twice on Monday, down 50 baht from the previous day. … [Read more...] about Gold prices up B50 to B20,150
Loblaw places restrictions on $25 gift card offer after bread price-fixing scheme
Qualifying for a $25 gift card from Loblaw Cos. Ltd. issued as a goodwill gesture to help offset 14 years of price-fixing has turned out to be more complicated than shoppers were originally led to believe, and has already led to a court challenge.Lawyers in a proposed class action lawsuit against Loblaw Cos. and other grocers were in Ontario Superior Court on Monday arguing that restrictions Loblaw has attached to claiming the $25 card should be struck down.When it was announced in December, the $25 was described by Loblaw as a gift card. But the form to claim the card, released Monday, requires consumers to waive their rights to the first $25 of any future financial settlement that may arise. … [Read more...] about Loblaw places restrictions on $25 gift card offer after bread price-fixing scheme
Gold prices steady at B20,150
Gold prices were unchanged at 20,150.00 baht per baht-weight in Bangkok on Wednesday. The Gold Traders Association announced the buying price at 20,050.00 baht and the selling price at 20,150.00 baht per baht-weight for bullion.For ornaments, the buying and selling prices were 19,692.84 baht and 20,650.00 baht per baht-weight respectively.The prices were adjusted once on Tuesday, up 50 baht from the previous day. … [Read more...] about Gold prices steady at B20,150