Commodities

Commodities

Date : 2024-07-19
Time : 10:00:00
Commodities
  • Oil prices fell in Asian trade on Friday, and were headed for a weekly loss amid persistent concerns over slowing demand in top importer China, while sentiment was also dented by concerns over trade ructions with the U.S.
  • Brent oil futures expiring in September fell 0.5% to $84.73 a barrel, while West Texas Intermediate crude futures fell 0.6% to $80.79 a barrel by 00:26 ET
  • Global electricity demand is set to grow at its fastest pace in nearly 20 years this year, spurred by increasing demand for air conditioning as temperatures rise, the International Energy Agency (IEA) said in a report on Friday.
  • Total renewable generation is forecast to also overtake coal-fired electricity output in 2025, but the more polluting resource is expected to remain resilient in 2024, adding less than 1% depending on hydropower output, especially in China.
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