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US oil prices are also set for a 3.9% gain this week, and have chalked up their longest rally since April 2022. So why are oil prices climbing? Oil output cutsAccording to the International Energy Agency, global oil demand is expected to rise by 2.2 million barrels per day to a record 102 million this year. But global oil production is forecast to rise by only 1.5 million barrels per day to 101.5 million, the agency said in a report this month. That failed to materialize, a factor that weighed on oil prices earlier this year.
Persons: , , ” Giovanni Staunovo, Staunovo, Justin Sullivan, Edward Gardner, Gardner, Xi Jinping Organizations: London CNN —, Brent, International Energy Agency, Organization of, Petroleum, OPEC, UBS, CNN, Saudi, Getty, Capital Economics, Communist Party’s Locations: Ukraine, China, Russia, Saudi Arabia, Riyadh, Gulf, Europe, France, Spain, Germany, Europe’s
Gold slips as dollar advances with US debt talks dragging on
  + stars: | 2023-05-24 | by ( ) www.cnbc.com   time to read: +2 min
Gold slipped as the dollar firmed, cutting some safe- haven flows into bullion from the looming risk of a U.S. debt default as talks entered a critical stretch. "Overwhelmingly, the debt ceiling headlines are at play.... Gold gained in the previous session "despite headwinds from a rising broad dollar, which reveals notable demand behind the scenes." Wall Street's main indexes opened lower as the debt ceiling impasse kept investors on edge. If regional U.S. banking troubles were to subside and agreement reached over the debt ceiling, gold could fall further, said Edward Gardner, commodities economist at Capital Economics.
Persons: Gold, Joe Biden, Kevin McCarthy, Daniel Ghali, TD Securities . Gold, Edward Gardner, Bullion Organizations: Democratic, TD Securities ., Capital Economics Locations: Moscow, U.S
The seven most advanced economies in the world, the G-7, are discussing imposing sanctions on Russian diamond exports — a complicated measure that could potentially hike prices for the luxury commodity. Russia's diamond exports have largely been spared from international sanctions following Moscow's full-scale invasion of Ukraine in February last year. In 2021, Russia raked in roughly $4.7 billion from diamond exports, according to data from the Observatory of Economic Complexity. Diamonds are not commonly traded like oil or gold, but they represent a large market that goes beyond jewelry. Some countries — such as Belgium, which buys a significant amount of Russian diamonds — want a "global approach" to Russian exports, as opposed to an EU-specific measure, to ensure the sanctions do not disproportionately hurt them.
The semi-automatic Cobray pistol recovered in the Monterey Park, Calif., shooting, was modified with what appears to be a homemade suppressor. Gun recovered in Monterey Park shooting An annotated image of a semi-automatic Cobray pistol linked to a mass shooting in Monterey Park, Calif. A close-up of a suppressor attached to the pistol shows wire and duct tape wrapped around it. Suppressor Upper receiver DETAIL BELOW Carrying strap The combined length of the pistol and the suppressor was over two feet. Wire was used to secure the suppressor cover and to attach a carrying strap to the front and rear of the pistol. Suppressor Tape layers An adapter attached to the pistol’s threaded barrel held the suppressor in place.
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