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Oil rises to month-high with output cut extension expected

Oil rises to month-high with output cut extension expected

Oil prices rose to their highest levels in more than a month on Monday, amid growing confidence that top exporters would agree to extend supply curbs this week and speculation that the cuts could be deepened further. India's petroleum and natural gas minister said Monday the country is considering U.S. and Canadian suppliers, as well as encouraging it to turn to renewable energy.


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US STOCKS-Wall St extends gains as defense, tech stocks rise

Wall Street extended gains in early afternoon trading on Monday, boosted by technology shares and as defense companies rose after the United States and Saudi Arabia signed a multi-billion dollar arms deal. President Donald Trump visited Saudi Arabia over the weekend and sealed $110 billion in deals through which Riyadh will buy U.S. arms to help it counter Iran, with options running as high as $350 billion over 10 years. Shares of defense firms General Dynamics, Raytheon , and Lockheed Martin all hit record highs before easing to trade up between 0.6 percent and 1.6 percent.


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Euro gains on Merkel comments, oil up on OPEC hopes

Euro gains on Merkel comments, oil up on OPEC hopes

The euro surged to a more than six-month high on Monday after German Chancellor Angela Merkel said it was "too weak," while oil prices were bolstered by expectations that top exporters will extend supply curbs this week. A one-month high for oil futures on hopes of a supply cut by the Organization of the Petroleum Exporting Countries helped Asian shares to their best session in weeks. European shares struggled to maintain momentum, but the U.S. stock market gained, lifted by defense and tech stocks, after U.S. President Donald Trump announced arms deals of up to $350 billion with Saudi Arabia over the weekend.


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