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Brent Breaks Above $91 as Bullish Sentiment Builds
Oil prices rallied this week as geopolitical risk and supply issues added to bullish sentiment, although concern that the Fed might not cut interest rates this year could counter that sentiment.Friday, April 5th 2024Aided by a whirlwind of bullish news, Brent prices surpassed the $90 per barrel threshold and surged past the $91 per barrel mark on Friday morning. The anticipation of Iran’s retaliatory strike on Israel, a developing Mexico export shortage, and the continuation of OPEC cuts have...
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Subsidies, tax breaks detrimental to production, says IMF
The International Monetary Fund has said that most industrial policies rely heavily on costly subsidies or tax breaks, which could be detrimental to productivity and welfare if not effectively targeted. The multilateral lender stated this in a new report titled ‘Industrial Policy Is Not a Magic Cure for Slow Growth’. According to the global lender, Read More