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Energy

Oil prices rose on Monday, supported by reports that an OPEC-led supply cut may not only be extended into next year but might also be deepened to tighten the market and prop up prices. Brent crudefutures were up 32 cents, or 0.6 percent, from their last close at $53.93 per barrel at 0145 GMT. U.S. West Texas Intermediate (WTI) crude futures were back above $50 per barrel, trading up 32 cents, or 0.6 percent, at $50.65. Both benchmarks have risen more than 10 percent from their May lows early in the month. Prices have risen because of expectations that a pledge by the Organization... Read more...

Bullion

Gold drifted weaker in Asia on Monday asDonald Trumps first visits abroad as president were in focus with a flurry of deals signed in Saudi Arabia in the first stop and with investors shrugging off the latest missile test byNorth Koreaat the weekend. Gold for June delivery eased 0.05% to 1,252.99 a troy ounce.futures on the Comex fell 0.62% a pound to $2.571 a pound. In the week ahead, investors will be looking at Wednesdays Federal Reserve meeting minutes for fresh indications on the possible timing of the next U.S. rate hike. Revised data on U.S. first quarter growth and private sector... Read more...