0858 GMT May 24, 2022
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President Seyyed Ebrahim Raeisi instructed the Agriculture Ministry to devise scientific plans to make the country self-sufficient in the production of basic commodities and end reliance on imports.
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Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply.
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Oil slumped nearly 5% to the lowest in almost two weeks on Monday, extending last week's decline as concern grew that prolonged COVID-19 lockdowns in Shanghai and potential increases to U.S. interest rates would hurt global growth and oil demand.
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Oil prices rose on Monday in choppy trade, with Brent crude topping $112 a barrel, as outages in Libya deepened concern over tight global supply.
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The world’s governments have pledged more than $710 billion to “sustainable recovery measures” by the year 2030 since the beginning of the COVID-19 pandemic, the International Energy Agency said.
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Oil prices rose by more than 2% on Wednesday after Moscow said that peace talks with Ukraine had hit a dead end, fuelling supply worries, while weak economic data from China and Japan kept a lid on gains.
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Prices for wind and solar power in major global markets have climbed nearly 30% in a year as developers have struggled with chaotic supply chains and surging costs for everything from shipping to parts to labor, according to a report published on Wednesday.
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World food prices jumped nearly 13% in March to a new record high as the Ukraine conflict caused turmoil in markets for staple grains and edible oils, the U.N. food agency said on Friday.
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The Iranian Agriculture Ministry (MAJ) has ordered imports of red meat into the country in an attempt to control rising prices in the domestic market.
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Oil prices spiked to their highest levels since 2008 on Monday amid market supply fears as the United States and European allies considered banning Russian oil imports.
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Oil prices rose on Friday after the International Energy Agency (IEA) said oil markets were tight.
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Oil prices were stable around $90 per barrel on Wednesday but the prospect of increased supply from Iran and the United States kept pressure on the market.
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Oil slipped on Tuesday, staying close to a seven-year high, weighed by speculation OPEC+ could go further than expected to add supply at a meeting this week and expectations of a rise in U.S. inventories.
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Oil prices were steady on Monday as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output.
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Oil prices were steady on Wednesday as fears of tight supply were offset by COVID-19 concerns after Singapore suspended quarantine-free travel and Australia renewed its vaccination push due to a surge in Omicron variant cases.
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