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Oil scored a 16% quarterly gain in the latest sign that export curbs by OPEC and its allies are reining in global supplies. West Texas Intermediate futures closed above $83 a barrel on Friday, the highest settlement in more than a week. Timespreads this year have swung from bearish contango to a bullish backwardated structure — signaling a tightening ...
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Trafigura Group pleaded guilty to a decade of bribery in Brazil, in the latest in a string of corruption cases that have exposed a culture of widespread corruption inside the world’s biggest commodity traders. Trafigura entered a plea agreement with the US Department of Justice in a federal court in Miami on Thursday. The company will pay a fine of $80.4 ...