Oil held a two-day gain as tensions in the Middle East centered on OPEC member Iran supported a risk premium in prices.
Oil and metals markets are “substantially underinvested” and have significant upside, said Carlyle Group Inc.’s Jeff Currie, adding the longstanding oversupply narrative weighing down crude prices is overblown.
Lukoil PJSC attempted a surprise push into grains trading from Dubai last year, before the plan was quickly scuppered by US sanctions on the Russian oil giant, according to people familiar with the matter.
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