Donald Trump's Iran sanctions may spoil your Diwali
Saturday, October 27, 2018, 9:03 AM
In May, US President Trump re-imposed economic sanctions on Iran by withdrawing the 2015 nuclear accord. The sanctions will be kicking-in from November-5, just two-days ahead of Diwali. This could lead to oil-prices jumping back to $85 a barrel, subsequently resulting in higher-fuel-prices, which have been on a downward path lately. The trend may reverse if crude-oil-prices jump again, as widely expected, after November-4.
Oil prices continue fall amid global stock market slump
Thursday, October 25, 2018, 6:04 PM
Oil prices fell by around 1% today , coming under pressure from sharp selloffs in global stock markets, with U.S. stocks posting the biggest daily decline since 2011 to wipe out the year's gains. Front-month Brent crude oil futures LCOc1 were at $75.42 a barrel at 0043 GMT, 75%, or 1%, below their last close.