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Rupee snaps 6-day rally, settles 10 paise down at 70.80

Wednesday, February 13, 2019, 8:38 PM

Snapping its six-day winning run, rupee Wednesday settled 10 paise lower at 70.80 against US dollar amid rising crude-prices and heavy foreign fund outflows. Forex traders said dollar buying by oil-importers and strengthening of greenback against major-currencies overseas weighed on domestic-unit. At the Interbank Foreign Exchange market, rupee opened on strong footing at 70.48 and rose further to touch the day's high of 70.40.
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U.S. likely to cut number of Iran oil sanctions waivers in May: Analysts

Friday, January 18, 2019, 9:48 PM

The United States is likely to extend waivers from sanctions on Iranian oil imports in May but will reduce the number of countries receiving them to placate top buyers China and India and to decrease the chance of higher oil prices, analysts said. Washington surprised oil markets after granting waivers to eight Iranian oil buyers when the sanctions on oil imports started in November.
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Saudi Arabia to slash oil exports by 800,000 barrels per day

Thursday, January 10, 2019, 8:03 AM

OPEC kingpin Saudi Arabia will slash its oil exports in January by 10 percent compared to November, the energy minister said Wednesday. Khalid al-Falih said the kingdom, the world's top crude supplier, would cut its output to 7.2 million barrels per day in January, from 8.0 million bpd in November, with a further 100,000 bpd cut in February.

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