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Oil prices sink to year's low as equity slump adds to supply fear

Tuesday, December 18, 2018, 8:09 PM

Oil sank to another one-year low in New York as a sell-off in equities worsened crude market sentiments already soured by signs of plentiful American supplies. Futures in New York slipped as much as 4.1% after closing below $50 on Monday for the first time since October 2017. The US government expects shale-oil production to surge, potentially swelling already-abundant inventories.
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Cyclone Phethai: 1 killed in Andhra Pradesh, Odisha on high alert

Tuesday, December 18, 2018, 8:08 PM

Cyclone Phethai barrelled through coastal Andhra Pradesh on Monday, triggering heavy rains, uprooting trees and electric poles, and claiming one life, officials said. A boat carrying seven fishermen went missing in the Bay of Bengal off Visakhapatnam, even as Phethai crossed the coast in East Godavari district and moved towards Odisha after weakening gradually, the Chief Ministers Office said Monday night.
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Closing bell: Sensex rises 77 points, Nifty settles above 10,900

Tuesday, December 18, 2018, 8:08 PM

Indian benchmark indices rose for the sixth straight session on Tuesday led by gains in power and energy stocks such as NTPC and Power Grid. Shares of oil marketing companies rose as crude oil price declined over 2%. The BSE Sensex closed 77.01 points, or 0.21%, up at 36,347.08, and the Nifty 50 ended 20.35 points, or 0.19%, higher at 10,908.70.

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