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Rupee spurts 43 paise to close at 70.49 against dollar

Tuesday, March 5, 2019, 7:53 PM

Rupee spurts 43 paise to close at 70.49 against dollar

The rupee rebounded by 43 paise to close at 70.49 against the US dollar Tuesday largely driven by positive macro data and easing crude prices. Forex traders said heavy buying in domestic equities and sustained foreign fund inflows also propped up the local unit. At the Interbank Foreign Exchange (forex) market, the domestic unit opened slightly down at 70.95.

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Crude prices headed north, but US output may slam the brakes

Thursday, February 28, 2019, 7:59 AM

Crude prices headed north, but US output may slam the brakes

Crude prices ended the week on a positive note after touching their highest highs since late November amid OPEC-led production cuts and the US sanctions against Venezuelan exports, which are helping cut down the excess global supply. The market is likely to continue to be supported by the Opec-led production cuts as well as the sanctions against Iran.

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Afghan Taliban likely to meet Saudi crown prince in Pakistan - sources

Saturday, February 16, 2019, 8:18 PM

Afghan Taliban likely to meet Saudi crown prince in Pakistan - sources

Saudi Arabia's Crown Prince Mohammed bin Salman is likely to meet Afghan Taliban representatives during his visit to Pakistan starting on Sunday, Pakistani government sources said, part-of-efforts to broker an end to Afghanistan's 17-year-old civil-war. Pakistan has been playing an increasingly vital-role in the Afghanistan peace talks, which have been gathering momentum in recent months amid a growing U.S. desire to pull-out its troops.

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Rupee recovers 48 paise to 69.72 against dollar

Saturday, January 5, 2019, 8:17 AM

Rupee recovers 48 paise to 69.72 against dollar

Indian rupee rebounded by 48 paise to settle at 69.72 against US dollar in line with smart gains in domestic equities and uptrend in other emerging market currencies. Also, sustained selling of American currency by exporters and banks propped-up rupee after two-successive-sessions of fall, traders said. Higher crude prices and sustained foreign fund outflows, however, capped the rupee gains to some extent, they said.

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India did not let Russian-owned refinery buy Iranian oil: Iran

Thursday, December 13, 2018, 9:07 AM

India did not let Russian-owned refinery buy Iranian oil: Iran

Iranian Oil Minister Bijan Zanganeh said on Wednesday that, because of U.S. sanctions, India had refused to allow a Russian-owned Indian refinery to use Iranian crude oil that India had obtained under waivers. "The Indian government had obtained a waiver (to import Iranian oil) but it uses it for its state refinery. It did not allow them (Russians) to take oil," Zanganeh said.

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Saipem says Shamoon variant crippled hundreds of computers

Thursday, December 13, 2018, 8:52 AM

Saipem says Shamoon variant crippled hundreds of computers

A hack on Italian oil services firm Saipem that crippled more than 300 of the company's computers used a variant of the notorious Shamoon virus, Saipem said, a development that links the case to a massive attack in 2012 on Saudi Aramco. Work is under way "in a gradual and controlled manner" to fully restore operations after the attack, it said.

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Iraq seeks exemption from U.S. sanctions on Iran, PM says

Wednesday, December 12, 2018, 9:08 AM

Iraq seeks exemption from U.S. sanctions on Iran, PM says

Iraq will send a delegation to US seeking an exemption from sanctions against Iran that would allow it to keep importing Iranian gas, PM Adel Abdul Mahdi said. Washington gave Iraq a 45-day waiver for imports of gas from Iran when it reimposed sanctions on Iran's oil sector on Nov-5. Iraqi officials have said they need around two years to find an alternative source.

News

 
OPEC, Russia agree to slash oil output despite Trump pressure

Saturday, December 8, 2018, 8:13 AM

OPEC, Russia agree to slash oil output despite Trump pressure

OPEC and its Russia-led allies agreed on December-7 to slash oil production by more than the market had expected despite pressure from US President Trump to reduce the price of crude. Oil-prices jumped about 5% to more than $63 a-barrel by 1500 GMT as the combined cut of 1.2 million bpd was larger than the minimum 1 million bpd that the market had expected.

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Oil drops as OPEC makes supply cut dependent on Russian support

Friday, December 7, 2018, 9:21 AM

Oil drops as OPEC makes supply cut dependent on Russian support

Oil prices fell on Friday, pulled down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia. International Brent crude oil futures LCOc1 fell below $60 per barrel early in the session, trading at $59.50 per barrel at 0144 GMT, down 56 cents, or 0.9 percent from their last close.

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HPCL to buy Iranian oil in Jan after six-month gap: sources

Friday, December 7, 2018, 8:36 AM

HPCL to buy Iranian oil in Jan after six-month gap: sources

State-run Indian oil refiner HPCL.NS will buy Iranian crude in January after a-gap-of six-months, with the nation's overall purchases from Tehran at 9 million barrels in month, four-industry sources said. The US in early November granted India a-six-month waiver from sanctions against Iran's oil exports. Under the agreement, New Delhi must restrict its Iran oil purchases to 1.25 million tonnes, or 9 million barrels.

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