Friday, April 26, 2019, 7:59 AM
The biggest threat to President Trump's hopes for low-gasoline-prices is his growing entanglement in politics of OPEC nations. The White House plans to choke-off oil-exports from Iran without triggering a spike in prices largely by getting Saudi Arabia, the only OPEC member with significant spare capacity, to make-up the shortfall. The US crackdown may slash Iran's exports by as-much-as 800,000 barrels a day.
Thursday, April 25, 2019, 8:36 PM
Brent oil rose above $75 per barrel on Thursday for the first time this year as quality concerns forced the suspension of some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran. Brent crude futures were at $75.22 by 0851 GMT, up 65 cents. US West Texas Intermediate crude was at $66.09 per barrel, up 20 cents.
Friday, March 22, 2019, 7:11 AM
Oil held near 2019 highs on Thursday, supported by tightening U.S. stocks and declining output from key producers due to OPEC production cuts and U.S. sanctions on Iran and Venezuela. International Brent crude oil futures were up 5 cents at $68.55 a barrel by 0915 GMT, having hit their highest since Nov. 13 at $68.69 earlier in the session.
Tuesday, March 19, 2019, 9:06 AM
The Indian rupee Monday surged by 57 paise to close at an over seven-month high of 68.53 against US dollar, also marking a sixth straight session of gains, driven by sustained foreign fund inflows and narrowing trade deficit. Besides, weakness in the greenback against major global currencies and a heavy buying in domestic equities aided the forex market sentiment domestically.
Sunday, March 10, 2019, 8:00 PM
Petroleum Minister Dharmendra Pradhan has conveyed India's concerns over rising crude-oil-prices and its effect on domestic-fuel-rates in his meeting with Saudi Arabian Minister of Energy, Khalid Al-Falih, an official said. Speaking to Al-Falih here on Saturday, Pradhan talked of the need for uninterrupted supplies of crude oil and LPG to India in view of the supply cut by OPEC and other major oil producers.
Tuesday, March 5, 2019, 7:53 PM
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.
Thursday, February 28, 2019, 7:59 AM
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.
Saturday, February 16, 2019, 8:18 PM
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.
Saturday, January 5, 2019, 8:17 AM
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.
Thursday, December 13, 2018, 9:07 AM
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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