India may take oil from Iran, Venezuela again under new US admin
NEW DELHI: India may pursue a case for resumption of oil supplies from sanction-hit Iran and Venezuela once the Joe Biden administration takes charge in the US. Sources in the Oil Ministry said that as a big importer of oil, India wanted to have a diversified market for crude and in this, if traditional markets […]
Saudi, Russia outline record oil cut under U.S. pressure as demand crashes
By Rania El Gamal, Olesya Astakhova, Ahmad Ghaddar DUBAI/MOSCOW/LONDON: OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis. But the group, […]
Sensex sinks 642 points as crude oil woes persist
NEW DELHI: Market benchmark BSE Sensex on Tuesday plummeted 642 points as investors weighed India’s fiscal worries due to soaring crude prices in the wake of growing geopolitical tensions in the Middle East. After nosediving 704 points, the 30-share index ended 642.22 points, or 1.73 per cent, lower at 36,481.09. The broader NSE Nifty too […]
Global factors, rupee, oil to drive stock markets this week: Experts
NEW DELHI: Trend from global equities, macroeconomic data as well as movement of the rupee and crude oil prices will set the tone for the stock markets in the holiday-shortened week ahead, say experts. Bourses would remain closed on Wednesday and Thursday for ‘Diwali Laxmi Pujan’ and ‘Diwali Balipratipada’. The BSE and NSE will conduct […]
Indian rupee jumps 41 paise to 3-week high of 73.16 against dollar as crude falls
NEW DELHI: The Indian rupee strengthened by 41 paise to close at more than three-week high of 73.16 against the US currency Wednesday as global crude oil prices eased and domestic equity markets staged a smart rebound. Forex dealers said softening crude oil prices supported the rupee’s upward movement. On Tuesday, Saudi Arabia pledged to […]