Search Result for : Crude Oil Prices

The Dollar Business Bureau Four Arab nations - Bahrain, Egypt, Saudi Arabia, and the United Arab Emirates (UAE) announced on Monday that they were cutting off diplomatic relations with Qatar, as the tensions intensify in the region over allegations that the country is sponsoring terrorism. The rift started between Qatar and the Arab nations after Doha in May alleged that the hackers took over its government run news agency and fake comments have been published from its Emir with regards to Iran and Israel. At that time, these four nations had blocked all media from Qatar, including Al-Jazeera. The four nations also announced that within next few days, they would withdraw their diplomatic missions from Doha. The countries have cut off all sea ...

The Dollar Business Bureau Keeping in view the US’ recovering economy and the investors’ positive sentiments around it, the US Federal Reserve Chair Janet Yellen on Friday said the fed will adopt a more aggressive rate path ahead, first by raising interest rates at its next meeting on March 14-15, and possibly make further adjustments after the meeting.   "At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal fund rates would likely be appropriate," Yellen said. “We realise that waiting too long to scale back some of our support could potentially require us to raise rates rapidly sometime down the road, ...

The Dollar Business Bureau  The rights to 31 oil and gas exploration blocks comprising 44 small fields, which were auctioned under the Discovered Small Field (DSF) Bid Round 2016, have finally been approved by the government on February 15, 2017.  The development of these new sites is expected to yield an additional 15,000 barrels of oil per day, contributing significantly to PM Modi's goal of reducing dependence on oil imports by 10% by 2022. Owing to this expansion, gas output is expected to increase by 2 million cubic meters per day.  The revenue over the next 15 years from these sites has been pegged at Rs.46,000 crore, of which 9,600 crore will proceed to the government.  The new fields have been awarded to a mix of new players like Sun Petrochemicals, Megha Engineering and Infrastructure, and established ...

PTI Impacted by note ban, retail inflation fell to multi-year low of 3.17 per cent in January and may prompt the Reserve Bank to have a re-look at its hawkish monetary stance in the next policy due in April. Retail inflation has declined because of the impact of cash crunch following demonetisation of old Rs 500 and Rs 1000 notes with effect from November 9, 2016, experts said. In its policy last week, RBI retained the benchmark interest rate and changed the stance from 'accommodative' to 'neutral', indicating that there won't be any rate cut in near term. It may however have to review its policy stance in the wake of retail inflation touching multi-year low in January. ...

The Dollar Business Bureau Crude oil prices fell more than 1% on Monday as investors accumulated profits after three weeks of gains. Early Monday, Brent crude was trading at $44.61/ barrel, down 1.1%, or 50 cents. The International Energy Agency (IEA) predicts crude oil prices to gradually pick up in 2018, but only after oil output in China, Colombia, Mexico, Russia and the US reset the global supply and demand prospects. The IEA forecasts oil demand growth to be around 1.2 million barrels in 2016, a rise in more than 33% slump from over 1.8 million-barrels-a-day expansion in 2015. "Fundamentals remain bearish and are set to deteriorate further, especially if prices move higher," Morgan Stanley said in a statement. "Still-elevated inventory levels, the return of ...

Stocks fell around the world on Wednesday, impacting majorly the Asian markets, as the price of crude declined on the news that the three-day strike by oil workers in Kuwait ended, suddenly leaving the markets directionless. As concerns about oversupply of oil in the market returned to the forefront, prices of Brent crude and US crude oil futures slumped. Reversing Tuesday’s sharp gains, Brent crude fell by $1.12 to $42.91 a barrel, whereas US crude oil was down  $1.09 to $39.99. The concerns over Chinese economy also resurfaced as Shanghai Stock Exchange slid 3.8 percent, with almost all the sectors from telecoms to financials witnessing a slide. The depressing mood of the market also reflected due to 0.3 percent fall in S&P 500 EMINI ...

Source: PTI India’s recent agreement with Japan on developing environmentally-friendly nuclear energy for civilian use is the right step and will boost the country's renewable energy plans, the IEA said in Singapore on Friday. “We support India’s renewable energy plans, the building of solar industry hub in the country and its approach to nuclear as a civic energy source,” International Energy Agency executive director Fatih Birol told PTI after launching the 2015 medium term market report for coal in Singapore. Paris-based IEA is an autonomous intergovernmental organisation which works to ensure reliable, affordable and clean energy for its 29 member countries and beyond. Birol said that India with its right safety policies will work out nuclear energy deal with the rest of ...

Manish K. Pandey | The Dollar Business   It was September 15, 2008. Financial services behemoth Lehman Brothers, holding over $600 billion in assets, filed for Chapter 11 bankruptcy (the filing remains the largest bankruptcy filing in US history till date). And the financial world came to a standstill. After all, it was the first big casualty of the US housing crisis that abruptly halted a nearly threedecade- long expansion of global financial markets [from 1980 through 2007, the world’s financial assets nearly quadrupled in size relative to global GDP; as per Mckinsey Global Institute]. Not only did the total value of global assets fall by $16 trillion, the deluge also washed away the dreams and hopes of millions of investors around the world. In fact, falling equities accounted for ...