Oil prices edge up but supply glut woes to continue
The Dollar Business Bureau Oil prices have marginally increased in Asia on Tuesday after decreasing 2% on Saturday. This is mainly due to a weak dollar. However, concerns of excess supply are likely to weigh on the global markets and traders expect a further fall in the oil prices. Brent crude futures were trading at $44.80 per barrel, which is 8 cents more when compared to their previous close. US West Texas Intermediate (WTI) crude oil stood at $43.16, which is only 3 cents higher per barrel. On Saturday, Brent crude has seen its lowest in the last couple of months, while WTI has witnessed the lowest for the past 3-4 months. After touching up to $50 per barrel in June, crude oil prices have ...
CII inks MoU with the Russian Chamber of Commerce and Industry
The Dollar Business Bureau In order to strengthen bilateral economic cooperation between India and Russia, the Confederation of Indian Industry (CII) signed an MoU with the Russian Chamber of Commerce and Industry. The industry body is also leading a CEO delegation to St. Petersburg International Economic Forum (SPIEF) which is being held in Russia. Commerce Minister Nirmala Sitharaman had an interaction with the delegation wherein they discussed the potential collaboration with their Russian counterparts. Some of the issues highlighted during the meeting included the possibility of Rupee-Rouble trade, financing for oil trade, barter trade in commodities etc. She said that efforts are being made by the Indian government to address these issues with the Russian government. “Russian Government was keen to ...
