A number of worries caused crude oil to suffer a severe setback, falling 3.58% to 62.74 per barrel. Due to weaker-than-expected Chinese exports in October and a U.S. government report projecting a 20-year low in U.S. petrol demand per capita next year, the demand picture was concerning. This suggested that demand may be declining globally….
With Middle East tensions easing supply concerns and expectations that the U.S. Federal Reserve would continue raising interest rates in the largest oil-consuming country in the world buoyed by jobs statistics, oil prices dipped on Friday, on track for a weeklong loss. Futures for Brent crude dropped $1.21, or 1.4%, to $85.64 per barrel, while…
According to statistics issued by the government on Tuesday, the growth of India’s eight key sectors fell to a four-month low of 8.1% in September from a 14-month peak of 12.5% in August. This was mainly because of a dramatic fall in the increase in the production of power, crude oil, and refinery products. September…
Crude oil prices fell -3.48% to $68.80 per barrel as Middle East worries momentarily subsided. Concerns were aroused as Israel increased its ground operations in Gaza, but for the time being they have receded. Investor attention is now focused on a packed week of central bank meetings and economic data. Important economic data from China…
Thursday’s sell-off in stocks marked the sixth straight session as investors made a beeline for the exit. Although crude oil prices have decreased and Brent was trading at less than $90 per barrel, investors withdrew their money due to concerns that the conflict in West Asia would last for a long time. Investor anxiety was…
As a result of a strong US dollar and unfavorable attitude in the equities market, the rupee fell for the third straight day, losing 6 paise to 83.23 against the US dollar in early trade on Thursday. Despite the fact that crude oil prices were hovering around USD 90 per barrel due to geopolitical tensions…
Based on robust internal fundamentals and low inflation forecasts, India’s major economy will continue to grow at the fastest rate in the world in the 2023–24 fiscal year, according to a report released by the finance ministry on Monday. The Monthly Economic Review’s September issue also noted that recent events in the Persian Gulf have…
Despite a number of events unfolding both domestically and globally over the past few weeks, the rupee has been trading in a limited range with little volatility. Due to a lack of domestic cues, active RBI intervention is keeping volatility in control, and it is anticipated that this will continue throughout the next several weeks…
As supply convoys began to arrive in the Gaza Strip over the weekend and diplomatic efforts were made to prevent a conflict between Israel and the Palestinian Islamist party Hamas from expanding to the larger oil-rich region, oil prices decreased on Monday. U.S. West Texas Intermediate crude futures declined 61 cents to trade at $87.47…
The Reserve Bank of India anticipates a little slowdown over the medium term in light of worries regarding the recent spike in global petroleum prices. According to the RBI’s monthly bulletin, the two largest consumers of crude oil, China’s slowing development and the U.S. anticipated drop in fuel consumption, will keep crude prices at $86…
