Tag: Oil prices

Sensex, Nifty fall 1% as crude oil prices surge

The S&P BSE Sensex fell 345.56 points or 0.98 per cent to 34,812.99 points. It had opened at 35,287.49 from its previous close of 35,158.55.

November 12, 2018

Credit negative

That the Finance minister’s tweet after having briefed a press conference on his dubious plan to reduce oil prices by Rs 2.50 a litre should have been met by derision was only to be expected given that he had very recently argued that oil prices were not under his control. His sense of smugness over …

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October 15, 2018

Northern states discuss VAT cut for cheaper fuel

The Opposition parties have been blaming the BJP governments for the sky rocketing prices of petrol and diesel by increasing the Central excise duty 11 times on petrol.

September 26, 2018

Rupee at risk

Amidst several parameters going askew for the Indian economy, two ~ its current account deficit and its sliding rupee ~ are attracting the greatest outcry, more so because of the shrill assault that the present Prime Minister had launched against his predecessor during the 2013 slide of the rupee. At 72.23 to the dollar, the …

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September 24, 2018

Petrol prices may come down in Punjab, Karnataka: Congress

Petrol and diesel may soon become cheaper in Punjab and Karnataka, the All India Congress Committee (AICC) in-charge for Himachal Pradesh Rajni Patil said in Shimla on Sunday.

September 9, 2018

Revolution that failed

“Revolutions are the locomotives of history”, said Marx. For Venezuela, that locomotive has now stopped moving altogether. Characterized by extreme inequality, impoverished living conditions, endemic corruption and political disenfranchisement, it has been close to a failed state for quite some time. Now with inflation about to touch a million per cent according to IMF estimates …

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September 7, 2018

Oil prices lift equity indices; Nifty regains 11k-mark

According to Geojit Financial Services' Head of Research Vinod Nair: "Market regained 11,000 mark, given the strong earnings and benign yield despite rise in inflation."

July 17, 2018

‘Capacity to manage oil shock better’

Economic Affairs Secretary Subhash Chandra Garg has 34 years of experience in administration, management and public policy, finance and several development sectors. A 1983 batch Indian Administrative Service officer of the Rajasthan cadre, Garg holds degrees in commerce and law from the University of Rajasthan, Jaipur, and is a professionally qualified Cost and Works Accountant …

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June 2, 2018

Karnataka politics, oil prices plunge markets

The political stand-off in Karnataka, along with the persistent rise in global crude oil prices and a large outflow of foreign funds, pulled the key Indian equity indices deep into the red in the week just-ended. Even a weak rupee and higher-than-expected inflation scenario eroded investor sentiments. On a weekly basis, the barometer 30-scrip Sensitive …

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May 20, 2018

Volatility snuffs markets’ rally

Despite positive global indicators such as overnight rise in Wall Street indices and 0.6 percent gain in Morgan Stanley Composite Index of MSCI for Asia-Pacific (outside Japan), trade in Dalal Street on Thursday was spoiled by mid-session volatility which wiped out early morning gains in the 30-scrip Sensitive Index of Bombay Stock Exchange and 50-stock …

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May 11, 2018

Oil prices rally amid US crude inventory data

Oil prices settled slightly higher on Wednesday even though official data showed a surprise increase in the US crude stockpiles. US crude oil inventories rose by 2.2 million barrels to 429.7 million last week, the Energy Information Administration (EIA) said in its weekly report on Wednesday. Analysts had expected a 1.1-million-barrel gain. Gasoline stockpiles grew …

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April 26, 2018

Prices of energy commodities set to rise by 20% this year: World Bank

Prices for energy commodities like oil, natural gas and coal are expected to jump by a whopping 20 per cent this year, the World Bank has said in a report. The increase in energy prices is expected to have adverse impact on India, given that the country is heavily dependent on import of major energy …

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April 25, 2018

Eye on poll, Centre caps oil prices

Since a steep hike in petrol and diesel prices could have an adverse fallout for the BJP ahead of elections, the Centre has asked oil marketing companies to ensure that the retail price of petrol does not exceed Rs 75 a litre in the national capital and in other states as well, according to sources. …

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April 17, 2018

India renews call for reasonable oil prices

India on Thursday reiterated its call for reasonable global oil pricing and invited investment in its hydrocarbons sector in line with the country’s drive to attaining energy security. Noting that as the third largest energy consuming country India imports most of its oil and gas needs, Petroleum Minister Dharmendra Pradhan made the call for “responsible …

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April 12, 2018

Economic Survey 2017-18: 7.5 pc growth predicted with caution on high oil prices

After touching a low of 5.7 per cent GDP growth, India’s economy is “picking up quite nicely” , the annual Economic Survey 2017-18 tabled in Parliament on Monday said. It predicted that India would clock a growth of 6.75 per cent this fiscal and will rise to 7 to 7.5 per cent in 2018-19, which would be …

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January 30, 2018

Oil prices rise as crude output cut extended

Oil prices rebounded as the OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC oil producers agreed to extend the production cut till the end of 2018. The West Texas Intermediate for January delivery on Thursday increased $0.10 to settle at $57.40 dollars a barrel on the New York Mercantile Exchange, while Brent crude for …

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December 1, 2017

Oil prices rise ahead of OPEC meeting

Oil prices climbed on Tuesday as investors were awaiting the closely-watched OPEC (Organisation of the Petroleum Exporting Countries) meeting next week, a media report said. OPEC and other key oil producers will meet on November 30 to discuss whether to extend the current price-supporting curbs on crude output, Xinhua news agency reported. In a bid …

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November 22, 2017