The government has reduced the cost of non-subsidised LPG cylinder by Rs 162.50 per cylinder in metro cities including Delhi, Mumbai, Kolkata and Chennai. The prices have been reduced in line with the slump in benchmark international rates.
Stocks around the world are clawing higher on Wednesday, and the S&P 500 climbed toward the first gain in what’s been a dismal week for markets.
Equity benchmark indices plunged by over 3 per cent on Tuesday after US oil prices slipped below zero dollar a barrel in overnight trade and President Donald Trump announcement that he will sign an executive order to temporarily suspend immigration.
Traders are still paying more than $20 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the “true” price of oil. Crude to be delivered next month, meanwhile, is running up against a stark problem: traders are running out of places to keep it, as factories, automobiles and airplanes sit idled around the world.
Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don’t want to get stuck owning crude with nowhere to store it.
Oil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don’t want to get stuck owning crude with nowhere to store it.
The Reserve Bank will sell USD 2 billion worth of American currency to banks in a bid to infuse liquidity in the domestic forex market roiled by mounting concerns over coronavirus pandemic and crash in global oil prices.
Equity benchmark indices came under the bearish grip during the afternoon on Monday as risk sentiment worsened in global stocks due to spreading coronavirus (COVID-19) and a sharp plunge in oil prices.
Petrol prices slipped below Rs 71-mark for the first time in eight months on Monday as India looks set to reap windfall from a price war among oil producers leading to international crude prices crashing by their biggest margin since the 1991 Gulf war.
Indian stock market has seen its worst fall ever on Monday. Market benchmark Sensex plummeted over 1,941 points on Monday, wiping off investor wealth worth around 7 lakh crore, following global market meltdown triggered by rapidly-spreading coronavirus and free fall in oil prices. After sinking over 2,467 points during the day, the 30-share index settled 1,941.67 points or 5.17 per cent lower at 35,634.95.
Equity benchmark indices dropped sharply during early hours on Monday in line with Asian peers as risk sentiment worsened due to the unabated spread of coronavirus (Covid-19) and a plunge in oil prices.
Fuel prices dropped further after international crude oil went into a free fall due major slump in demand following the global outbreak of coronavirus epidemic. The price of petrol was cut by 24-27 paise a litre and that of diesel by 25-26 a litre across all major cities in the country on Monday.
According to the retail price available on the website of the Union Ministry of Consumer Affairs, the price of mustard oil in Delhi has increased by Rs 12 per kg in the last one month. The price of mustard oil was Rs 124 per kg on December 10, 2019, in Delhi, which rose to Rs 136 per kg on January 10, 2020.
Equity benchmark indices recovered from intraday lows but ended with marginal losses on Wednesday as investors feared a wider conflict in the Middle East after Iran fired missiles at US forces in Iraq overnight.
A major escalation in tensions between the US and Iran - the two biggest oil producing nations - following a US airstrike killing one of Iran's most powerful military commanders, General Qasem Soleimani, has sent global financial markets into a tailspin. While the stock markets have taken a beating, gold, silver and oil prices have jumped sharply.
The global benchmark, Brent, was trading 3.20 per cent higher at $68.37 a barrel during the early hours on Friday. The Brent had surged as much as 4.4 per cent earlier while the WTI also gained over 4 per cent to 63.84.
Asian stocks were mixed Friday and oil prices surged after an Iranian general was killed by U.S. forces in Iraq. Benchmarks in Shanghai and Hong Kong declined. Australia and some Southeast Asian markets advanced.
Oil prices are set to stay relatively low during 2020 as the supply from the non-OPEC countries will remain plentiful and global demand weak, global airlines body IATA said on Wednesday.
Oil prices went up, as investors continued observing the escalating geopolitical frictions between Yemen's Houthi rebels and the Saudi-led coalition in the Middle East. The West Texas Intermediate for January delivery increased 1.57 US dollars to settle at 58.58 dollars a barrel on the New York Mercantile Exchange, Xinhua news agency reported.
As per the Indian oil website, the petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs 74.20/litre, Rs 76.89/litre, Rs 79.86/litre and Rs 77.13/litre respectively. The diesel prices were Rs 65.84/litre, Rs 68.25/litre, 69.06/litre and 69.59/litre respectively.
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