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  Oil price plunges below zero as demand collapses; Asian shares skid

  Business | April 21, 2020 9:38 IST

  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.

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  Amid escalating tensions between US and Iran, prices of gold, silver and oil surge

  Business | January 03, 2020 19:07 IST

  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.

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  Petrol, diesel prices remain unchanged for 2nd day

  Business | November 21, 2019 11:01 IST

  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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  Saudi Arabia warns of 'unimaginably high' oil prices

  World | September 30, 2019 11:03 IST

  Mohammed bin Salman said a war between Saudi Arabia and Iran would ruin the global economy, following an attack on its oil facilities two weeks ago which it blames on Tehran.

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  India expresses concern over rising oil prices following developments in Strait of Hormuz

  India | June 21, 2019 21:22 IST

  Brent oil Thursday jumped about 5 per cent, the most since January, and is now trading near USD 65 a barrel. This comes after tensions ran high in the region after US President Donald Trump approved and then later called off military strikes against Tehran following shooting down of an American Navy drone over the strait by Iranian forces.

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  Tensions in Persian Gulf, rise in oil prices dent equities

  Business | June 14, 2019 20:05 IST

  According to Geojit Financial Services Head of Research, Vinod Nair said: "Ripple effect from a weak global market while premium valuation and slow economy is hurting the market."  

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  Oil prices jump nearly 4% over attack on oil tankers

  Business | June 13, 2019 18:33 IST

  The benchmark Brent Crude on Thursday logged a steep jump of nearly 4 per cent over reports of attack on oil tankers in the Gulf of Oman.

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  No going back on fuel price deregulation: Oil Minister Dharmendra Pradhan

  India | October 08, 2018 16:47 IST

    Pradhan said he had spoken to Saudi Oil Minister Khalid A Al-Falih and "reminded him of the June commitment of Opec to increase production by 1 million barrels per day" to help cool prices.

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  Big relief for commuters! Petrol, diesel prices fall nearly after 10 days across four metro cities

  Business | July 16, 2018 16:25 IST

  In the national capital, petrol was priced at Rs 76.84 on Monday, 11 paise down from the previous price of Rs 76.95 a litre.

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  Petrol prices hiked to Rs 75.61/litre in New Delhi, just one per cent short of all time high

  Business | May 18, 2018 10:55 IST

  The petrol price in New Delhi stood at Rs 75.61 per litre, whereas in Mumbai, Kolkata and Chennai, the prices stod at Rs 83.45 per litre, Rs 78.01 per lire and Rs 78.16 per litre respectively.

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  US exit from Iran N-deal: Why Trump opted out? Who'll it hurt? What next for Iran? Here's all you need to know

  World | May 09, 2018 14:42 IST

  United States President Donald Trump's decision to pull out of 'defective' Iran Nuclear Deal has left the world polarised as major European powers expressed regret and concern while Gulf Arab nations were jubilant. Here's everything you should know about the development and reactions on it from across the world.

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  India Union Budget 2018: Road, infrastructure cess on fuel proposed

  Budget | February 01, 2018 19:41 IST

  The basic excise duty on unbranded petrol was slashed by Rs 2 from Rs 6.48 per litre and on branded petrol from Rs 7.66 per litre.

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  Nifty hits one-week low, ends below 10,400 on spurt in oil prices

  Business | November 07, 2017 19:38 IST

  NSE benchmark Nifty shed 102 points on Tuesday to end at a one-week low of 10,350 on widespread profit booking amid fears of rising inflation due to a spurt in oil prices.

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  PM Modi brainstorms with top global, Indian oil chiefs to revive investment, production

  Business | October 09, 2017 15:29 IST

  The main theme of the meeting, sources said, was to seek investment in exploration and production, processing, transportation and distribution network in oil and gas

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  Oil prices rise following diplomatic strain between Qatar and Arab nations

  June 05, 2017 14:12 IST

  Markets reacted to the escalation of the diplomatic row in the Gulf region and sent the price of oil 1.04 per cent higher to $50.47 per barrel, Xinhua news agency reported

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  Amid global price slump, India saw 50 per cent drop in crude oil import bill in 2015-16

  April 21, 2016 14:56 IST

  Global slump in oil prices has resulted in India’s crude oil import bill dipping to almost half to $64 billion in 2015-16 fiscal.

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  US stocks incur huge losses amid falling oil

  World | February 24, 2016 11:01 IST

  New York: US stocks suffered big losses as Wall Street digested mixed economic reports amid declining oil prices.The Dow Jones Industrial Average dipped 188.88 points, or 1.14 percent, to 16,431.78 on Tuesday, Xinhua news agency

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  Stocks hits lowest level as oil tumbles, S&P lowest since 2014

  January 21, 2016 7:17 IST

  NEW YORK: U.S. stocks slumped Wednesday as the price of oil suffered its worst one-day drop since September, and the Standard & Poor's 500 index fell to its lowest level in almost two years.Investors are

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  Oil prices near seven-year low as OPEC refuses to cut down production

  December 08, 2015 11:19 IST

  New York: As OPEC, the international organization of oil exporting countries, refused to cut down production, the prices of oil dropped sharply bringing it down to the lowest level since February 2009.The sharp drop in

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  Oil prices jump amid geopolitical worries

  World | November 25, 2015 7:53 IST

  New York: Oil prices soared on Tuesday after Turkey shot down a Russian warplane in Syria for alleged airspace violation.Turkey on Tuesday shot down a fighter jet claimed by Russia, signifying the tension in the