Rising oil prices add to global economic strife

Rising oil prices add to global economic strife

Escalating tension in the Middle East is driving up oil prices, a huge import cost for many economies, putting more strain on global growth already hurt by the trade war being waged by U.S. President Donald Trump and weakening consumer confidence.

Crude oil futures fall on weak global cues

Crude oil futures fall on weak global cues

Crude oil prices fell 2.47 per cent to Rs 3,628 per barrel Wednesday as participants reduced holdings amid a weak trend overseas. On the Multi Commodity Exchange, crude for June delivery fell by Rs 92, or 2.47 per cent, to Rs 3,628 per barrel in a business volume of 23,610 lots.

Iran says neighbours exaggerating oil capacity

Iran says neighbours exaggerating oil capacity

Iranian Oil Minister Bijan Namdar Zanganeh on Wednesday claimed two neighbouring countries were “exaggerating” their production capacity to reassure markets after the US ended sanction waivers for buyers of Iranian crude. Zanganeh also said Washington’s stated aim to bring Iran’s oil exports

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