Oil prices on Friday hovered close to 2019 peaks reached the previous day, propped up by supply cuts led by producer club OPEC and by US sanctions against Iran and Venezuela.
Oil edged lower on Thursday but held near 2019 highs, supported by a sharp tightening of global stocks, OPEC production cuts and U.S. sanctions on key producers Iran and Venezuela.
Motilal Oswal initiated coverage on Torrent Power with a rating of “Buy” after considering it as the best play in the private power sector with strong industry positioning and a healthy balance sheet. The brokerage has a price target of Rs 315 per share, according to a March 19 note.
After rising for a day, petrol prices remained stable on Wednesday, while diesel prices were unchanged across major cities. Petrol price in Mumbai stood at Rs 78.40 a litre while diesel was at Rs 69.97 per litre, at par with December 2018 levels.
Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry said on Tuesday, citing Venezuela’s oil minister.
Oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC. US sanctions against oil producers Iran and Venezuela are also boosting crude prices
Oil prices edged up on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs and signs of inventory declines at the delivery point for US crude futures.
The adverse impact from coal-fired power plants on public health is the highest in India globally, found a recent study. And while campaigns continue to highlight the ills of coal mines and thermal power plants, the Indian government is giving a boost to the coal sector.
Petrol and diesel prices remained stable on Monday across major cities after fluctuating for six days. While petrol rates were on the rise for the last one week, diesel prices saw a downward trend.
Oil prices dipped early on Monday, weighed down by concerns that a global economic downturn may dent fuel consumption.