The West Asian cauldron is cooking a bloody potion, which when served has the potential to numb the economic nerves of most nations, including India. There is heightened tension over the recent attack on two Saudi Arabian oil tankers off the coast of the United Arab Emirates
Oil edged higher towards $73 a barrel on May 17, supported by real and threatened supply disruptions in the Middle East and heading for a weekly gain. US sanctions on Iran have cut the OPEC member’s crude exports further in May
The tensions between Iran and the United States are escalating by the day. Iran President Hassan Rouhani has said the country is facing “unprecedented pressure” from international sanctions, calling it a “war unprecedented in the history of Islamic revolution”.
There are only a handful of engineering aspirants who manage to fulfill their parents dreams of graduating from an Indian Institute of Technology, and possibly complete a masters degree to land a cushy job in the West.
Railways has instructed its zones to expedite the process of handing over retiring rooms and dormitories at railway stations to IRCTC, which have been pending for over two years, so that they can not only be developed and upgraded but also facilitate online booking.
The world will require very little extra oil from OPEC this year as booming US output will offset falling exports from Iran and Venezuela, the International Energy Agency said on May 15.
Crude oil prices on Thursday fell by another 0.67 percent to Rs 4,305 per barrel as speculators indulged in reducing holdings amid a weakening trend overseas.
Coal India will supply 530 million tonne of coal to the power sector in 2019-20, a 8.6 per cent rise over the previous year. Though the annual production for the current fiscal have not been finalised yet, it is likely to be around 650 million tonne, sources told PTI.
Oil & gas stocks are trading mixed with Nifty Energy down over half a percent largely dragged by Reliance Industries which shed 1 percent.
The increase in crude oil prices was expected in case the US decided not to extend the timeline for sanctions against Iran. Hence, the decision to withdraw the waiver post May 2 was not a surprise.