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Oil prices firm on prospect of OPEC+ maintaining supply cuts, drop in U S inventories

Oil prices firm on prospect of OPEC+ maintaining supply cuts, drop in U S inventories
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Global oil prices rise by over $1 on slow US output restart; Brent reaches $65 30 per barrel

Global oil prices rise by over $1 on slow US output restart; Brent reaches $65.30 per barrel Brent crude was up $1.06, or 1.6%, at $65.30 a barrel by 0204 GMT, after earlier hitting a high of $66.38 Reuters | February 23, 2021 | Updated 10:45 IST The Wall Street bank expects Brent prices to reach $70 per barrel in the second quarter from the $60 it predicted previously and $75 in the third quarter from $65 earlier Oil prices jumped by more than $1 on Tuesday, as US output was slow to return after a deep freeze in Texas shut in crude production last week. Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.

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Fuel on fire! Petrol, diesel prices hiked for 10th day in a row; nears Rs 90 in Delhi

Story Fuel on fire! Petrol, diesel prices hiked for 10th day in a row; nears Rs 90 in Delhi The petrol price in Delhi has been hiked to a record Rs 89.88 per litre, while diesel rate climbed to Rs 80.27 a litre. In Mumbai, petrol and diesel prices have been increased to Rs 96.32 and Rs 87.32 per litre, again at record highs BusinessToday.In | February 18, 2021 | Updated 10:19 IST Petrol and diesel rates were increased by 32-34 paise per litre across metros, as per the price notification of state-owned oil marketing companies Petrol and diesel prices were revised for the tenth day in a row on Thursday, February 18, even as India has urged crude oil-producing countries to ease production cuts. The fuel rates were increased by 32-34 paise per litre across metros, as per the price notification of state-owned oil marketing companies. In Rajasthan s Ganganagar, the retail price of non-branded petrol has been revised to Rs 100.49 per litre, whereas in Nagarabandh, Madhya Pradesh, one

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Oil prices soar on heightened tensions in Middle East; Brent reaches $63 52 per barrel

Brent crude was up $1.09, or 1.8%, at $63.52 a barrel at 0428 GMT, after climbing to a session high of $63.76, the highest since January 22, 2020

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India is Asia s best post-Covid recovery story: Chris Wood

A steady fall in Covid cases coupled with a sharp economic recovery in India has made Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities. In December 2020, Wood raised exposure to Indian equities twice in his Asia ex-Japan long only portfolio. “With Covid cases in India now 88 per cent off their peak amid growing hopes of herd immunity, India looks right now Asia’s best post-Covid recovery story,” Wood wrote in his weekly note to investors, GREED & fear. For the stock market to have a real nasty unwind at the global level rather than just a bull market correction, Wood believes there needs to be a catalyst in the form of an economic downturn or a material tightening in US Federal Reserve s (US Fed) policy. He ruled out the possibility of either of these catalysts materialising.

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