A healthy US jobs report for April helped oil to climb by about 4 per cent on Friday even though labour market strength could compel the Federal Reserve to keep interest rates higher for longer.
Oil prices rose 2% as U.S. recession fears eased. Brent crude and U.S. West Texas Intermediate gained, supported by a healthy jobs report. Find out more about the market conditions, demand, and supply outlook in OPEC's latest report.
Heightened worries about the strength of consumers and the global economy have been put on hold - at least for now - after some of the world's best known companies delivered a slew of better-than expected numbers.
Indian banks are relatively insulated from American ones, so developments in US finance won t affect India’s real economy unless regulators here lose their focus on financial stability, which isn’t likely