The Indian rupee on Thursday slumped 22ps to 70.08 against the USD in early trade on the back of rising global crude prices. However, new dollar demand from bankers and importers reportedly weighed on domestic currency. The rupee on Wednesday Read more
Crude Oil prices on Thursday fell from four-year highs that hit the previous session, on account of rising U.S inventories after reports that Saudi Arabia struck a private deal in Sept. to lift crude output. Brent crude oil futures were Read more
As per Reuters document review, India govt has allowed state refiners to buy 35% of crude oil imports in tankers arranged by the seller, enabling them to speedily tap cheaper cargoes. The action will help refiners in Iran’s second-biggest oil market to increase purchases from alternative sources.