The US stocks close higher on Wednesday as Wall Street braces itself for the Thanksgiving holiday break as fresh economic reports get released. Weekly jobless claims saw the fall of ~24,000 in comparison to ~209,000. Apart from this, the reading of University of Michigan consumer sentiment survey exhibited that year-ahead expectations for inflation increased to
It is expected that ONGC Oil and Natural Gas Corp. will begin producing oil from its much-delayed deep-sea water project in the Krishna Godavari basin in the Bay of Bengal this month, reversing years of decline in output. ONGC Director (Production) Pankaj Kumar said this month that Cluster-2 will start producing in KG-DWN-98/2 block this
In bear market of 2022, oil stocks took the limelight with their success stories. Even though higher inflation adversely impacted consumer spending and business sentiment, it positively impacted prices of crude oil. Therefore, investors were able to book some gains from top crude oil companies. Apart from this, Russia’s invasion of Ukraine stemmed the performance
Safe-haven buying fueled gold prices to an 11-week high on Wednesday, as the front-month Comex futures price approached $2,000 an ounce. At 7 am Sydney time, the front-month contract surged by over $26 or over 1.3%, to just over $1,963. Despite higher bond yields and a strengthening greenback, Comex gold prices have climbed 4% over
Experts believe that Indian ethanol market should grow from US$2.50 billion in 2018 to US$7.38 billion by 2024. This means that this industry should be able to compound at ~14.50% between 2019-2024 as a result of higher ethanol use in applications including fuel additives and beverages. Ethanol is prominent alcoholic beverage, which is principally found
On Tuesday 25th July 2023, crude oil prices were able to stabilize near three-month highs. Much of this stabilization was because traders were waiting for the US Federal Reserve meeting after there have been signs regarding the tighter supplies and assurance by Chinese authorities to shore up their economy. Crude benchmarks have seen 4 consecutive
As you grow older, you learn that several responsibilities come with being an adult. Of course, you have the typical things like paying bills, buying groceries, and generally making ends meet. When you think of adulthood, that’s usually what comes to mind right away. However, aside from all those things, there are also some aspects
Arun Kumar Singh, chairman of India’s top oil and gas producer ONGC, said on Monday that the company plans to invest 1 lakh crore in energy transition projects by 2030 as part of its goal of reducing carbon emissions to zero by 2038. As part of the nation’s commitment to fight climate change, Indian Oil
Oil and Natural Gas Corporation (ONGC) has canceled bids received for its Daman upside gas development project off the western coast after receiving high price quotes, sources said. The project is crucial to ONGC’s strategy of ramping up gas production from its shallow-water fields off India’s west coast. With the completion of the project, 4.5
Despite not involving China, the Chinese yuan is gaining traction in cross-border payments. Pakistan has become the latest country to indicate that it will use the Chinese currency Yuan paying for Russian oil across borders. Pakistan is considering a new payment method for its first Russian crude oil order for 750,000 barrels that will arrive
