Connect with us

Business

Oil prices climb after Saudi oilfield attack

Published

on

SINGAPORE- Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for any signs that Sino-U.S. trade tensions could ease. But price gains were capped to some degree by an unusually downbeat OPEC report that stoked concerns about growth in oil demand.
Brent crude was up 78 cents, or about 1.3%, at $59.42 a barrel at 0621 GMT, U.S. crude was up 64 cents, or 1.2%, at $55.51 a barrel.
“Oil is benefiting from an overall optimism that we won’t see the doomsday trade war scenario and after a drone attack on oil and gas facilities in Saudi Arabia reminded markets geopolitical tensions in the Middle East are going nowhere anytime soon,” said Edward Moya, senior market analyst at OANDA in New York.
A drone attack by Yemen’s Houthi group on an oilfield in eastern Saudi Arabia on Saturday caused a fire at a gas plant, adding to Middle East tensions, but state-run Saudi Aramco said oil production was not affected.
Meanwhile, White House economic adviser Larry Kudlow said trade deputies from the United States and China would speak within 10 days and could advance negotiations over ending a trade battle between the two countries if those talks pan out.
But U.S. President Donald Trump appeared less optimistic than his aides on striking a trade deal with China, saying that while he believed Beijing was ready to come to an agreement, “I’m not ready to make a deal yet”.
Concerns about an economic recession continued to weigh on crude prices even as Trump and top White House officials dismissed concerns that U.S. economic growth may be faltering.
Elsewhere, the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for global oil demand growth in 2019 by 40,000 barrels per day (bpd) to 1.10 million bpd and indicated the market would be in slight surplus in 2020.

 

Continue Reading

Business

Amazon Great Indian Festival sale starts from september 29th

Published

on

By

India’s favourite e-commerce portal, Amazon India, has just announced the biggest retail event of the year Amazon Great Indian Sale. The dates of this 6-day shopping extravaganza have been announced. The sale will go live on 29th September 2019 and end on 4th October 2019. Prime members will get a 12-hour early access to the sale. For them, Amazon Great Indian Festival Sale 2019 will commence on 28th September at 12 PM. Amazon has unveiled a few of the best offers that will be up for grabs. During the course of this five-day shopping extravaganza, Amazon India will provide jaw-dropping Amazon Great Indian Sale offers, deals, and discounts on purchases made from Amazon India’s e-commerce platform.

The company is offering a plethora of discounts such as up to 40% off on “latest and best smartphones of 2019” which include 15 new smartphones and accessories; up to 90% off on fashion with over 1200 top brands; up to 80% off on more than 50,000 home and kitchen products; and up to 75% off on home appliances.

In addition to discounts, Amazon will also be offering festive cashback offers on Amazon Fashion, combo offers on books, gaming and toys and the opportunity to save more using Amazon coupons on daily essentials. Kitchen and home products will be listed at the “lowest ever prices” with free installation. Moreover, more than 11,000 products by Amazon brands will be listed on sale.

Continue Reading

Trending