BP workers near an oil pipeline at the Prudhoe Bay oil field in Alaska. Associated Press
Oil prices rose on Thursday on optimism about U.S and European economic recoveries and expectations OPEC and its allies will keep production curbs in place.
Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in US crude inventories.
Brent crude rose 32 cents, or 0.5%, to $64.46 a barrel at 05:25 GMT while US West Texas Intermediate (WTI) crude futures climbed 26 cents, or 0.4%, to $60.81 a barrel.
India’s Finance Minister Nirmala Sitharaman on Saturday announced a reduction of taxes on petrol and diesel to fight inflation and keep prices of essential items in check.
DP World, the leading provider of smart logistics solutions, showcased its streamlined chemical supply chain solutions and extensive range of logistics offerings at the 13th edition
India has warned against “hoarding and speculation” running up prices of foodgrains to “unjustifiable” levels and urged for ensuring “equity” and “affordability” in the availability of food to all.