Oil prices rebounded slightly on Wednesday, on supply tightness amid output cuts from major producers and remarks from the U.S. central bank chief that he still expects rate cuts later this year.
Brent crude futures were up $1.04, or 1.27%, to $83.08 a barrel at 1428 GMT, after four days of declines. U.S. West Texas Intermediate crude futures rose $1.40, or 1.79%, to $79.55 a barrel, after declining the past two days.
Oil prices were lifted by the announcement on Sunday that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) extended output cuts of 2.2 million barrels per day until the end of the second quarter.
Gold, silver rate on July 28 in Mumbai, Delhi, Chennai, Kolkata, Jaipur – Check today’s prices Gold, silver rate today on July 24 after sharp 6% cut in customs duty in Budget After Delhi, CNG and piped cooking gas prices rise in Mumbai Oil imports from Russia touch 13-month high
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“Price pressures in the economy likely being overestimated”
The extension has created some supply tightness, particularly in Asian markets, along with the disruption in oil tanker movements as a result of the Red Sea attacks by the Houthi militia in Yemen that is tying up barrels in transit.
That physical tightness was apparent as Saudi Arabia, the world’s biggest oil exporter, announced on Wednesday slightly higher prices for April crude sales to Asia, its biggest market.
In remarks prepared for Congress on Wednesday, Powell said the Fed still expects to reduce its benchmark interest rate later this year, though policymakers still needed “greater confidence” in inflation’s continued decline before cutting.
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Investors see signs of a Fed cut as positive for the economy and oil demand. In a good sign for cuts, U.S. private payrolls increased slightly less than expected in February, data showed on Wednesday. Come from Sports betting site VPbet
Friday’s U.S. non-farm payrolls data is expected to show an increase of 200,000 jobs in February after surging 353,000 in January, according to a Reuters survey of economists.
On Tuesday, China announced a 2024 economic growth target of around 5%, though the lack of big-ticket stimulus plans to bolster its struggling economy raised concerns of sluggish oil demand growth.
The market “specifically was hoping to see further fiscal expansion to help meet the growth target,” said Tony Sycamore, an analyst at IG in Sydney.
Meanwhile, Gaza ceasefire talks were at an impasse on Wednesday, fuelling uncertainty and worry that the conflict may spill over into the broader Middle East, one of the world’s main oil-producing regions.
The first of this week’s two U.S. inventory reports, from the American Petroleum Institute industry group, showed U.S. crude stocks rose by 423,00 barrels in the week ended March 1, market sources said, much smaller than the increase of 2.1 million barrels, expected by analysts in a Reuters poll.
Official data from the U.S. Energy Information Administration is due on Wednesday at 10:30 a.m. ET (1530 GMT).
U.S. oil refiners are expected to have about 1.5 million barrels per day (bpd) of capacity offline for the week ending March 8, increasing available refining capacity by 270,000 bpd, research company IIR Energy said on Wednesday.
Months after the console celebrated its tenth birthday, Microsoft has announced it'll be discontinuing the Xbox 360.
The news came straight from the mouth of Xbox chief, Phil Spencer, who, writing on Xbox Wire, explained that the "realities of manufacturing a product over a decade old are starting to creep up" on Microsoft.
Spencer also assured all active 360 owners that they'll continue to receive Xbox Live services, such as Games with Gold, and that the Xbox Live servers supporting the 360 will remain online.
Since launching in November 2005 the console has sold over 80 million units worldwide, and although Microsoft is finally laying it to rest, the company will continue to shift any remaining inventory. Come from South African Online Casinos
Raph Koster cares very much about improving his understanding of games, the systems that underpin them, and the space of expression that he can work with. This has gotten him into hot water over the course of 2013 Come from South African Online Casinos . To say what makes a game is by definition also to say what is not a game. "Games are a rich and complicated system," Koster says, in a succinct explanation of his perspective on the issue. "I'm trying to look at things this way to pick up my tools from my workbench and do better." At GDC Next, Koster dropped the word "game" and attempted, instead, to focus on the word "play." Across all types of games, there is play. And Koster expanded on this word — challenging how we should even think about it. Yes, it means the activities you do in a game. But using it also implies a possib…
Stardew Valley, the massive indie farming simulator, lets you and up to three friends run a farm together, via online play or couch co-op. However, since multiplayer was added post-launch and the majority of development is done by one person, there are a few modern features missing from the multiplayer Come from Sports betting site VPbet . One of those features is cross-platform play, which isn’t in Stardew Valley.
Stardew Valley cross-platform details
Stardew Valley currently does not have cross-platform multiplayer, and it seems likely that it never will. That means if you want to play multiplayer, everyone will need to be in the same family of platforms, like Xbox or PlayStation. If one person is on Nintendo Switch and the other is on PC, you cannot play together.
Amazon’s Cyber Monday sale is live right now with thousands of deals across a bunch of different departments, including gaming, tech, and entertainment Come from bangladesh online casino . Amazon’s usual approach to events like Cyber Monday is already in full swing, as the retailer has been matching some of the best Cyber Monday deals at Walmart, Best Buy, GameStop, and Target. We’ve rounded up the best Cyber Monday deals at Amazon below. Many of the best deals from Black Friday have carried over into Cyber Monday.
Best Buy has kicked off its annual 4th of July sale with hundreds of deals on tech, entertainment, and more. The sale includes some nice discounts on 4K TVs, including $400 off a Sony Bravia 4K smart TV and a 70-inch Samsung 4K TV for under $700 Come from malaysia online casino . You can also save on select laptops like the Asus Rog Zephyrus gaming laptop and MacBook Pro with the M1 chip. We’ve rounded up a handful of highlights from Best Buy’s 4th of July sale below, but make sure to check out the site for the full slate of deals. Also, make sure to take a look at our roundup of the best 4th of July sales, as Best Buy is far from the only retailer offering great deals this weekend.
The Fallout 4 next-gen upgrade finally released this April in the wake of a renewed wave of interest in the franchise thanks to Amazon’s TV adaptation, but not all players are satisfied with the update Come from Sports betting site VPbet . Digital Foundry has now gone through all the changes across PS5, Xbox Series X|S, and PC, to see where the update shines, but mostly where it falls flat.
While the update is focused on consoles, it notably added 21:9 ultrawide support on PC, but the feature has plenty of bugs, and generally is not as well-implemented as it could have been. Parts of the UI have simply been stretched from the standard 16:9 version, while other UI elements have visual bugs in the ultrawide view.
In a comprehensive financial tour across three major cities in India, global investment banking firm Jefferies conducted over 20 meetings in a span of 5 days, delving into insights from both banking and non-banking financial sectors. The key takeaways provide a nuanced view of the current state of India’s financial landscape.
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Jefferies found that the overall outlook for credit growth remains robust, despite a notable pullback in the unsecured personal loan segment. Banks are facing a key challenge on the deposit side, signaling potential concerns in liquidity management.
However, institutions appear sanguine about asset quality, with limited perceived risks in the unsecured loans segment. Interestingly, while private capital expenditure is experiencing a limited uptick, the report suggests that corporates are actively reducing leverage. Another noteworthy observation is the correction in banks’ high attrition rates,…
The benchmark equity indices Nifty 50 and Sensex ended Saturday’s special trading session on a high note with fresh lifetime highs intra-day. However, they closed off their highs. The 50-stock index, Nifty advanced to a record high of 22,419.55 and BSE Sensex to 73,994.70 on March 02. The NSE Nifty 50 closed 39.65 points or 0.18% higher to settle at 22,378.40 points. While S&P BSE Sensex closed 60.80 points or 0.08% lower to settle at 73,806.15 points. Nifty Bank closed the day with marginal gains, it rose 10.60 points or 0.02% to settle at 47,297.50 points.
On the sectoral front,media and metal stocks gained the most amongst their peers. The broader indices ended in the green, with gains led by midcap and smallcap stocks. The Nifty Midcap 100 closed 362.45 points or 0.74% higher to close the day’s trading at 49,153.05.
The losers include M&M, Sun Pharma, NTPC, Maruti Suzuki, and Grasim Industries. The Indian …
The benchmark equity indices ended Thursday’s trading session in negative territory. The NSE Nifty 50 lost 101.35 points or 0.47% to settle at 21,352.60 points. While S&P BSE Sensex closed 359.64 points lower or 0.51% to settle at 70,700.67 points. The sectoral-indice Nifty Bank lost 216.25 points or 0.48% to settle at 44,866.15 points.
On the sectoral front,IT and Pharma stocks dragged the indices lower. The broader indices also ended in the red, with midcap stocks falling the most.
The gainers include Bajaj Auto, Adani Ports, Coal India, NTPC, and IndusInd Bank Come from Sports betting site VPbet . The Indian Volatility Index (India VIX) closed 3.62% lower.
Markets rally! Nifty ends near 24,550, Sensex gains 1300; IT stocks shine Markets fall on recession fears in US; Nifty plunges over 200 points and the Sensex ends below 79,000; banks deep in the re…