A day's delay in reaching the destination costs a charter price that ranges from tens of thousands of dollars for a small vessel to hundreds of thousands for a larger one. If these men give up, their companies lose money and goods get stuck. In the end, it is the consumer—you and me—who pays more to make up for the supply gap. … [Read more...] about Exclusive | Lost at sea: Thousands of shipping crew stranded as countries tighten borders
Iranian oil tanker sanchi
In October 2018, the World Economic Outlook thought that crude oil prices would decline by 0.2% in 2018. Come January 2018, however, it realised prices were headed higher and hastily revised its forecast for 2018, this time saying it would rise by 11.7%. In April, it revised it upwards to 18%. By July, with a relentless rise in crude, it panicked and jacked up its oil price growth estimate to 33%. By October last year, it lowered its estimate to 31.4%. And in January 2019, its latest WEO update says crude oil price growth in 2018 was 29.9%. … [Read more...] about Quick Take | Can the IMF predict oil prices?
"The import of RBD palmolein should be allowed, at least for actual users, so that the country is fully prepared to supply sufficient edible oil in any worst-case scenario during the COVID-19. Failing this, we will face severe edible oil shortage in the market,” Rao told the paper.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now! … [Read more...] about Mangaluru CII requests Centre to allow import of RBD palmolein oil: Report
In the futures market, crude oil for April delivery touched an intraday high of Rs 1,905 and a low of Rs 1,746 per barrel on the MCX. So far in the current series, the black gold has touched a low of Rs 1,717 and a high of Rs 4,186. … [Read more...] about Crude oil futures fall nearly 9% in afternoon trade
He also repeated his expectation that U.S. unemployment will leap to the low or mid teens, for 3.5 percent in February, and that though it should drop to around 8 percent by year's end, a weakened consumer and small business sector mean it could be a challenge to bring the figure lower, quickly. … [Read more...] about Fed’s Kaplan says oil output cut helps, joblessness will be ‘challenge’: Report