Asian benchmark refining margins for diesel, jet fuel are already languishing at more than 2-yr lows
Here is how SMC Global expects commodities to trade today.
"We hope to see a robust implementation of the auto scrappage policy. We hope the government continues its thrust on infrastructure to strengthen and propel us forward on the path to higher growth once more," Gulf Oil MD said. In 2019, the auto industry recorded its worst-ever sales decline in two decades, with an unprecedented slowdown hampering vehicle offtake.
NTPC will carry out various activities for selection of the Solar Project Developers (SPDs) on competitive basis for setting up projects on an ownership basis and enter into Power Purchase Agreements (PPAs) with designated government entities.
US West Texas Intermediate was down 32 cents at $52.82 a barrel.
Vandana Hari, Founder & CEO, Vanda Insights, says one should keep a very close eye on whether we see a plateauing of the infections and casualties from Coronavirus spread as that might be a turning point for the oil markets.
The Solvent Extractors Association of India (SEA) has made a representation in this regard to Commerce Minister Piyush Goyal. According to the SEA, "There are media reports that Nepal is putting pressure to allow export of RBD palmolein from Nepal under the South Asian Free Trade Area (SAFTA) agreement at zero duty".
Consensus is that the industry benefited from a lucky mix of factors in the oil market.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service