Oil prices were stable on Tuesday as concerns that a US stimulus package might hit snags and rising coronavirus cases countered bullish signals from better compliance with a supply cut deal and ongoing vaccine efforts.
Brent crude was down 28 cents, or 0.5%, at $55.60 by 0747 GMT, while U.S. crude fell 26 cents, or 0.5%, to $52.51. Both rose nearly 1% on Monday.
import cessThe mission may be funded by levying a cess of ₹2,500-3,000 per tonne on import which will generate a corpus of ₹6,000 crore per year
Telecom tariff hikes, new product launches (eg non-grocery e-commerce) and a potential energy business stake sale can reverse the pullback in Reliance shares since mid-September, it said.
Refined soya oil for delivery in February declined by Rs 11.6, or 1.11 per cent, to Rs 1,039 per 10 kg in 37,515 lots.
Cottonseed oil cake for delivery in February gained Rs 45, or 2.14 per cent, to Rs 2,149 per quintal with an open interest of 90,000 lots.
Reliance for the first time reported integrated earnings of the O2C business in its third quarter financial results. Previously, refining and petrochemical businesses were reported separately while fuel retailing revenue was part of the firm's overall retail business.
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