BP is the first of Australia's four refiners to pull the plug on its plant in the wake of this year's slump in demand, triggered by the coronavirus pandemic. Two rivals have also flagged that they are considering the future of their plants.
The govt on Thursday banned exports of onion seeds with immediate effect. Earlier, the export of onion seeds was in the restricted category, which means an exporter was required to obtain a licence or permission from the government for shipments.
Marketmen said raising of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.
Analysts said widening of positions by traders mainly helped refined soya oil prices to trade higher in futures market.
U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.8%, to $37.68 a barrel at 0120 GMT, while Brent crude futures rose 25 cents, or 0.6%, to $39.37 a barrel. Signs of a growing global supply glut and a second wave in the coronavirus pandemic sent prices tumbling in the previous session, but market watchers said technical support levels were a factor in trading on Thursday.
Brent futures fell $2.07, or 5.0%, to $39.13 a barrel by 10:13 a.m. EDT (1413 GMT), while U.S. West Texas Intermediate (WTI) crude fell $2.27, or 5.7%, to $37.30.
Globally, West Texas Intermediate crude oil was trading 2.98 per cent lower at USD 38.39 per barrel, while Brent crude declined 2.43 per cent to USD 40.20 per barrel in New York.
"The higher-than-expected build in U.S. crude stocks prompted fresh selling, while concerns over supply disruption from Hurricane Zeta have receded," said Hiroyuki Kikukawa, general manager of research at Nissan Securities.
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