USD/INR closed at 68.8025 against its opening of 68.75.
Dollar under pressure after Fed fuels bets on large rate cut.
Sensex provisionally ends 560 points lower at 38,337, with all but four components in the red.
ECB to cut rates in September, QE 2.0 still on the cards - analyst poll.
U.S. sanctions network selling materials for Iran nuclear programme.
North Korea says nuclear talks at risk if U.S.-South Korea exercises go ahead.
South Korea's central bank surprises with rate cut as Japan row adds to risks.
U.S., Japan eye possible small trade deal by September: sources.
Japan's core inflation hits 2-year low, might push BOJ to ease again soon.
Iran ready to talk if U.S. lifts sanctions, Pompeo skeptical.
Japan trade minister blasts South Korea for 'mistaken' explanation after bilateral meeting.
Oil jumps, Brent up more than 2% after U.S. Navy downs Iranian drone.
China makes biggest U.S. sorghum purchase since April as trade talks resume.
Trump administration erects another barrier to immigrants seeking U.S. asylum.
Worried UK employees call for changes to proposed immigration reform.
China to tighten restrictions on scrap metal imports.
Gold inches down as strong U.S. retail sales lift dollar.
Asia stocks firm as Fed props up rate cut expectations.
Chance of no-deal Brexit rises as Johnson leads Hunt - poll.
Crude oil prices touched new four-year highs a day before. Brent crude - the international benchmark for crude oil - touched $82.20 a barrel during yesterday’s session. That marked a level beyond the last peak witnessed in November 2014. Expectation of a tightening supply in the global oil market in the coming months has pushed crude oil prices higher. The latest bout of weakness in crude oil prices comes ahead of start of sanctions by the United States on Iran, the third-largest producer among OPEC (Organization of the Petroleum Exporting Countries) member countries. India gets over 82 per cent of its crude oil supplies via imports. The onslaught of rising oil prices and a depreciating rupee is likely to widen India's current account deficit (CAD) and fiscal deficit.
Massive Increase in Brent Oil; the week in energy
Facts to know about rising crude oil prices:
Crude prices could rise above $100/b as market uncertainties stack up including sanctions on Iran, Venezuelan production concerns, tighter crude inventories and Saudi spare capacity, oil traders said at the S&P Global Platt’s Asia Pacific Petroleum Conference in Singapore. The US sanctions on Iran threaten to cut Iran's crude exports to as little as 1 million-1.3 million b/d from over 2.5 million b/d.
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