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By Scott DiSavino and Jessica Resnick-Ault NEW YORK (Reuters) - Oil prices jumped about 3% on Friday, hitting their highest levels in more than a year, following a stronger-than-expected U.S. jobs report and a decision by OPEC and its allies not to increase supply in April. Brent futures rose $2.62, or 3.9%, to settle at $69.36 a barrel. The session high for the global benchmark was its highest since January 2020. U.S. West Texas Intermediate (WTI) crude rose $2.26, For the week, Brent gains 5.2% gain, WTI up 7.4%or 3.5% to settle at $66.09 a barrel. For the week, Brent was up 5.2%, rising for a seventh week in a row for the first time since December, while WTI was up about 7.4% after gaining almost 4% last week.
Saturday, 06 Mar 2021 07:28 AM MYT
All Wall Street’s main indexes closed higher, bouncing back from early losses. Investors were spooked this week by rising interest rates, which offset optimism about an economic rebound. AFP pic
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NEW YORK, March 6 Wall Street and a gauge of global equity markets rose yesterday as investors cheered signs of economic strength in a report that showed faster-than-expected US jobs growth, data that initially stoked inflation concerns.
The session was marked by frantic trading across the globe. Asian markets dropped overnight. MSCI’s all-country index was on its longest losing streak in six months before clawing back.
The average cost of that crude purchase was USD 19 per barrel
Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020
New Delhi: International oil prices rose after OPEC and its allies ignored India s plea to ease production control, with Saudi Arabia asking New Delhi to instead use oil it bought at rock bottom rates last year.
Brent crude, the most widely used benchmark, on Friday rose nearly 1 per cent to USD 67.44 a barrel after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, agreed not to increase supplies in April awaiting more substantial recovery in demand.