About the oil
President Donald Trump has repented against OPEC and has done so as a warning in order to stop manipulating oil markets and put pressure on his closest allies. It has done so in an interview that aired on Sunday, with the threat of sanctioning companies doing business in Iran.
Since June 21, crude oil has gained more than $ 6 to reach $ 79.5 a barrel and is due to the search for greater compliance with US sanctions against Iran, which has caused traders to be afraid that the market’s oil supply can be substantially reduced. The prices of gasoline and diesel have remained unchanged for six days, the state marketing of oil could now begin to rise again prices, as world oil prices rose $ 3 a barrel.
The rupee’s record slide could bring cheers for exporters. Although the rupee recouped some of its losses, closing at 68.47 to dollar Friday, the weakening trend may be with some expecting to crash to 70 per dollar. The local unit touched an all-time, intraday low from 69.09 to dollar last Thursday. Indian exports were valued at $ 28.86 billion in May compared with $ 24.01 billion in the year earlier, up 20%. In this 12-month gap, the rupee lost 4.5% to the dollar.
July 02, 2018
Read more here: https://economictimes.indiatimes.com/markets/stocks/news/market-movers-fdi-growth-at-5-year-low-rupee-fall-and-exporters-politics-of-oil-more/articleshow/64820933.cms