Karn Sharma and Swapnil Singh bag four key wickets to secure a 35-run victory in Hyderabad
The UAE fuel price committee on Sunday announced the revised fuel prices for March 2021, which have been increased in line with the rise in global oil prices.
Listen to this story and more on 8@8 with David Light
In March, Super 98 petrol will cost Dh2.12 per litre, versus Dh1.91 in February; while Special 95 will cost Dh2.01 per litre, versus Dh1.80 in February. Diesel will cost Dh2.15 a litre in March, versus Dh2.01 in February.
Experts have noted that oil prices are currently trading above pre-pandemic levels, but demand is still below its pre-pandemic levels.
In its most recent prediction, Bank of America said that oil prices are set to rise by the fastest rate since the 1970s over the next three years. The average price of Brent over the next five years, however, will be between $50 and $70 per barrel, according to the bank. The bank also said that Opec+ might decide to reverse its production cuts now that Brent is trending above $60, but added that a slow return of US shale to international markets might lead to an extension of the production cut agreement to make sure prices stay higher.
Traders are trimming long positions on concerns that the upcoming Opec+ meeting will result in more supply returning to the market.
“The originally planned [easing of cuts] would mean an increase in supply of 2.25 million bpd versus March levels,” HSBC said in a recent note.
US crude oil prices also face pressure from the loss of refinery demand after several facilities were hit by the winter storm last week. Refining capacity of about 4 million barrels per day is still shut and it could take until March 5 for all shut capacity to resume, though there is risk of delays, analysts at J.P. Morgan observed.
rohma@khaleejtimes.com
Karn Sharma and Swapnil Singh bag four key wickets to secure a 35-run victory in Hyderabad
The patient had endured years of severe pain and debilitating health complications due to the tumour
The concert is set to take place on April 27
Move aims to amplify Zambia’s renewable energy capacity
More vertiports will be set up in strategic locations across Abu Dhabi, including major business hubs and tourism destinations
Kerala will decide the fate of 194 candidates as polling on all 20 parliamentary constituencies will be held in the second phase
Pecker is a key witness in the case against the former US president, who is accused of falsifying business records to cover up hush-money payment
The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement