Iran reacts with war threats as US waivers on Iranian oil expire

Iran’s armed forces should prepare as if an attack were imminent, General Abdolrahim Mousavi instructed on Thursday just as the US waivers on Iranian crude oil sanctions expired, according to Iran’s Radio Farda. “All forces should prepare themselves as though an attack can occur tomorrow and continuously engage in war exercises,” Mousavi told IRNA, the official […]

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India’s steel ministry is considering alternate mineral auctions

India’s Steel Ministry is seeking to simplify and further liberate mining policy, including combining the two-stage auction of mineral blocks into a single stage bidding process. The Steel Ministry feels that single stage bidding for mineral blocks will lower the impact of skyrocketing premiums that result from the multiple stage bid process as followed at […]

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Discontinuation of crude oil import from Iran can impact export of basmati rice: ICRA

The recent announcement of withdrawal of waiver (which allowed India to continue to import crude oil from Iran despite imposition of trade sanctions on Iran) by the US government in the first week of May has led to uncertainty over India importing crude oil from Iran. This can in turn skittle the exports of commodities […]

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Oil prices to be lower in 2019 on slower-than-expected global growth, rising non-OPEC supply – World Bank

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Crude oil prices are expected to average $66 a barrel in 2019 and $65 a barrel in 2020, a downward revision from the October forecast due to the weaker-than-expected global growth outlook and greater-than-anticipated U.S. production, the World Bank said. Metal prices are expected to continue a recovery in 2019 that follows a sharp drop […]

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Increase of cheaper coal in Southeast Asia foils global green push

Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel under pressure from green-minded investors. Indonesia is on track for the third-largest coal-fired power capacity of new plants under development, behind China and India. Vietnam follows in fourth place, while the Philippines […]

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Saudis threaten US with ‘Nuclear Option’ to kill petrodollar; warns not to go ahead with NOPEC bill

Saudi Arabia has threatened to use the “nuclear option” of undermining the petro-dollar if the U.S. moves forward with the NOPEC bill. The U.S. Congress has been mulling legislation, known as the NOPEC bill, which would allow the US  Justice Department to take antitrust action against OPEC for manipulating the oil market. Specifically, the bill would […]

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