Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil. Brent futures rose 84 cents, or 0.8%, to $111.74 a barrel by 0306 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 80 cents, or 0.7%, to $109.06 a barrel. Brent and WTI are on track to rise for a second week in a row, buoyed by the EU‘s proposal to phase out supplies of Russian crude oil in six months and refined products by the end of 2022. It would also ban all shipping and insurance services for transporting Russian oil. The plan still requires unanimous backing from the 27 countries in the bloc. “There are concerns over global growth and what it could mean for oil demand,” said Warren Patterson who heads ING’s commodities research.
Asia
Afghan government, Taliban announce breakthrough deal to press on with peace talks
Kabul (TIP): Afghan government and Taliban representatives said on Wednesday they had reached a preliminary deal to press on with peace talks, their first written agreement in 19 years of war. The agreement lays out […]
United States
Navy Pier, Delhi committee of Chicago Sister Citiespartner for celebration of Holi
CHICAGO, IL (TIP): First time a large metropolitan city in the United States, Chicago, celebrated the Indian festival of Holi, with over 2000 people in attendance which included live cultural program, music and dances, food […]
Coronavirus
Delta Plus advances in Maharashtra: 5 deaths, 66 cases so far
Maharashtra health department has said five people have died from the Delta Plus variant of the coronavirus and as many as 66 cases have been detected in the state so far. The department said on […]
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