Auto Industry News

Global stocks rallied after recent losses as benchmark U.S. Treasury yields eased from three-month highs and oil prices fell below $90 a barrel.

India's August fuel consumption was little changed from the previous month, government data released showed, even as diesel demand dropped to the lowest this year during monsoon season in the world's No. 3 oil consumer.

Ecuador reached a preliminary agreement with indigenous groups to declare a temporary moratorium on 16 oil blocks, Energy and Mining Minister Xavier Vera said, a turning point in negotiations aimed at staving off renewed street protests.

Oil prices ended nearly 1% lower, reversing earlier gains as U.S. consumer prices unexpectedly rose in August.

Oil futures fell over 3% on a tentative agreement that would avert a U.S. rail strike, expectations for weaker global demand and continued U.S. dollar strength ahead of a potentially large interest rate increase.

Kenya scrapped a subsidy on petrol a day after new President William Ruto said subsidies were unsustainable.

Saudi Arabia emerged as the second-biggest oil supplier to India after a three-month gap, overtaking Russia.

Magna is investing $77 million in India's EV startup Yulu to enter the micromobility market.