Auto Industry

Reuters

Aug 7, 2022, 9:45 PM

Oil Prices Hit Lowest Since Ukraine Invasion Amid Recession Fears

Global oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand.

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  Reuters | Aug 7, 2022

  U.S. Targets Chinese, UAE Firms In New Iran Oil Sanctions

  The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme.

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  Reuters | Aug 7, 2022

  Moldova's Ex-President Calls For Snap Elections Over Gas Price

  Moldova's pro-Russian opposition leader called for snap presidential and parliamentary elections on Tuesday and told the pro-Western government to go to Moscow to negotiate cheaper natural gas from Russia as prices soar.

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  Reuters | Aug 7, 2022

  Oil Edges Up Ahead Of OPEC Meeting Despite Recession Worries

  Oil futures edged up less than 1% on Tuesday ahead of a meeting of OPEC+ producers this week that may not lead to a further boost in crude supply amid concerns a possible global recession could limit energy demand.

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  Reuters | Aug 7, 2022

  Oil Sinks About 4% After Weak Factory Data Sparks Demand Concerns

  Oil prices dropped about 4% as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week's meeting of OPEC and its producer allies on supply.

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  Mihir Barve | Aug 7, 2022

  Bank Of America Offers Rs. 2.95 Lakh Incentive Towards Purchase Of An EV For Its Employees

  As a part of its new global electric vehicle program for teammates, Bank of America is offering an incentive of Rs. 2.95 lakh for a purchase and Rs. 1.47 lakh for a lease of a new EV to its employees.

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  Reuters | Aug 7, 2022

  Russian Crude Prices Recover On Strong India, China Demand

  Spot prices for Russia's key export crude grade ESPO Blend to Asia have rebounded from all-time lows amid strong demand from top buyers India and China and easing concerns about possible sanctions, several traders said.

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  Reuters | Aug 7, 2022

  Mahindra & Mahindra Says Demand For Cars Outstripping Capacity

  Mahindra and Mahindra Ltd said demand for its cars is outstripping production capacity as people rush to buy the automaker's popular SUVs.

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  Reuters | Aug 7, 2022

  Monsoon Rains Dampen India's July Fuel Demand

  Gasoline and gasoil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for goods.

  1 min read