Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals.
Stocks fell and metals prices slumped to their lowest in a year on Wednesday, as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies ever closer to a full-scale trade war.
Benchmark Brent oil futures LCOc1 rose by 96 cents, or 1.2 percent, to $79.03 per barrel by 1147 GMT.
Barclays raised its outlook for oil prices for this year and next amid expectations of lower supply from Libya and Iran.
Italy has refused to allow a commercial vessel flying an Italian flag to bring ashore rescued migrants, apparently keeping up a hardline policy on new arrivals as it presses European allies to share the burden of hosting an influx of displaced people.
A humanitarian rescue boat carrying 60 migrants rescued off Libya docked in Barcelona on Wednesday after being turned away by Malta and Italy, in the latest example of European divisions on immigration.
More than 1,000 people have drowned in the Mediterranean this year sailing from Libya to Europe, with a rush in the past few days to beat an anticipated crackdown by the European Union, the International Organization for Migration said.
Rupee collapsed to a lifetime low of 69.10 against the US dollar by plunging 49 paise in early trade today as rising crude oil prices deepened concerns about the country's current account deficit and inflation dynamics.
The chairman of EU leaders’ talks, Tusk, said he wanted the Thursday to Friday summit in Brussels to agree 3 new measures to control migration better.
ICICI Lombard sells 17.7 Lk shares or 0.84% equity at Rs 270/sh
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Plans to sell part of se Asia biz as part of strategy to exit non scalable biz
To sell Singapore & Thailand units valuing them at $ 500Mn
Singapore & Thailand biz contributes 16% to revenues & 2% to EBITDA
To turn focus to domestic market
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Offer of Rs 3,000-4,000 Cr made by FIN services firm