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8:52 AM

Oil hovers near 3-year high

 

Oil hovered near a three-year high above $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, although analysts warned of a “red flag” due to surging US production.

 

Brent crude futures last traded 29 cents higher at $70.16, having risen to a high of $70.37 a barrel earlier in the session.

8:48 AM

Diesel prices at record Rs 61.74/L, petrol crosses Rs 71/L

 

Diesel prices have touched a record high of Rs 61.74 per litre and petrol prices have crossed Rs 71 as international oil rates continue to rally. Petrol price rose to Rs 71.18 per litre in Delhi on Monday, the highest since August 2014, according to daily fuel price list of state-owned oil firms.

8:41 AM

India's trade deficit widens to $14.88 bn in Dec

 

India's December trade deficit widened to its highest in more than three years as higher import bills for gold and crude oil weighed on rising exports, government data showed on Monday.

 

The trade deficit widened to $14.88 billion last month from $13.83 billion in November, data from the Ministry of Commerce and Industry showed.

8:38 AM

SGX Nifty

 

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 6.5 points or 0.06%

8:37 AM

Asian shares slip 

 

Asian shares slumped on Tuesday, as miners were pressured by weaker Chinese iron ore prices, while the euro stood near a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2% in early trade. US markets were closed for a public holiday on Monday.

 

Australian shares slipped 0.5%.

8:36 AM Good Morning!

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