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Showing posts with the label Business Support Services (NEC)

Oil prices fall amid concerns on renewed restrictions over Omicron spread

  Oil prices fell on Tuesday due to investor worries about demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases Oil prices fell on Tuesday due to investor worries about demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases. Brent crude oil futures eased by 34 cents, or 0.5%, to $74.05 a barrel by 0401 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell by 35 cents, or 0.5%, to $70.94. “Energy traders don’t want to bet against OPEC+ but all the short-term risks from Omicron to Fed tightening is proving to be very disruptive to the short-term outlook for oil prices,” said Edward Moya, senior analyst at OANDA. “The virus spread across Europe is delivering a bigger hit than expected and when you calculate family gatherings for the holidays, the short-term outlook could get slashed over the next month.” Governments around the world, including most recently Britain and Norway, were tig...

Govt intends to diversify agriculture to support energy security: Gadkari

  Agriculture is India’s real strength, said Union Minister for Road Transport and Highways Nitin Gadkari on Wednesday, adding the government intends to diversify it into the energy and power sector Agriculture is India’s real strength, said Union Minister for Road Transport and Highways  Nitin Gadkari  on Wednesday, adding the government intends to diversify it into the energy and power sector. “India’s fuel energy security can be well supported by Agriculture as it provides opportunities for concepts such as waste to wealth and waste to energy and ultimately leading to the benefit of all,” said Gadkari while virtually addressing Bio-Energy Summit 2021 ‘Farm-2-Fuel: Sustainable Bioenergy Solutions for Aatmanirbhar Bharat’. The Minister said these targets will be achieved through a five-phased strategy which includes adopting biofuels and renewables, implementing energy efficiency norms, improving refinery processes, increasing domestic production and achieving demand sub...