Commodity: A surge in energy and metal prices is offering investors a fresh reminder of how the commodities market can fuel inflation and imperil the post-pandemic economic recovery.
OPEC+ To Extend Oil Production Cuts Till April. The Organization of the Petroleum Exporting Countries Plus, in its latest meeting, agreed to extend production cuts from March to April 2021.
Why Higher Crude Prices : Brokerages expect Indian oil explorers like Oil & Natural Gas Corp. and Oil India Ltd. to benefit from rising crude prices, stemming from optimism over vaccination drives across the world and a pick-up in economic activity. But there are other concerns around the two oil explorers.
Brent Oil advanced near $60 a barrel as global supplies tighten and the demand outlook improves with the rollout of Covid-19 vaccines.