top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


28 Jan 2022

Crude Oil Gains amid Predictions of Sixth Successive Week of Earnings

The Index Today

Oil surged on Friday, paving the way for yet another week of profits for the industry. This gain has been largely spurred by the ongoing geopolitical tensions between Ukraine and Russia which have, of late, interfered with production plans of OPEC+ countries leading to tightening supplies even as global demand recovers from its pandemic slump.

U.S. crude futures inched up by 0.4% at 5am ET with each barrel being priced at $86.92. Brent crude futures edged higher by 0.3% close to a four-month peak, with a price of $88.40 per barrel. U.S. Gasoline RBOB Futures rose by 0.7% at $2.5397 per gallon.

GAIN Capital’s Global Head of Market Research, Matthew Weller, contended that “The ongoing rally in crude oil is relentless, despite concerns about subdued demand as Omicron spreads across the globe like wildfire and a surging U.S. dollar in the wake of the hawkish FOMC meeting."

The OPEC+ is set to meet next week at the helm of Russia, where it is likely that the organization would adhere to its original plan of supplying 400,000 barrels per day, which is imperative since of late, it has faced difficulties in achieving its production goals.

Clay pottery with table linens
bottom of page