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


18 Apr 2022

Oil Prices Stabilize over Slackening Demand in China

The Index Today

Oil prices turned stable on Monday due to retreating demand in China which induced investors to claim gains made over highs during the initial session amid mounting fears of deepening global supply crunch spurred by worsening conditions in Ukraine.

According to Reuters, Brent crude rose by 0.2% to $111.97 per barrel at 0642 GMT, following a slump from its highest level of $113.80 since March 30, achieved during the initial session. The U.S. West Texas Intermediate (WTI) futures also edged higher by 0.2% to $107.15 a barrel, after having achieved a high of $108.55 earlier in the session which is its highest since March 30.

The Chinese economy sustained a blow in March marked by slumps in real estate, exports and consumption, further exacerbating the fiscal outlook already affected by COVID-19 curbs and the Ukraine-Russia crisis.

Rakuten Securities’ commodity analyst Satoru Yoshida contended, "Some Asian investors booked profits as they became worried about slowing demand in China.”

©Photo: Reuters

Clay pottery with table linens
bottom of page