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Oil prices rise as breakdown in Iran-US talks raises supply concerns

NEW DELHI, July 1 (Reuters) – Oil prices rose on Wednesday on concerns breakdowns in ‌discussions between Iran and the U.S. for a final agreement to end their war may extend supply disruptions in the key Middle East producing region. Brent futures rose 33 cents, or 0.45%, to $73.28 a barrel at 0339 GMT, while U.S. West Texas Intermediate (WTI) crude ​climbed 34 cents, or 0.49%, to $69.84 a barrel. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. “Hormuz continues to reopen but it’s patchy, unpredictable, and not ​fully

Markets rebound in early trade after two days of decline

Mumbai, Jul 1 (PTI) Benchmark indices Sensex and Nifty rebounded in early trade on Wednesday after two days of decline amid a positive trend in global markets and buying in auto stocks. The 30-share BSE Sensex climbed 182.42 points to 76,661.36 in early deals. The 50-share NSE Nifty went up by 49.90 points to 23,916.85. From the Sensex pack, Eternal, Mahindra & Mahindra, Maruti Suzuki India, Titan, Hindustan Unilever, UltraTech Cement, Adani Ports and Asian Paints were among the major winners. Bajaj Finserv, Tech Mahindra, Larsen & Toubro and NTPC were among the laggards. In Asian markets, Japan’s Nikkei 225

Rupee falls 19 paise to 94.75 against US dollar in early trade

Mumbai, Jul 1 (PTI) The rupee fell 19 paise to 94.75 against the American currency in early trade on Wednesday, weighed down by the strength of the American currency in the overseas market. Forex traders said whenever fresh foreign inflows enter the country, the central bank is likely to use the opportunity to rebuild its reserve position rather than allowing the rupee to strengthen too much. Moreover, uncertainty prevailed over the progress of US-Iran peace talks keeping a geopolitical risk premium in the market. At the interbank foreign exchange market, the rupee opened at 94.67, then touched 94.75 against the

India cuts price of LPG cylinder for industrial clients, local media reports

MUMBAI, July 1 (Reuters) – Indian oil marketing companies ​have cut the ‌price of 19 kg commercial LPG ​cylinders for industrial ​clients by 183.5 rupees ($1.94), ⁠with no ​change in rates for ​household cylinders, local media reported on Wednesday. Indian ​Oil Corporation, India’s ​largest state-run refiner and ‌fuel ⁠retailer, in June had raised the price of commercial LPG ​cylinders ​to ⁠3,113.50 rupees from 3,071.5 rupees ​amid a ​supply ⁠squeeze triggered by the Middle East ⁠crisis. ($1 = ​94.6600 Indian ​rupees)

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