Oil hits 5-month low of $94 per barrel
Benchmark oil for June delivery was down 44 cents at $94.34 a barrel, the lowest since December, at midday Singapore time in electronic trading on the New York Mercantile Exchange.
The contract fell $1.35 to settle at $94.78 in New York yesterday.
Brent crude for July delivery was down 45 cents at $110.55 per barrel in London.
Crude has sunk about 11 per cent from $106 earlier this month amid signs of slowing economic activity in the world's two biggest oil consumers, the US and China.
This week, traders are worrying that Greece's inability to form a government after recent elections could worsen the country's debt crisis and deep recession, and undermine confidence throughout Europe.
"Greece's struggle to form a new government has moved to centre stage," energy trader and consultant Ritterbusch and Associates said in a report. "The possibility of a significant economic slowdown in European economic activity is prompting contagion fears."
Oil investors are also taking their cues from global stock markets, which have slumped so far this month. The Dow Jones industrial average fell 1 per cent yesterday and most Asian stock markets were down today.
BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.
Date 23-02-14, Duration 1:43, Views 60134
Date 23-02-14 1:43
Tooltip Information:AAP's alliance with Cong. a suicide: BJPVideo by:Description: BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.Rating: 3.37Views: 60134
Date 15-09-14 1:06
Tooltip Information:Swedish PM Fredrik Reinfeldt to resign after losing to Left oppositionVideo by:Description: Sweden, Sep 15 (ANI): Swedish Prime Minister Fredrik Reinfeldt concedes his defeat after opposition center-left alliance, led by the Social Democratic Party, beat the incumbent center-right government in the 2014 parliamentary election. Reinfeldt is to resign on Monday after the defeat. He also told supporters in Stockholm late yesterday that he will also step down as leader of the conservative Moderate Party next year. According to Swedish Parliament website, the final election results are expected to come out on September 20 and the newly elected parliament will convene on September 29.Rating: 4.5Views: 329
Date 13-09-14 2:39
Tooltip Information:Bypolls: Voting begins for 3 Lok Sabha, 33 Assembly seatsVideo by:Description: Lucknow/ Moradabad/ Kolkatta/ Vadodra, Sept 13 (ANI): Polling for three Lok Sabha and 33 Assembly seats is currently underway across 10 states with the results crucial for both the ruling BJP-led NDA government as well as the opposition parties who are yet to recover from the massive defeat in the 2014 Lok Sabha elections. Voters began to queue up on Saturday at polling stations for the by-poll in Uttar Pradesh's one Lok Sabha and 11 assembly constituencies. Samajwadi Party and the Bharatiya Janata Party (BJP) are the main contenders in most of the assembly seats and the lone Lok Sabha seat.Voting is also underway for the Chowringhee and Basirhat (South) assembly constituencies in West Bengal.Voting for the Antagarh assembly constituency in Chhattisgarh also began today.Polling for Gujarat's one Lok Sabha and nine assembly by-polls is underway too.The Vadodara Lok Sabha seat was vacated by Prime Minister Narendra Modi after he was elected to the parliament from two places, including Varanasi in Uttar Pradesh.Voters queue up in Telangana too for polling.Rating: 4Views: 256
Date 12-09-14 5:13
Tooltip Information:Maharashtra, Haryana to go to polls on 15 Oct: ECVideo by:Description: New Delhi, Sep 12 (ANI): The Election Commission of India on Friday announced the election dates for the Maharashtra and Haryana assembly elections 2014. Talking to mediapersons in New Delhi, Chief Election Commissioner VS Sampath said, that polling would be held in Maharashtra and Haryana on 15 October. The results will be announced on 19 October. The Election Commission announced that the notification for the election in the two states will be issued on 20 September. The last date for candidates to file their nominations will be 27 September. The process of scrutiny will be conducted on 29 September and the last date for withdrawal of nominations will be 1 October.Rating: 4Views: 120
Date 3 hrs ago 1:31
Tooltip Information:Elephants damage huts fields and fodder in JharkhandVideo by:Description: Lohardaga, Sep 22 (ANI): A herd of about sixteen elephants created havoc in a village of Lohardaga district in Jharkhand as they rampaged through huts and fields, forcing people to flee out of fright. A resident, Shadik Khan, said that the villagers, especially children are scared. The herd comes in the evening and people run out of their homes for their lives. The elephant menace is giving villagers sleepless nights, he added. Meanwhile, Divisional Forest Officer (DFO), Ashok Kumar Singh, said they would assess the damages done to get the villagers compensated by the government.Rating: 4Views: 12
Date 15 hrs ago 2:01
Tooltip Information:Three die after falling in cesspool in UPVideo by:Description: Moradabad, Sep 21 (ANI): A couple along with their rescuer died as sewer water washed them away after they fell into a cesspool in Moradabad district of Uttar Pradesh. The couple landed in trouble as their bike fell into an under construction slurry sewer pit filled with rain water. A resident, Amit Kumar said on Sunday that a construction company had left the pit open, which had become large due to heavy rains. Rescue operation is underway to recover the bodies from the slurry pit. Residents were quizzed by police officials while ambulance service has been put in action.Rating: 4Views: 17