Drop in oil prices ‘gives crypto miners an edge’

Bitcoin educator Andreas Antonopoulos sees the recent downturn in oil prices as a net positive for crypto miners worldwide, particularly those at the Bitmain mining facility in Texas, Cointelegraph reported. In a video he posted to his YouTube channel titled Down the Rabbit Hole, Antonopoulos said falling oil prices will benefit crypto miners by providing…

Cooking gas price hiked as India starts to lose advantage of low oil prices

India is losing the advantage of substantially low international oil prices as its cost of crude imports in rupee terms has surged 69% in just two months, forcing state-run companies to raise the cooking gas price for the first time since February by Rs 11.50 a cylinder. State-run Indian Oil Corporation (IOC), the country’s largest…

Govt mulling new retailing model to make all fuels available at one place

After doorstep conveyance of diesel, the administration is seeing beginning home conveyance of petroleum and CNG for the more prominent comfort of clients, Oil Minister Dharmendra Pradhan said on Friday.Also, the legislature is taking a gander at disclosing another fuel retailing model where a wide range of energizes — petroleum, diesel, CNG, LNG and LPG…

Oil markets extend gains as prices end on a monthly high

Abu Dhabi: Oil prices extended their rally for a fifth consecutive weekly high, as oil markets ended the month May on a positive note driven by production cuts and global economies easing their lockdown measures. Brent was trading at $37.84 on Friday’s closing, with West Texas Intermediate (WTI) on $35.49, as the American benchmark recorded…

U.S. warns governments, firms against aiding Iran fuel shipments to Venezuela

Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions if they aid the tanker flotilla, the U.S. envoy on Venezuela told Reuters on Friday. Elliott Abrams, Washington’s special representative on Venezuela, said the pressure…