Crude oil prices climb on strong demand, weak supply

Union Home Minister and Minister of Cooperation Amit Shah visited the National Memorial Cellular Jail and laid a wreath at the Martyrs’ Column in Port Blair on Friday. He also visited the cell of Veer Savarkar and paid homage. The Home Minister attended the cultural programme as part of ‘Azadi Ka Amrit Mahotsav’ in Cellular Jail. Addressing the event, the Home Minister said that it is a matter of pride for me to come to this holy place. Remembering freedom fighters Veer Savarkar and Sachin Sanyal, he exclaimed that their sacrifice inspired many youths to serve for the country. Shah said, freedom fighters have suffered highly at cellular jail but their spirits remained undaunted. It is the land of supreme sacrifices. The Government gave away the status ''the most sacred place ''Trithsthal'' of the Indian Sub-Continent '' to Cellular Jail. The Home Minister unveiled the plaque at the front gate Cellular Jail complex.

-Maharashtra Chief Minister Uddhav Thackeray has said that his government is making efforts to bring investments and businesses to the state. Addressing the annual Dusshera rally of Shiv Sena in Mumbai on Friday, Uddhav Thackeray urged leaders from the opposition parties not to tarnish the image of the state. He said that the state government has given financial assistance of 10 thousand crore rupees to the people affected due to heavy rainfall. He informed that a war memorial will be constructed in the memory of soldiers who laid down their lives in the line of duty.

-Global crude oil prices climbed, heading for gains of more than 3 per cent for the week, on increasing signs of robust demand and tighter supplies over the next few months as rocketing gas and coal prices stoke a switch to oil products. Brent crude oil futures touched their highest since October 2018, rising 92 cents, to 84.92 dollars a barrel. Front-month prices are set to climb for the sixth straight week, up 3 per cent this week. US crude futures rose 75 cents to 82.06 dollars a barrel, adding to an 87 cent jump on Thursday. The contract is heading for a 3.4 per cent gain on the week, up for the eighth consecutive week. Prices could rise sharply as OECD oil stockpiles are likely to drop to their lowest level since 2015. Demand has picked up with the recovery from the COVID pandemic, with a further boost coming from industry turning away from expensive gas and coal to fuel oil and diesel for power.

-Union Road Transport Minister Nitin Gadkari said that Lord Gautam Buddha's message of world peace and Panchsheela's philosophy is a philosophy that guides the whole world. He was speaking as the chief guest of the Dhamma Chakra Festival organised on the occasion of 65th Dhamma Chakra Pravartan Day at Dragon Palace Temple in  Kamptee of Nagpur. Union Minister of State for Social Justice Ramdas Athavale, Leader of the Opposition in Maharashtra Assembly Devendra Fadnavis and Chief of Dragon Palace Adv. Sulekhatai Kumbhare was present on this occasion. Gadkari informed that the Union Ministry of Roads and Transport is constructing roads worth 20,000 crore rupees in Buddhist circuit wherein important cities like Lumbini, Sarnath, Kushinagar of Uttar Pradesh and Bihar will be linked through concrete roads. These cities are also related to Buddha’s important life events.  Union Minister Athavale on this occasion emphasized the importance of Vipassana for mental peace.

-President Ram Nath Kovind paid homage to War Martyrs at Kargil War Memorial in Drass, today. On the second day of his two-day tour to Ladakh and Jammu and Kashmir Union Territories, the president visited the Kargil war memorial in Drass.President of India and the Supreme Commander of Armed Forces Ram Nath Kovind made a maiden visit to Kargil War Memorial in Drass on Friday. Ram Nath Kovind laid a floral wreath at the war memorial at the foothills of Tololing in Drass. At the wreath-laying ceremony, he was accompanied by Chief of Army Staff General Bipin Rawat and Northern Command GoC Lt Gen YK Joshi.To celebrate Vijaya Dashami with the troops, the President participated in the Shastra Puja at the war memorial. On the occasion, he interacted with the troops and raised Bharat mataki jai slogans with the soldiers. Ladakh Scouts Regiment Centre presented patriotic songs and an army bands for the President.

-The festival of Vijayadashmi or Dussehra was celebrated across the country on Friday. The festival celebrated to remember Lord Ram's victory over Ravana, marking the triumph of good over evil. The day also marks the culmination of Navratri and Durga Puja. In Kerala, amid Covid crisis, thousands of children were initiated into the world of knowledge Friday, as part of the tradition of Vidhyarambham. Keralites across the globe celebrate Vijayadashami as the Vidhyarambham day, the auspicious day for beginning learning in any field. Various sacred rituals were conducted in temples across the state adhering to strict Covid guidelines. Temples at Panachikkad in Kottayam, Chottanikkara and Dakshina Mookambika in Ernakulam, Thunchan Mutt in Palakkad and at various other centres, children above three years of age were introduced to the world of letters.