Crude jumps on global energy crunch; U.S. oil at a 7-year high
The Hindu
The energy crisis sweeping the world is raising the prospect of a difficult winter to come as heating demand rises.
Oil prices surged again on Monday, extending the multiweek gains as an energy crisis gripping major economies shows no sign of easing amid supply restraint from the major producers.
Brent crude was up $1.20 cents, or 1.5%, at $83.59 abarrel by 0414 GMT, after gaining nearly 4% last week.
The U.S. oil was up $1.51, or 1.9%, at $80.86 a barrel, the highest since the late 2014. The U.S. crude rose 4.6% through Friday.
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The Karnataka government has drafted a comprehensive master plan for the integrated development of Kukke Subrahmanya temple, the State’s highest revenue-generating temple managed by the Hindu Religious Institutions and Charitable Endowments Department. The redevelopment initiative is estimated to cost around ₹254 crore and aims to enhance infrastructure and facilities for devotees.