Business
Oil prices clamber towards 7-year highs on Russia-Ukraine tensions
Oil prices rose on Monday, climbing to their highest level in more than seven years, on fears that a possible Russian invasion of Ukraine could trigger U.S. and European sanctions and disrupt energy exports from the world’s largest producer.
Brent crude futures were at $95.73 a barrel by 0109 GMT, up $1.29, or 1.4%, after hitting a session high of $95.91. U.S. West Texas Intermediate (WTI) crude was up $1.49, or 1.6%, at $94.59 a barrel, hovering near a session high of $94.92.
Global financial markets have been rattled by U.S. comments about an imminent Russian attack on Ukraine.
The United States said on Sunday that Russia could invade Ukraine at any time and could create a surprise pretext for an attack.
“If… a troop movement occurs, Brent won’t have any difficulty rising above $100,” OANDA analyst Edward Moya said in a note.
“Oil prices will remain extremely volatile and sensitive to incremental updates on the situation in Ukraine.” Investors are also eyeing the resumption of talks between the U.S. and Iran on the 2015 nuclear deal.
However, a senior Iranian security official said on Monday that progress in the talks was becoming “more difficult”.
In the U.S., strong oil prices are encouraging energy companies to boost output as they added the most oil rigs in four years last week, energy services firm Baker Hughes said on Friday.
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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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