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Oil posts biggest monthly gain in a year on tight supply, Ukraine tensions

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Oil posts biggest monthly gain in a year on tight supply, Ukraine tensions

Oil prices rose to the end of January on Monday, posting their biggest monthly gain in a year on supply shortages and political tensions in Eastern Europe and the Middle East.

The most-active Brent contract for April delivery rose 74 cents, or 0.8%, to settle at $89.26 a barrel. The front-month contract for March delivery, which expires at the close, was up $1.18, or 1.3%, at $91.21.

U.S. West Texas Intermediate crude gained $1.33, or 1.5%, to settle at $88.15 a barrel.

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The benchmark index hit its highest level since October 2014 on Friday, at $91.70 and $88.84, its sixth straight weekly gain. They are up about 17% this month, their biggest gain since February 2021.

Market analysts and Reuters sources widely expect OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies led by Russia, to maintain its policy of gradually increasing output when it meets on Wednesday.

OPEC+ producers have boosted output by 400,000 bpd per month since August.

Louise Dickson, senior oil market analyst at Rystad Energy, said: “A 400,000 bpd monthly supply increase is either too inconsequential for the market to appreciate, and more importantly, the group has not fully achieved that. “

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“As a result, the only short-term solution to balance the undersupplied oil market will need to come from OPEC+ and be dominated by Saudi Arabia, the producer with the largest spare capacity.”

However, OPEC’s oil output in January again fell short of the planned increase in a deal with allies, a Reuters survey found, underscoring the difficulty some producers have struggled to increase output even at seven-year highs.

Geopolitical tensions involving major oil producers Russia and the United Arab Emirates intensified in January.

Europe needs to diversify its energy supplies, the NATO chief said on Sunday, as Britain warned Russia was “very likely” to try to invade Ukraine.

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Markets were also wary of the Middle East after the UAE said it had intercepted a ballistic missile fired by Yemen’s Houthis, as the Gulf state hosted Israeli President Isaac Herzog on the first such visit.

Complete News Source : Business Standard

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$92.8 million

Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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