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Oil could drop $3 if virus plays out like SARS – Goldman Sachs

The US investment banking giant, Goldman Sachs, assesses the impact of a potential SARS-like epidemic on oil markets.

Key Quotes:

The virus that originated in Wuhan could result in global demand falling by 260,000 barrels a day in 2020, with jet fuel accounting for around two-thirds of the loss.

That would probably lead to a $2.90 a barrel drop in oil prices. The bank’s projections translate the estimated SARS demand impact into 2020 volumes.

While an OPEC supply response could limit the fundamental impact from such a demand shock, the initial uncertainty on the potential scope of the epidemic could lead to a larger price sell-off than fundamentals suggest.”

USD/INR slips from two-week top to 71.20 as Indian markets recover early-day losses

USD/INR declines to 71.20 ahead of the European session on Wednesday. That said, the pair pulls back from a two-week high of 71.44, flashed early-day,
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India’s TradeMin: India working on ways to have fairer, equitable terms in trade relations

Speaking at an event on Wednesday, India’s Commerce and Industry Minister Piyush Goyal said that India is working on ways to have fairer and more equi
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