Rupee slips 14 paise to 75.04 against U.S. dollar in early trade

Oil Futures Settle Higher After Data Shows Drop In Crude Stockpiles

Crude oil prices climbed higher on Wednesday after data showed a drop in U.S. crude inventories in the week ended October 15.

Increased demand for oil due to the ongoing energy crunch in several countries including China contributed as well to the uptick in oil prices.

Plunging temperatures across parts of China stoked fears that shortages in power are likely to increase over the coming northern hemisphere winter.

Saudi Arabia’s energy minister said users switching from gas to oil could account for demand of 500,000 – 600,000 barrels per day.

West Texas Intermediate Crude oil futures for December ended up by $0.98 or about 1.2% at $83.42 a barrel.

WTI crude futures for November settled at $83.87 a barrel on the expiration day, gaining $0.91 or 1.1%.

Brent crude futures were up $0.61 or 0.72% at $85.69 a little while ago.

Data from the U.S. Energy Information Administration (EIA) this morning showed U.S. crude stockpiles dropped by 431,000 barrels last week, against expectations for an increase.

The data said gaeoline stockpiles declined by over 5.37 million barrels in the week, while distillate stocks dropped by 3.91 million barrels.

The EIA data also said inventories at the Cushing, Oklahoma delivery hub dropped to the lowest level in three years.

‘Succession’ Recap Season 3, Episode 2: ‘Judasing’

Kendall makes his pitch. Even with his siblings, he sounds like a guest on “Power Lunch.”

By Noel Murray

WeWork Gains 17% After Public Listing

WeWork Inc. (WE) shares are rising more than 15 percent on Friday morning after public listing on Thursday, completing a $9 billion merger with special purpose acquisition company BowX Acquisition Corp. (BOWX).

The stock debuted at $11.28 and closed at $11.78 on a volume of 11,619,700. Today morning the shares opened at $13.35 and have been on an uptrend.

Currently, shares are at $13.67, up 15.87 percent from the previous close of $11.78 on a volume of 5,684,032. For the 52-week period, the shares have traded in a range of $8.85-$14.97 on average volume of 839,200.

Boris Johnson works from home: why can’t we?

The benefits of home-based work are indisputable. The government can’t keep ignoring it, says Dr Frances Holliss

Last modified on Sun 24 Oct 2021 13.34 EDT

Your article (Why is it business as usual in England while Covid infections rise?, 20 October) says Boris Johnson is “temperamentally opposed to working from home”. What nonsense! Johnson does work from home. Prime ministers – including Margaret Thatcher, who was born above her parents’ grocery shop – have often pointed out that they and the chancellor “live above the shop”. The question is, why doesn’t Johnson want the rest of the working population to share the benefits of this close relationship between home and workplace? Surely it couldn’t simply be to prop up the bar/cafe and commercial property sectors?

Home-based work, while neither possible nor desirable for some, is a popular, family-friendly working practice that has widespread social, economic and environmental benefits. This government needs to harness these by facilitating home-based work for anyone who wants it, rather than attempting to shut this unique opportunity down for the sake of a small but vocal sector of the economy. This is a paradigm shift – businesses need to pivot to embrace it.
Dr Frances Holliss
Workhome Project, London Metropolitan University

Have an opinion on anything you’ve read in the Guardian today? Please email us your letter and it will be considered for publication.

‘Insecure’ Season 5, Episode 1 Recap: No Time to Be Insecure

The characters of “Insecure” set off to close out their final season with intention.

By Sandra E. Garcia

What’s on TV This Week: ‘Great Performances’ and ‘In the Heights’

PBS’s “Great Performances” debuts a Halloween-themed episode. And “In the Heights” airs on HBO.

By Gabe Cohn

‘Succession’ Recap, Season 3, Episode 2: ‘Judasing’

Kendall makes his pitch. Even with his siblings, he sounds like a guest on “Power Lunch.”

By Noel Murray

Rupee slips 14 paise to 75.04 against U.S. dollar in early trade

On October 22, the rupee had closed at 74.90 against the U.S. dollar

The Indian rupee depreciated 14 paise to 75.04 against the U.S. dollar in opening trade on October 25, weighed down firm crude oil prices and a muted trend in domestic equities.

At the interbank foreign exchange, the rupee opened on a weak note at 74.98, then fell further to 75.04, registering a decline of 14 paise from the last close.

On October 22, the rupee had closed at 74.90 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12% to 93.53.

Global oil benchmark Brent crude futures advanced 0.80% to $86.21 per barrel.

Moreover, foreign institutional investors were net sellers in the capital market on October 22 as they offloaded shares worth ₹2,697.70 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 229.08 points or 0.38% lower at 60,592.54, while the broader NSE Nifty was trading 98.55 points or 0.54% lower at 18,016.35.