Crude oil is sliding after Iraq said its exports reached a record high

Tuesday, 10 January 2017 - 13:08

Oil prices tumbled nearly 4 percent on Monday on concern that record Iraqi crude exports and rising U.S. output would undermine OPEC's efforts to curb global oversupply, reports say.

Accordingly U.S. crude futures settled at $51.96 per barrel, down $2.03, or 3.8 percent. That was the weakest daily closing level since Dec. 16.

Brent crude futures were down $2.22, or 3.9 percent, at $54.88 a barrel at 2:35 p.m. ET (1912 GMT), near the lows of the day.

Capsicum cultivations in Wellawaya colony ruined
Wednesday, 15 July 2020 - 15:09

Capsicum cultivators in Thelulla Colony in Wellawaya say their crops have ruined due to an outbreak of disease.This has left them in economic hardships.They... Read More

Dialog Axiata pays homage by publishing Amarapura Maha Nikaya Temples directory
Wednesday, 15 July 2020 - 12:24

The commemoration ceremony of founding Theros of Sri Lanka Amarapura Maha Nikaya who rendered a noble service for the Sambuddha Sasanaya during the past... Read More

Provisions from the Treasury for the purchase of paddy harvest during the Yala season
Tuesday, 14 July 2020 - 23:37

The Treasury has released finances for the purchase of paddy harvest at a guaranteed price during the Yala season this year.The Ministry of Finance, Economic... Read More