
一 | New York-traded West Texas Intermediate (WTI) settled down 97 cents, or almost 1%, at $98.53. The intraday low was $95.17, a bottom not seen since the week ended April 8. In just two sessions, the US crude benchmark had lost almost $15 or 14%.,Citigroup says WTI could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits.,London-traded Brent crude, settled at $100.69, down $2.08 or 2.02%. Earlier, it broke below the $100 mark the first time since April 25, hitting a session low of $98.59. Like WTI, Brent has also lost almost $15, or 13%, over two days of trading.,West May Use Proposed Russian Oil Price Cap Scheme for Gas Price, Von Der Leyen SaysYesterday, 12:20 GMT,A cluster of economic data of late has suggested that the United States may be headed for an economic slowdown - possibly a recession - as the Federal Reserve embarks on the most aggressive rate hikes in a generation to tame inflation roaring at 40-year highs.,A closely-watched gauge of the US services sector fell to its lowest in 20 months in June.,Separately, the US Labor Department signaled that the red-hot labor market may be starting to cool. Job openings, as measured by its monthly survey, fell in May, to a level of 11.254 million that is still high by historical comparison.,The job openings data came ahead of Friday’s more important June non-farm payrolls report, which is expected to show a smaller jobs growth compared with May. Economists say some 268,000 payrolls were probably added last month - versus the 390,000 in May - holding unemployment at 3.6% for a third straight month. A jobless rate of 4% or below is seen by the Federal Reserve as full employment.,“While our view remains that higher consumer prices are required to balance the oil market this summer, we acknowledge that significant and large shocks continue to distort fundamentals,” Goldman Sachs said in an energy market outlook.,Blockage of Russian Bond Payments to Erode Dollar Dominance, French Economist Says27 June, 15:29 GMT,A rocketing dollar ahead of more rate hikes by the Federal Reserve, or Fed, has also shaken the roots of the energy rally seen since the start of the Russia-Ukraine conflict in February and the resulting sanctions on Moscow.,The Dollar Index, which pits the greenback against six major currencies, continued its ascent from overnight, leaping to above 107, its highest since December 2002. The dollar has rallied with few stops since November last year on bets of aggressive rate hikes by the Federal Reserve, or Fed, which has just started delivering on those expectations.,The drone of recession talk is expected to get louder across the United States after the Atlanta division of the Federal Reserve forecast last week a second straight quarter of economic decline for the year. The Commerce Department officially reported a 1.6% economic contraction in the first quarter.,The Federal Reserve, in minutes of its June policy meeting released on Wednesday, said it saw a real danger of high inflation becoming entrenched in the US economy and the only way to balance runaway prices with growth was to have appropriate interest rate hikes.,The central bank is expected to push ahead with another three-quarter percentage point interest rates hike this month, potentially taking key lending rates to between 2.25% and 2.5% range from the 0 - 0.25% range they stood at in February.。 Shah Rukh Khan's Red Chillies Entertainment has responded to Sameer Wankhede's defamation suit over a scene in Aryan Khan's show The Ba***ds of Bollywood. They claimed that while the show depicts an overzealous officer, it does not reference the Cordelia cruise case. IRS officer Sameer Wankhede pleaded in the Delhi High Court seeking an interim injunction on Aryan Khan's series. Responding to Wankhede's claims, senior advocate Neeraj Kishan Kaul, appearing for Red Chillies said that satire and fiction can co-exist. "Can satire and fiction co-exist? There is no law that it cannot co-exist. I may be partly inspired by real persons and stories, yet there can be disclaimers, no problem with two existing together. Where is the ill-will or malice? This is about a success story in a Bollywood party. We are not looking at people who are sensitive; hurt is not ground for malice. Can you pick a stray instance, a passage here or there? The series is about 20 different issues. We do not show a documentary on the Cordelia cruise incident. I am inspired by overzealous officers. That is far from saying that this is the Cordelia cruise story." For the uninitiated, in 2021, Wankhede who was with the Narcotics Control Bureau, arrested Aryan Khan from the Cordellia cruise over a drugs case. However, Khan's name was cleared later, and he was released from jail. In his show, there is a scene where an inspector from a fictional anti-narcotics agency arrests an actor over a false drug case. Wankhede argued that the officer shown in the show resembles him and urged that the scene should be removed from the show. Taking a dig at Wankhede, advocate Kaul also argued that Wankhede loves giving interviews to the media and spoke about the issues after the show released. He continued, "You cannot say that the person depicting ills in Bollywood cannot show overzealous officers. I cannot be responsible for what other people say… I am fully entitled to depict issues ailing Bollywood. Even if I am to project someone, a public official cannot be that thin-skinned. Even if I portray you unjustly it is still not a case. Every scene in this show is exaggerated. I am not ridiculing him or the emblem. I am talking about officials who have lofty idea." Wankhede sued Red Chillies, Netflix and Aryan Khan for defamation. The next hearing on this case is on Thursday. Also Read: ’Not Without Bias’- Delhi High Court Pulls Up Red Chillies Over Sameer Wankhede’s Defamation Case。
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