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Crude prices fall further with Iran n-deal

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New Delhi, As Iran and the six world powers reached a nuclear agreement by their deadline, crude oil prices fell further on Tuesday, pulled down by prospects of easing of sanctions imposed on the Persian Gulf nation.2695927_25f451ea

London Brent crude dropped to $56.96 a barrel of nearly 160 liters, while US crude was trading down at $51.12. The Indian basket crude oil traded on Monday, the deadline for the nuclear deal, at $57.19 per barrel.

The Indian basket had fallen last Tuesday to $56 a barrel, as China’s stock market-plunged and the Greek crisis revived the specter of weaker economic growth that could impact oil demand.

China’s economic growth in the second quarter is forecast to be the weakest since the 2008-2009 global financial crisis.

The International Energy Agency said last week that Iran has at least 17 million barrels of crude oil stored and ready to be shipped.

“Iran would seek to increase its oil exports to the global market if a nuclear deal is reached and the western sanctions are lifted,” Iranian Oil Minister Bijan Zangeneh said recently.

He said Iran can restore its production of one million barrels per day fairly quickly, which supply can hit the market in less than six months.

This would add to output from the Organization of Petroleum Exporting Countries (OPEC) whose production levels are already at a three-year high, at a time when the market remains quite over supplied.

OPEC released its monthly oil market report on Monday, with Saudi Arabia reporting a record crude oil production of 10.6 million barrels per day (bpd) in June, an increase of more than 200,000 bpd on the previous month.

Stable crude oil prices in the international markets would help India manage its macro-economy well, chief economic adviser Arvind Subramanian has said.

“I do not see oil prices going beyond $80-85 a barrel (about 160 liters), given the fundamental changes in the market. If oil prices remain steady even at that ($80-85) level, I think we can manage the economy well,” Subramanian said at a lecture late last month at the Bangalore International Center.

“Besides decline in our oil import bill, we have seen fundamental shifts in the international market, which has helped crude oil prices remain steady,” he said.

(IANS)

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Facebook Removes Pages, Fake Accounts Linked to Iran

Facebook said about 1.02 million accounts followed at least one of these Pages, about 25,000 accounts joined at least one of these Groups, and more than 28,000 accounts followed at least one of these Instagram accounts

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This photo shows the logo for Facebook on screens at the Nasdaq MarketSite, in New York's Times Square. VOA

Facebook has removed 82 Pages, Groups and accounts for what it calls “coordinated inauthentic behaviour” that originated in Iran and targeted people in the US and Britain.

“While we have found no ties to the Iranian government, we can’t say for sure who is responsible,” Nathaniel Gleicher, Head of Cybersecurity Policy at Facebook said in a statement on Friday.

The people behind these Pages and accounts represented themselves as US citizens, or in a few cases UK citizens — and they posted about politically charged topics such as race relations, opposition to the US President, and immigration on Facebook and Instagram.

Facebook said its threat intelligence team first detected this activity one week ago and conducted an internal investigation.

“Despite attempts to hide their true identities, a manual review of these accounts linked their activity to Iran,” Gleicher said.

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Facebook removes dozens of Iran-linked fake accounts, Pages.. Pixabay

The activities on Facebook were revealed just weeks before the midterm election in the US and while a heated Brexit debate continues in Britain.

“Given the elections, we took action as soon as we’d completed our initial investigation and shared the information with US and UK government officials, US law enforcement, Congress, other technology companies and the Atlantic Council’s Digital Forensic Research Lab,” Gleicher said.

Also Read- Actress Swara Bhaskar Says “Sexual Harassment Cases at Workplace Are Like an Epidemic”

Facebook said about 1.02 million accounts followed at least one of these Pages, about 25,000 accounts joined at least one of these Groups, and more than 28,000 accounts followed at least one of these Instagram accounts.

This is not the first time Facebook has removed Pages and accounts linked to Iran. In August, the social network removed 600 Pages and accounts originating from Russia and Iran for engaging in “inauthentic behaviour”. (IANS)