Pakistan to honour Saudi crown prince after $20bn deals

Jun 15: Oil prices fell on Monday, with U.S. oil dropping more than 2%, as a spike in new coronavirus cases in the United States raised concerns over a second wave of the virus which would weigh on the pace of fuel demand recovery.

Brent crude futures fell 66 cents, or 1.7%, at $38.07 a barrel as of 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 81 cents, or 2.2%, to $35.45 a barrel.

Both benchmarks ended down about 8% last week, their first weekly declines since April, hit by the U.S. coronavirus concerns: More than 25,000 new cases were reported on Saturday alone as more states, including Florida and Texas, reported record new infection highs.

"Concerns about the recent uptick in COVID-19 infections in the U.S. and a potential 'second wave' are weighing on oil at the moment," said Stephen Innes, chief global market strategist at AxiCorp.

Meanwhile, an OPEC-led monitoring panel will meet on Thursday to discuss ongoing record production cuts to see whether countries have delivered their share of the reductions, but will not make any decision, according to five OPEC+ sources.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, have been reducing supplies by 9.7 million barrels per day (bpd), about 10% of pre-pandemic demand, and agreed in early June to extend the cuts for a month until end-July.

Iraq, one of the laggards in complying with the curbs, agreed with its major oil companies to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.

Washington, Jul 5: US President Donald Trump on Saturday thanked Prime Minister Narendra Modi for his wishes on America's 244th Independence Day.

On Saturday, PM Modi tweeted: "I congratulate @POTUS @realDonaldTrump and the people of the USA on the 244th Independence Day of the USA. As the world's largest democracies, we cherish freedom and human enterprise that this day celebrates. @WhiteHouse"

While replying to PM Modi's wishes, Mr Trump tweeted: "Thank you my friend. America loves India!"

The US President also attended the July 4 American Independence Day celebrations in South Dakota.

New Delhi, Jun 5: On World Environment Day, Prime Minister Narendra Modi on Friday urged citizens to ensure that the flora and fauna thrive and take a pledge to preserve our planet's rich biodiversity.

"On #WorldEnvironmentDay, we reiterate our pledge to preserve our planet's rich biodiversity. Let us collectively do whatever possible to ensure the flora and fauna with whom we share the Earth thrive. May we leave an even better planet for the coming generations," the Prime Minister tweeted.

He also shared a clip from his last 'Mann Ki Baat' programme where he mentioned about conservation of rainwater and protecting the rich diversity of nature.

"On June 5, the entire world will celebrate 'World Environment Day'. The theme for this year's 'World Environment Day' is bio-diversity. This theme is especially pertinent in the current circumstances. During lockdown in the last few weeks the pace of life may have slowed down a bit but it has also given us an opportunity to introspect upon the rich diversity of nature or biodiversity around us," the Prime Minister had said.

"Much of the avian fauna had sort of disappeared due to sound and air pollution, and now after years people can once again listen to their melodic chirping in their homes," he said.

The Prime Minister also said that water conservation, in particular the conservation of rainwater, is essential and exhorted everyone to strive for saving rainwater in the upcoming monsoons.