US President Donald Trump on Monday said he will be taking \"major\" steps to gird the US economy against the impact of the spreading coronavirus outbreak and will discuss a payroll tax cut with congressional Republicans on Tuesday

Saudi Arabia reportedly prepares to increase its crude production above 10 million barrels per day (bpd) in April, after the current deal to curb production expires at the end of March

The forecast comes on a day when Brent crude prices have fallen by 30 per cent as Saudi Arabia, world's largest crude producer, decided to hike production from its oil fields

Within minutes of opening today, equity benchmarks plummeted over 3.5% each, led by major volatility in global markets

Mukesh Ambani posted a $5.6 billion decline in wealth in a day as global markets continued to fall over coronavirus fears and Reliance Industries' shares took a hit due to recent developments

BPCL share price gained 12.72% or 51.25 points to Rs 454.10 compared to the previous close of Rs 402.85 on BSE

Share Market update: Sensex closes 1,941 points or 5.17% lower at 35,634, Nifty falls 5% to 10,451.

Saudi Arabia has opened the war by cutting its official selling prices for April for all crude grades to all destinations by between $6 to $8 a barrel

Coronavirus impact: Markets are fully priced for at least a half-point rate cut from the Federal Reserve at its scheduled policy meeting on March 18, following last week's emergency easing, and a move toward zero not long after

Today, Sensex has made a low of 37,011.09, erasing 1,459 points against its previous close of 38,470 and Nifty fell to 10,827.40, declining 441 points from 11,269, its close of Thursday. 

The virus, which originated in Wuhan, China has infected nearly 98,000 people and killed over 3,300

Share Market Update: Sensex sank 893 points to end at 37,576, while Nifty plunged 289 points to close at 10,979

Coronavirus impact: Oil ministers from the group's 14 countries were gathering in Vienna on March 5 as energy producers were taking a hit from a 25 percent slide in crude prices since January

Oil prices also declined by 2.4% to US$ 55 per barrel earlier in the day. Later the benchmark hit its fresh 52 Week low today of $52.53 and fell further down to $51.32 mark

Venezuelan exports declined sharply in early 2019, but have since ticked back up to roughly 1 million bpd, as several oil companies resumed marketing or buying the country's oil

Brent crude fell 44 cents to $68.47 a barrel while US West Texas Intermediate (WTI) crude was at $62.86 a barrel, down 41 cents

Gains extended Friday's more-than-3% surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani; the killing has heightened concerns of a widening Middle East conflict that could disrupt oil supplies from a region that accounts for nearly half of the world's oil production

Share Market Update: Domestic indices followed global markets that traded in the negative on Monday amid escalation in tensions in the Middle East

Looking ahead, US crude inventories are expected to fall by about 3.2 million barrels in the week to December 27, heading for a third consecutive weekly fall

India, the world's third-biggest oil importer, shipped in 4.56 million barrels per day (bpd) of oil in October, about 3.3% less compared with a year ago, data showed