Auto Industry News

Brent crude futures for December delivery settled at $93.26 a barrel, down 24 cents, 0.3%, after rising 2% last week. U.S. West Texas Intermediate crude lost $84.58 a barrel, losing 47 cents, 0.6%. Both benchmarks had fallen by $2 a barrel earlier in the session.

Alison-Madueke was a key figure in the administration of former President Goodluck Jonathan who served as petroleum minister from 2010 to 2015. She has been dogged by corruption allegations since she left office but denies the charges.

Figures on Wednesday showed record U.S. crude exports, a hopeful sign for demand, even as crude stocks rose. The U.S. dollar weakened in early trade on hopes that interest-rate hikes may become less aggressive.

Officials said no price range has been decided yet, however one person familiar with the process said the cap will be determined in line with the historical average of $63-64 a barrel - a level that could form a natural upper limit.

Tesla says the cars still need to be driven with human oversight.

Traders were squaring up positions ahead of the weekend after the WTI's November contract expiry, increasing volatility.

The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5 but faced consternation from main players in the global oil industry who feared the move could paralyse the trade worldwide.

The rupee is expected at around a lifetime low of 82.70 per U.S. dollar, down from 82.32 from the previous session.