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SumanSpeaks Capital Markets & Geopolitical Intelligence — Weekend Reading Weekend Reading · Vedic Texts & History One Sage, One Sentence, 2,600 Years of Argument: Yajnavalkya, Beef, and the Śatapatha BrāhmaαΉ‡a The verse that refused to behave: a 2,600-year-old exchange between ritual prohibition, personal preference, and one of the most disputed sentences in Vedic literature. Picture the scene. A newly consecrated priest is about to begin the long, austere discipline that precedes a Soma sacrifice — weeks of restraint, careful diet, ritual purity. The instructors have just spent several sentences building an elaborate cosmological case for why he must never touch cow meat. And then, without warning, the Śatapatha BrāhmaαΉ‡a suddenly records one man's personal response to the rule. That man is the sage Yajnavalkya, and the four words he says next ...
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Oil may breach $150 a barrel on mounting Iran crisis
MUMBAI: Oil, which touched $124 a barrel mark on Friday, appears set to touch a new record and breach the $150 mark on mounting Iran crisis. Analysts feel that the government is holding back from hiking fuel prices because of the ongoing elections and a steep hike is likely next month.
The highest that crude price has gone was $147 a barrel recorded in June 2008.
The Indian crude basket, which is pegged at $122 a barrel at present - its highest in the last nine months - is causing a daily loss of Rs 465 crore to oil companies on their sale of diesel, kerosene and cooking gas as retail prices have not been revised of late.
"Oil has surpassed our forecast price and is now trading at $124 a barrel. It will continue moving north on account of mounting Iran crisis. According to IEA forecast, the world has spare capacity of 3.8 million barrels, of which Saudi Arabia's capacity of 1.8 million barrels is never tested so oil prices will continue to go up unless there is a severe demand destruction," Jal Irani, MD, oil & gas at Macquarie Group told TOI.
He added that it will have severe impact on India as oil accounts for over 40% of India's imports and 80% of trade deficit.
Oil import bill is likely to surpass $142 billion this fiscal according to Prime Minister's economic advisory council (PMEAC).

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