Oil prices were under pressure on Monday due to doubts that large oil producers will reduce production as promised and on expectations that U.S. production would increase again this year. SEE MORE The MCX February gold contract is quoting Rs 510, or 1.8 per cent, lower than the spot market in Mumbai’s Zaveri Bazaar’s Friday closing price of Rs 28,890 per 10 gm on expectations of an import duty cut. SEE MORE The Ministry of Finance has proposed, in a draft law, to almost triple the environmental protection tax on oil and gas consumption from the current VNĐ3,000 (US$0.13) to VNĐ8,000 per litre. SEE MORE Fertiliser stocks which suffered a dismal 2016 are expected to rebound this year given long-term rising demand as well as global price hikes, according to industry estimates. SEE MORE The above increase — linked mainly to rising global crude oil prices, which have also made synthetic substitutes such as styrene butadiene rubber more expensive — has cheered growers here. SEE MORE