The International Energy Agency (IEA) estimates that South Sudan will not reach its pre-shutdown level atleast till Q4, 2012.

India's arrangement with Iran to use Indian Rupee as a trade currency is now on hold due to a tax issue. Earlier, Iran had agreed to accept Rupees as payments for 45% of its oil exports to India.

MCX natural gas continues its high volatile price swings with the February contract down over 2% in afternoon trade on Monday. The contract opened lower at Rs 123.10 and is trading at Rs 120.90 as of 12:18 PM IST.