The Hindu Editorial (Futures shock) – Apr 22, 2020
Five decades after the oil shock of 1973, when an Arab embargo on the supply of oil to some western powers including the United States… For further reading, visit “The Hindu”. Below is today’s word list-2 for The Hindu Editorial (Futures shock) – Apr 22, 2020.
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Today’s word list-2 for The Hindu Editorial (Futures shock) – Apr 22, 2020:
- futures (contract) (noun) – an agreement to buy or sell an asset at a future date at an agreed-upon price.
- shock (noun) – disturbance causing volatility/uncertainty in an economy.
- futures shock (noun) – the inability to cope with the rapid social or technological changes of modern society, or the distress resulting from this.
- steep (adjective) – sharp, sudden, rapid.
- oil shock (noun) – a sudden rise in the price of oil. It is also called as oil crisis. (during oil shock in 1973, the price increased by 400%).
- embargo (noun) – ban/bar, restriction, prohibition, stoppage (official one).
- skyrocket (verb) – (of a price or rate) rise, increase, very abruptly or quickly; surge, mushroom, snowball.
- fourfold (adjective) – four times as great (in number, price, value).
- free-fall (noun) – sudden decline of something; relating to something declining rapidly.
- plunge (verb) – fall/drop, plummet, tumble, nosedive suddenly & uncontrollably.
- imply (verb) – say indirectly, suggest, hint.
- hold (verb) – keep, put aside, set aside (as a stock/reserve).
- unprecedented (adjective) – not done or experienced before.
- plunge (noun) – fall, drop, tumble, slump.
- explain away (phrasal verb) – to dismiss/minimize the importance of something (a problem, etc,.) by explanation.
- anomaly (noun) – something different, abnormal, unusual; oddity, peculiarity, deviation, aberration, exception.
- desperately (adverb) – seriously/urgently, pressingly, intensely.
- perfect storm (phrase) – a rare combination of events/circumstances creating a bad situation unexpectedly.
- glut (noun) – it is a market situation where the supply of a good or service far exceeds its demand, usually resulting in a substantial fall in its price.
- exacerbate (verb) – make worse, worsen, aggravate, compound.
- ramp up (phrasal verb) – increase.
- contract (verb) – decrease, decline, reduce.
- on account of (phrase) – because of, owing to/due to, by virtue of.
- COVID-19 (noun) – coronavirus disease 2019.
- outbreak (noun) – sudden appearance/occurrence (of a disease); outburst, epidemic.
- slide (noun) – fall, decline, slump/tumble.
- Brent crude (noun) – a classification of crude oil produced from the oil platform in the North Sea.
- confinement (noun) – the state of being confined in a place (house); restraint, quarantine, lockdown.
- institute (verb) – establish, put in place.
- offshore (noun) – registered/situated at foreign country to take advantage of lower taxes or less regulation.
- supertanker (noun) – a very large oil tanker with a deadweight capacity of over 75000 tons.
- curtail (verb) – reduce, diminish, decrease.
- strike (verb) – agree on, settle on, sign; arrive at, achieve.
- merely (adverb) – only, simply, just.
- tap (noun) – valve, spout.
- notch (noun) – degree, step, level, grade. “a notch or two” means to “one or two step/level/degree”.
- redress (verb) – set right, rectify, regulate/regularize.
- prudently (adverb) – carefully, cautiously; sensibly.
- accelerate (verb) – increase, rise/surge, speed up.
- build-up (noun) – development, accumulation.
- strategic reserve (noun) – the reserve of a commodity (e.g. oil) that is held back from normal use by government/organisation to cope with unexpected events.
- pare (verb) – reduce, diminish, cut down, lessen.
- protracted (adjective) – very long, long-lasting, prolonged/extensive.
- drought (noun) – shortage, scarcity, deficiency.
- end up (phrasal verb) – come/appear, find oneself (to a particular course of action in the end).
- garner (verb) – gather, collect, accumulate, amass.
- rock-bottom (adjective) – cheap, low-priced, low-cost.
- inward remittance (noun) – a transfer of funds by a person outside the country (abroad), to a beneficiary account inside the country.
- ought to (modal verb) – must, should.
- forego (verb) – waive, abandon, relinquish, sacrifice.
- tease back momentum (phrase) – to gently encourage economic growth.
1. Click each one of the words above for their definition, more synonyms, pronunciation, example sentences, phrases, derivatives, origin and etc from http://www.oxforddictionaries.com/.
2. Definitions (elementary level) & Synonyms provided for the words above are my personal work and not that of Oxford University Press. Tentative definitions/meanings are provided for study purpose only and they may vary in different context.
3. This word list is for personal use only. Reproduction in any format and/or Commercial use of it is/are strictly prohibited.
Today’s word list-2 The Hindu Editorial (Futures shock) – Apr 22, 2020: