Page 39 - Crude Oil Price

Saudi Arabia raises July flagship crude price for Asia to 6-month high

The official selling price (OSP) for July-loading Arab Light to Asia was increased by 45 cents a barrel from June to $3.00 a barrel over Oman/Dubai quotes

Oil prices rise on Saudi Arabia plan to deepen output cuts from July

OPEC+ meeting and Saudi cuts could boost prices, say analysts

Sensex climbs 240pts, Nifty ends near 18,600 on firm global cues; M&M up 4%

Stock market live updates: The SGX Nifty, on Monday, eyed a steady start amidst positive global cues as it rose over 50 points to 18,717 levels

India's import of discounted Russian crude hits all-time high in May

Russian oil supplies exceeded the combined shipments of the next six biggest shippers, including Iraq, Saudi Arabia, Mexico, UAE, Kuwait and the US in May

Sensex zooms 629 pts, Nifty ends at 18,500; RIL, Sun Pharma jump up to 3%

Stock market live updates: The SGX Nifty, on Friday, indicated a muted open for benchmark indices as it stood around 18,423 levels, down 43-odd points, amidst mixed sentiments across global markets

Nifty ends May F&O series above 18,300; Sensex gains 99 points

Stock market live updates: The SGX Nifty, on Thursday, signaled at negative start for the bourses as it stood around 18,270 levels, down 14-odd points

Sensex drops 208 pts, Nifty below 18,300; metal, financial stocks weak

CLOSING BELL: Adani Enterprises fell over 6 per cent, while Adani Ports, Tata Motors, HDFC, HDFC Bank, ICICI Bank, Reliance Industries, HUL, and Asian Paints declined up to 2 per cent

Sensex, Nifty end flat; Adani shares rally for 3rd day, SpiceJet sinks 14%

Stock market live updates: The SGX Nifty, on Tuesday, indicated a firm start as it quoted 18,359 levels, up 24-odd points

Refinery rejig: Why is India steadily raising petrochemicals capacity

Estimates for the sector are bullish for a decade but it is not an easy business to run, say experts

IT stocks spark 234-pt rally in Sensex; Nifty tops 18,300; Adani Ent up 20%

Stock market live updates: The SGX Nifty, on Monday, signalled a muted start as it stood at 18,211 levels, down 28-odd points

Berger Paints expects better margin with drop in input costs: Official

Berger Paints is expecting an improvement in margin with a decline in input costs mainly due to falling crude oil prices, and also weighing a modest increase in rebates during the current fiscal to boost sales, a top company official said. Despite the expected rise in rebates, the paint maker remains confident in its ability to maintain a healthy growth trajectory, aiming at an EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin of 16-17 per cent in the 2023-24 financial year, its managing director and CEO Abhijit Roy said. "While we have witnessed a decline in input costs due to the reduction in crude prices, the competitive nature of the industry may lead to a slight increase in rebates. "Nevertheless, this increase will not be significant as it aligns with the pricing levels we experienced prior to the COVID-19 pandemic," Roy told investors in an analysts' meeting. The company also does not foresee any dent in demand in the current fiscal, he ...

Pakistan may pay for discounted Russian crude in Chinese currency: Report

Pakistan may use Chinese Yuan to pay for the 750,000 barrels of discounted Russian crude oil set to be imported in June, a media report said on Thursday, as the cash-strapped country struggles with high external debts. Pakistan placed its first order for discounted Russian crude oil last month, a decision expected to provide some relief to the people already hit by skyrocketing inflation. Pakistan will pay the price of crude most probably in China's currencyYuan and the Bank of China may play its role for transactions, a senior official of the Energy Ministry told The News International newspaper. However, the official refused to divulge the fine details about the mode of payment and the discount, stressing that it was not in the country's interest. Russia also does not want to disclose the details, fearing backlash from the other countries buying oil directly from Moscow, the official said. Russia will provide URAL crude in the test cargo, and most probably, Pakistan Refinery Limi

Saudi Arabia cuts oil prices in Asia markets as energy market weakens

Aramco sells about 60% of its crude shipments to Asia, most of them under long-term contracts, pricing for which is reviewed each month

Global economic uncertainty means higher oil prices; forecasts unreliable

The economic outlook and Chinese consumption growth are key to demand expectations, while Russia is the wild card in terms of supply

India's crude steel output grows 4% to over 125 MT in FY23: SteelMint

India's crude steel production rose by 4.18 per cent to 125.32 million tonnes (MT) in 2022-23, according to research firm SteelMint. In the preceding 2021-22 fiscal, the country produced 120.29 MT of steel, the research firm stated. The production of finished steel was 121.29 MT, up 6.77 per cent from 113.60 MT a year ago. Domestic consumption of steel rose by 12.69 per cent to 119.17 MT against 105.75 MT in 2021-22. A SteelMint analyst attributed increasing infrastructure activities to higher production and consumption of steel in India. Steel exports fell by 50 per cent to 6.72 MT from 13.49 MT a year ago. Imports surged about 29 per cent to 6.02 MT in FY23 from 4.67 MT in 2021-22. The production of pig iron was at 5.85 MT in FY23, down 6.53 per cent from 6.26 MT in the preceding year.

Oil prices extend losses on fears of recession, slower oil demand

Oil prices eased on Friday, extending losses from the two previous days and heading for a weekly decline, as softening U.S. economic data and a rise in US gasoline inventories raised concerns about

India reimposes windfall tax on crude oil, levy on diesel exports scrapped

Latest move to reimpose windfall tax on crude oil means that now only domestically produced crude oil will attract a windfall tax of Rs 6,400 per tonne while petrol, diesel and ATF will remain exempt

Bull run enters 9th day for benchmarks; IT shares crack; AU SFB soars 17%

CLOSING BELL: IDBI Bank shares, too, surged 10 per cent after a Reuters report said the RBI has begun evaluating at least five potential bidders interested in picking up a majority stake in the lender

Sensex rises 235 pts, Nifty tops 17,800 in fag-end; Divis Labs zooms 10%

CLOSING BELL: Among sectors, the Nifty Pharma index leaped over 2 per cent today as India saw over 7,000 fresh cases of Covid-19

Oil steady after surprise build in US crude stocks offset supply concerns

Oil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories, offsetting concerns about tightening supply