Brent crude futures for August dipped 9 cents to $123.49 a barrel at 0853 GMT, while US West Texas Intermediate crude for July was at $121.89 a barrel, down 22 cents.
The comments serve as an acknowledgment that last week's decision by the OPEC+ coalition to bolster output will give consumers little respite from the soaring cost of energy this summer
Chip stocks tumble after Citi sounds alarm on Intel; the energy sector was among the few gainers with a rise of 0.8%, thanks to a jump in Brent crude prices to above $123 a barrel
US West Texas Intermediate (WTI) crude futures were down 25 cents, or 0.2%, at $118.25 a barrel, having risen by over $1 per barrel earlier in the session.
Brent crude futures were up 28 cents, or 0.2%, at $119.79 barrel at 0601 GMT
. Brent crude firmed 68 cents, or 0.6%, to $120.40 a barrel at 0640 GMT after touching an intraday high of $121.95
CLOSING BELL: The Nifty IT index was the only gainer, up 0.45 per cent
Brent crude was down $2.07, or 1.8%, at $114.22 a barrel at 0649 GMT, having risen 0.6% the previous day.
CLOSING BELL: Reliance Industries (RIL) was the biggest contributor, accounting for over 65 per cent of today's gains, as its shares surged 3.6 per cent
Brent crude was up $1.83, or 1.6%, at $117.46 a barrel as of 11:56 a.m. EDT (1556 GMT). U.S. West Texas Intermediate crude gained $1.77, or 1.6%, to $116.45.
CLOSING BELL: The Nifty50 index shut shop at 16,523, down 62 points or 0.37 per cent
Energy outperformed with a 1.1% gain as Brent crude climbed above $120 a barrel
CLOSING BELL: Sun Pharma, Kotak Bank, HDFC, SBI, Reliance Industries, Shree Cement, and HDFC Life fell up to 3.5 per cent.
The Brent crude futures contract for July, which will expire on Tuesday, was up 59 cents, or 0.5%, at $120.02 a barrel at 1100 GMT.
Brent crude futures gained 46 cents, or 0.4%, to $119.89 a barrel at 0111 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped 60 cents, or 0.5%, to $115.67 a barrel
Oil prices hovered around a two-month high supported by the prospect of an EU ban on Russian oil and the coming summer driving season in the US
In the Sensex pack, Tech Mahindra, Hindustan Unilever, HCL Technologies, Asian Paints, NTPC, Tata Steel, Infosys, Axis Bank, and Bajaj Finserv were among the biggest laggards
Brent crude futures were up 35 cents, or 0.3%, to $112.92 a barrel by 11:24 a.m. ET (1524 GMT). U.S. West Texas Intermediate (WTI) crude was up 5 cents, or 0.05%, at $110.32.
Brent crude futures rose 82 cents to $113.37 a barrel at 0126 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 69 cents
In the primary market, Venus Pipes & Tubes IPO was subscribed 2 times on Day 1 of the offer period; Delhivery IPO was off to a slow start.