Brent crude futures ticked up 5 cents, or 0.07 per cent to $74.79 a barrel at 1003 GMT, while US West Texas Intermediate crude was up 8 cents, or 0.11 per cent at $70.82 a barrel
For the week, Brent was set to gain about 0.5 per cent and WTI was up about 0.01 per cent
Brent futures were down 77 cents or 1 per cent at $76.23 a barrel by 1230 GMT, while US West Texas Intermediate (WTI) crude dropped 88 cents or 1.20 per cent to $72.44 a barrel
Union Oil Minister Hardeep Singh Puri made the statement during a panel session on the inaugural day of the four-day India Energy Week 2025
The Reserve Bank of India may cut the benchmark repo rate by 25 basis points to 6.25 per cent later in the day
Trump on Thursday repeated a pledge to boost US oil production in order to lower commodity prices, saying the country will produce more oil than anyone has ever seen before
In the previous session, Sensex dropped 312.53 points, or 0.40 per cent, to close at 78,271.28, while Nifty50 ended lower by 42.95 points, or 0.18 per cent, at 23,696.30
Oil price today: Crude oil prices clocked the biggest intraday rally in four months on Monday, driven on the news of 10 per cent tariffs imposed by Whitehouse on Canadian crude oil and products
Gasoline pump prices in the US are certainly expected to rise with the loss of crude for refineries and the loss of imported products, said Mukesh Sahdev at Rystad Energy
Trump will include a process for Canada and Mexico to seek specific exemptions for certain imports, adding that new tariffs would become effective on March 1
Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier
Supply concerns eased after Libya's National Oil Corp said on Tuesday export activity was running normally after it held talks with protesters demanding a halt of loadings at one its main oil ports
Brent crude oil futures were up by 35 cents, or 0.45 per cent, to $77.43 per barrel by 0930 GMT. US West Texas Intermediate crude futures were up 30 cents, or 0.41 per cent, to $73.47
Russian refining runs rose by 2 per cent, or by 108,000 barrels, to 754,800 metric tons a day on Jan 15-19 from the first week of the year, according to the sources
Opec and its allies including Russia have yet to react to Trump's call, with Opec+ delegates pointing to a plan already in place to start raising oil output from April
In the previous session, the Sensex declined 329.92 points, or 0.43 per cent to 76,190.46. Similarly, the Nifty50 ended the day 113.15 points, or 0.49 per cent, lower at 23,092.20
Chairman also expected that the Union Budget would give relief on compression charges on CNG and some steps are taken to bring natural gas under the GST coverage
Brent crude futures dipped 2 cents to $78.98 a barrel by 0941 GMT. US West Texas Intermediate crude (WTI) lost 4 cents to $75.40
oil market is expected to be oversupplied this year, after weak economic activity and energy transition efforts weighed heavily on demand in top-consuming nations the United States and China
The rupee appreciated 5 paise to close at 86.55 (provisional) against the US dollar on Monday, as an overnight decline in crude oil prices and the US dollar index supported investor sentiments. Besides, a positive trend in domestic equities also helped the local currency, Forex traders said the rupee is likely to trade within a volatile range of 86.20-86.80 ahead of key events in the global and domestic economic landscape. At the interbank foreign exchange, the rupee opened on a strong note at 86.48 against the greenback. During the day, the local unit touched an intraday high of 86.46 and a low of 86.57. It finally closed at 86.55 (provisional), a rise of 5 paise against the US dollar. In the previous session on Friday, the rupee settled at 86.60. According to Anuj Choudhary Research Analyst at Mirae Asset Sharekhan, the rupee strengthened against the greenback on the weak tone in the US Dollar index and positive domestic markets. Overnight decline in crude oil prices also supp