Page 17 - Crude Oil Price

Crude oil prices drop by 21% since March, but fuel costs continue to sting

With inflation easing and elections around the corner, speculation is growing that petrol could become cheaper by Rs 10 per litre and diesel by Rs 6-8 per litre

Oil prices rise almost 2% on fears over hurricane impact on US output

On Thursday the International Energy Agency (IEA) cut its 2024 oil demand growth forecast by 70,000 bpd, or about 7.2 per cent, to 900,000 bpd, citing muted Chinese demand

5 stocks to buy and sell as crude oil prices drop to $70 a barrel

Here's a technical outlook on stocks linked to crude oil prices, which is down 23% from its peak and trades near 3-year lows. Among stocks, Asian Paints and MRF look favourable on charts; here's why.

How to trade oil futures amid weak demand, Hurricane Francine? Outlook here

Crude oil strategy, Sept 12: WTI crude oil rice may fall to $65 in medium-term

Oil India, ONGC dip up to 6% as crude oil prices fall on demand concerns

While upstream earnings are currently impacted, with the OPEC+ delaying its planned rise in production, analysts at Prabhudas Lilladher expect oil prices to rebound to $75-80 per barrel soon.

Rupee trades in narrow range against US dollar in early hours today

The rupee traded in a narrow range on Wednesday and appreciated 2 paise to 83.96 against the American currency, on easing crude oil prices and tracking its Asian peers. Forex traders said foreign institutional inflows, alongside significant corrections in asset classes like the dollar index and crude oil prices, supported the rupee, while the Reserve Bank's active intervention kept the rupee in a tight range. At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.97 against the American currency and was at 83.96 in initial trade, registering a rise of 2 paise over its previous close. On Tuesday, the rupee depreciated 3 paise to close at 83.98 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent to 101.42 points. Brent crude, the international benchmark, was trading higher by 0.48 per cent to USD 69.52 per barrel in futures trade. Forex

Crude oil prices fall on demand concerns, Brent below $70, near 3-year low

On Tuesday, the Organization of the Petroleum Exporting Countries (Opec) in a monthly report said world oil demand will rise by 2.03 million barrels per day (bpd) in 2024

Opec again cuts growth forecast of global oil demand in 2024, 2025

The weaker outlook further underscores the challenge faced by Opec+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia in balancing the market

Crude Oil Strategy today: Check target price, resistance & other key levels

Oil prices showed marginal recovery on Monday to settle a per cent up at $68.71, following its worst weekly fall since October 2023 as WTI fell 8 per cent and Brent was down 10 per cent.

Share market today: Mixed global cues, falling crude & RLL listing in focus

Share market today: Mixed Asian markets, RIL getting PLI approval for full 10 GWh battery making facility, crude oil falling 1% below $74, and Raymond Lifestyle IPO, are among triggers that will be on

Brent crude oil price falls $1 per barrel to $72.75 on demand fears

A broader sell-off had seen prices for Brent crude futures tumble as much as 11 per cent, or about $9, in a little over a week, hitting a low of $72.63 on Wednesday

Opec+ discusses to delay planned oil output hike amid low prices: Report

Last week, the group looked set to proceed with a 180,000 barrel per day (bpd) hike in October, but market volatility and a weak demand outlook have raised concern

Crude Oil: Check trading strategy, target price and other key levels here

Oil recorded its first back-to-back monthly decline amid signs of sluggish demand in China and the United States raised concerns about future consumption growth.

Oil goes higher as halted Libyan exports levels expected Opec+ supply boost

News of increased production helped push oil prices lower last week but the scale of the sell-off was overdone, said Phil Flynn, an analyst at Price Futures Group

Windfall tax on domestically-produced crude oil cut to Rs 1,850 per tonne

The government has cut windfall tax on domestically-produced crude oil to Rs 1,850 per tonne, from Rs 2,100 per tonne with effect from Saturday. The tax is levied in the form of Special Additional Excise Duty (SAED). The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at nil'. The new rates are effective from August 31, 2024, an official notification issued late Friday said. India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies. The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.

Savings for Indian refiners from Russian crude decline to a third

Indian refiners saved $8-10 billion from April 2022 to June 2024 - enough to cover half the fertiliser subsidy bill

Oil strategy today: WTI crude may test support of $72, MCX Crude 6050

Crude oil trading strategy today, Aug 29: Weakness in the crude crack spread is bearish for oil prices

Oil up 3% on Israel-Hezbollah war, Libya oil field closure; how to trade?

Brent crude, WTI oil trading strategy today, Aug 27: We expect oil prices to face immediate resistance of $80 and the rally would find it difficult to sustain above it

Any correction in oil marketing companies could be a buying opportunity

The gross refining margins or GRMs and gross marketing margins for OMCs are critical

Oil prices jump 1% on West Asia escalation fears, US rate cut expectations

Brent crude futures climbed 79 cents, or 1 per cent, to $79.81 a barrel by 0910 GMT, while US crude futures were at $75.63 a barrel, up 80 cents, or 1.07 per cent