Page 21 - Crude Oil Price

Oil prices climb amid uncertainty over Iran President Raisi's fate

A helicopter carrying Iranian President Ebrahim Raisi crashed on Sunday, Iranian officials said

Lower crude oil prices likely to tilt imports towards Iraq and UAE

As of April, India imported more than 1.72 mn barrels per day from Russia

India's WPI-based inflation reaches 13-month high of 1.26% in April

April 2024 WPI: Prices of crude petroleum & natural gas and food articles witnessed a surge in April 2024 compared to March 2024, while prices of non-food articles and minerals saw a decline

Crude oil prices steady, signal bearish outlook in near term; here's why

Crude oil prices have corrected significantly after posting 16 per cent gains for Q1-2024. However, since April the oil prices have lost roughly 7 per cent of their value, amid the easing of tensions

Pre-market: Nifty key levels; Stocks to react to Q4 nos, IIP data on May 13

All you need to know before the market opens on Monday, May 13: Gift Nifty hints gap-down open; India's IIP growth rate slows; Jindal Steel, DLF, UPL and Zomato Q4 results today.

Crude oil, Natural gas, Copper: Check key trading strategy, target price

Crude oil prices rose by 0.5 per cent to $78.48 on Monday amid volatility tied to hopes for an end to the Gaza conflict.

Iraq closes gap with Russian oil in FY24 as Moscow's discounts shrink

Tightening of US sanctions on Russian shipping coupled with reduced availability of Russian oil due to its participation in the OPEC+ grouping's production cuts has hurt discounts to Indian refiners

Market expects crude oil prices to recover; adopt buy-on-dip strategy

OPEC is expected to keep the supply tight to maintain the price stability at a time when demand is seen weakening

Nifty pre-market news: All you need to know before stocks open on May 7

Indian stock market update on Tuesday, May 07: Global cues, Gift Nifty hint at gap-up start; Q4 earnings, FII flows in focus.

Slipping profits in Q4FY24 due to inventory loss, says Indian Oil

IOCL said crude throughput for Q4 reached record levels of 73,308 MMT in FY24

Shortage of heavy oil spells higher cost for shippers, road builders

Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and Russia had already led to shortages of heavier crude

HPCL, BPCL, IOC stocks rally up to 4% as oil dips on ME ceasefire hopes

According to reports, Egypt has revived stalled negotiations between the Israel-Hamas for a ceasefire agreement, thereby pushing crude oil prices lower.

Oil prices decline for third day as US crude production, inventories swell

US crude oil inventories swelled last week by 4.906 million barrels, while gasoline and distillate stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday

India's oil import bill could swell to $101-104 billion in FY25: ICRA

India's net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of USD 7.9 billion in 11 months (April-February) of 2023-24, up from USD 5.1 billion in 2022-23. "With India's oil import dependency expected to remain high, if the discounts on purchases of Russian crude persist at the prevailing low levels, ICRA expects India's net oil import bill to widen to USD 101-104 billion in FY2025 from USD 96.1 billion in FY2024, assuming an average crude oil price of USD 85/bbl in the fiscal," ICRA said. Additionally, any escalation in the IranIsrael conflict and an associated rise in crude oil prices could impart an upward pressure on the value of net oil imports in the current fiscal year, it .

Despite wars in Europe and West Asia, oil shock fears yet to materialise

The peak that Indian crude oil basket has touched since Russia invaded Ukraine in Feb 2022 was in June of the same year pricing at $116.01 a barrel. It has not crossed $100 a barrel after July 2022

India receives oil cargo in Russian SCF tanker after brief halt: Reports

India is the largest consumer of Russian seaborne oil, sold at a discount after Western nations shunned purchases from Moscow for its invasion of Ukraine

Why wealthiest Gulf powers like UAE are snapping up prime property in Egypt

In the short term, the UAE's goal was to shore up the economy of a country seen as too big to fail

March crude oil imports decline 1.1% to 20.69 million tonnes: Govt

Product imports in March fell 6.1% from the previous month to 3.83 million tonnes, its lowest since July 2023, while exports gained 6.4%

Markets wrong in hoping worst of geopolitical crisis is over: Chris Wood

In its recent GREED & fear note Wood said, in the base case, it expects the Russia-Ukraine conflict to continue in the months leading US presidential election in November.

Top investing strategies from UBS if Iran-Israel geopolitical woes flare

Instead of exiting stocks in case Middle-East crisis flares up, analysts at UBS suggest investors look for alternative strategies to improve the resilience of portfolios and be positioned for rebounds