Page 74 - Crude Oil Price

Sensex snaps 3-day winning run, slips 17 pts; Realty index sheds 2%, IT 1%

Investors looked to lock in gains after the recent rally but most dips were bought into, which left indices unchanged at close.

RIL, IT stocks drive Sensex to fresh closing high, up 167 pts; VIX jumps 4%

The domestic benchmark indices extended their gains to the third day in a row on Monday

Oil prices down after deep Saudi price cuts spur demand concerns

Brent crude futures for November fell 66 cents, or 0.91%, to $71.95 per barrel by 0930 GMT.

Oil extends losses after deep cuts to Saudi crude prices for Asia

Brent crude futures for November fell 57 cents, or 0.8%, to $72.04 a barrel by 0101 GMT while U.S. West Texas Intermediate crude for October was at $68.73 a barrel, down 56 cents, or 0.8%

Sensex ends above 58K for the first time; Nifty climbs 17,300; RIL zooms 4%

The BSE MidCap index closed 0.35 per cent higher after hitting a new peak of 24,454 in the intra-day deals

How govt saved over Rs 20,000 cr by silently applying brakes on LPG subsidy

While there was no need for subsidy in the low-oil-price phase of 2020, LPG prices have zoomed in 2021. But the Centre has not transferred subsidy at any point this year

Sensex tumbles 581 pts from record peak, ends 214 pts down; Nifty holds 17K

The Nifty Realty index jumped 5 per cent today while the Nifty Metal index slipped 1.8 per cent

OPEC+ raises 2022 oil demand growth forecast as US pushes to hike output

Two OPEC+ sources said the group's experts revised the 2022 oil demand growth forecast to 4.2 million barrels per day (bpd), up from the previous forecast of 3.28 million bpd.

Oil prices edge lower as US pushes OPEC to boost crude output

Prices were also under pressure from concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries.

OPEC+ likely to keep oil output policy from Sept unchanged, say sources

OPEC+ is likely to keep its oil output policy unchanged when the group meets on Wednesday and continue with its planned modest production increase, three OPEC+ sources told Reuters

Oil prices drop after Hurricane Ida hits US Gulf rigs, refineries

Brent was down 16 cents or 0.2% at $72.54 a barrel by 0654 GMT. It rose more than 11% last week in anticipation of disruptions to oil production from Hurricane Ida.

Asian shares up on dovish Fed chair, oil up as hurricane batters Louisiana

Asian shares started the week with gains and the dollar was not far off two-week lows after US Fed Reserve Chairman Powell struck a more dovish tone than some investors expected in long-awaited speech

Dim days for Ujjwala: High global prices ring death knell for LPG scheme

Sector watchers say budgetary allocations for LPG subsidy may soon vanish, going the way of kerosene subsidy in the Budget 2021

India's crude oil production continues to fall, dips 3.2% in July

India's crude oil production continued its declining trend, falling by over 3 per cent in July as state-owned ONGC produced less than the target. The country's crude oil production declined by 3.2 per cent in July to 2.5 million tonnes when compared with the previous year, and by 3.37 per cent in April-July to 9.9 million tonnes, according to data released by the Ministry of Petroleum and Natural Gas on Tuesday. Oil and Natural Gas Corporation (ONGC), the nation's largest oil and gas producer, produced 1.6 million tonnes of crude in July. This was 4.2 per cent lower than last year and 3.8 per cent less than the target of 1.7 million tonnes. During April-July, ONGC's oil output fell 4.8 per cent to 6.4 million tonnes. Natural gas production showed a contrasting trend. Helped by KG-D6 fields of Reliance-BP, gas production rose 18.36 per cent year-on-year to 2.9 billion cubic metres and by almost 20 per cent in April-July to 11 bcm. While gas production from ONGC's fields fell over 1

Oil prices snap seven-day losing streak, helped by weaker dollar

Brent crude climbed $1.23, or 1.9%, to $66.41 a barrel by 0701 GMT, after dipping to $64.60 earlier in the session, its lowest level since May 21

Oil prices rebound from 7-day losing streak as investors snap up bargains

Brent crude futures climbed 60 cents, or 0.9%, to $65.78 a barrel by 0158 GMT, after hitting the lowest level since May 21 of $64.60 earlier in the session

Delta, Fed dominate economic conversation as stocks jump, oil drops

The Dow Jones Industrial Average ended up 0.65%, while the S&P 500 gained 0.81% and the Nasdaq Composite added 1.19%

Oil rises but set for 5% weekly drop as Delta variant of Covid-19 spreads

Brent crude futures rose 24 cents or 0.4% to $66.69 a barrel at 0635 GMT, after dropping 2.6% on Thursday to its lowest close since May.

Oil slumps over 3%, hits May lows as losses extend to a sixth day

Oil prices skidded on Thursday for a sixth session, hitting lows not seen since May, pressured by a stronger US dollar and concerns about weaker demand as Covid-19 cases rise

Oil drops towards $66, lowest since May on demand concerns amid Covid surge

Rising Covid cases fuel fears over slower demand; stronger dollar as Fed on track to taper this year weighs