Futures in New York traded near $75 a barrel after rising 1.6% on Tuesday
The dent due to rising petrol and diesel prices comes at a time when most households across the country are grappling with higher medical expenses due to the Covid pandemic and rising commodity prices
The IEA said market volatility stoked by the impasse served neither producers nor consumers and that while higher fuel prices could provide an impetus to developing more renewable energy
NEW YORK (Reuters) -Oil prices rose on Thursday, rebounding from early losses after U.S. government data showed a much bigger drop than expected in crude and gasoline inventories.
Any breach below 1,340-1,350 would crash Nickel's prices till 1,300
Domestic production of oil and gas has been lagging
Prices were hiked thrice in February itself and then once on March 1.
Brent crude futures were up 50 cents, or 0.7%, at $75.18 a barrel by 1400 GMT, having slumped by 2% on Monday.
HDFC Securities has a BUY recommendation on Oil India with a revised price target of Rs 183
Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.
NEW YORK (Reuters) -Oil prices steadied on Thursday, holding close to their highest levels in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity.
Doubts about the future of the 2015 Iran nuclear deal that could end U.S. sanctions on Iranian crude exports also helped prices.
In gold, fresh selling can commence below 46,800 levels while buying can commence above 47,300.
Brent crude rose $1.02, or 1.4 per cent, to $75.83 by 8:19 pm IST, having touched its highest since October 2018 at $76.02 after the EIA data
Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter
NEW YORK (Reuters) - Oil futures rose on Friday, reversing early losses and set for a fourth week of gains after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices.
Brent crude futures were down 52 cents, or 0.7%, at $72.56 a barrel as of 1100 GMT
Investors should stick with the pro-cyclical commodity trade, particularly energy, Wood said
NEW YORK (Reuters) -Crude oil prices fell nearly 2% from their highest level in years on Thursday as the dollar strengthened after the U.S. Federal Reserve signaled it might raise interest rates as soon as 2023.
With most additional supply being gobbled up very quickly, gas prices will likely stay at elevated levels for the foreseeable future