Page 17 - Crude Oil Prices
Oil steady as economic slowdown worries offsets tight supplies, weak dollar
Brent futures for September delivery fell 14 cents, or 0.1%, to $106.13 a barrel by 10:48 a.m. EDT, while U.S. West Texas Intermediate (WTI) crude for August fell 27 cents, or 0.3%, to $102.33
 "Oil steady as economic slowdown worries offsets tight supplies, weak dollar")
Rupee rises 6 paise to close at 79.92 against USD as equities turn positive
At the interbank forex market, the local unit opened lower at 80.00 against the greenback and fell further to an intra-day low of 80.05.
 "Rupee rises 6 paise to close at 79.92 against USD as equities turn positive")
Windfall tax: Relief for product exports, not for upstream crude, says Citi
Petrol and diesel prices are down by $40-50 per barrel from month-ago levels
 "Windfall tax: Relief for product exports, not for upstream crude, says Citi")
Top Headlines: Windfall tax review, rising medical devices import and more
India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China. Read more in our top headlines
 "Top Headlines: Windfall tax review, rising medical devices import and more")
Rupee depreciates by 25% since Dec 2014 due to global factors: FM
The value of the rupee declined from 63.33 against a dollar on December 31, 2014, to 79.41 on July 11, 2022, Finance Minister Nirmala Sitharaman said in a reply quoting RBI data.
 "Rupee depreciates by 25% since Dec 2014 due to global factors: FM")
Oil jumps 2% as soft dollar and tight supply offset recession concerns
Brent crude futures for September settlement rose $2.44, or 2.4%, to $103.60 a barrel by 0900 GMT, having advanced by 2.1% on Friday.
Robust oil earnings likely to drive RIL's Q1 results, say analysts
Retail to benefit from low base; tariff hikes to power telecom growth
 "Robust oil earnings likely to drive RIL's Q1 results, say analysts")
Oil slips below $100 again as gasoline, food drive US inflation higher
Despite a tight physical oil market, investors have sold oil futures on worries that aggressive rate hikes to stem inflation will slow economic growth and hit oil demand.
 "Oil slips below $100 again as gasoline, food drive US inflation higher")
Oil slides on strong dollar, weaker demand outlook and slowdown fears
Brent crude futures were down by $4.78, or 4.5%, at $102.32 a barrel by 1112 GMT, having earlier sunk as low as $101.48.
Global shares, oil prices fall as investors await US inflation update
Shares in Europe declined in early trading. Benchmarks finished lower in Tokyo, Seoul, Hong Kong and Shanghai but rose slightly in Sydney.
 "Global shares, oil prices fall as investors await US inflation update")
Bond yields dip 10 bps on falling crude prices amid global growth concerns
Bond prices and yields move inversely. A fall of 1 bps in the yield on the 10-year paper corresponds to a rise in price of roughly 7 paise
 "Bond yields dip 10 bps on falling crude prices amid global growth concerns")
No relief yet
Govt must be prepared to face oil price risks
 "No relief yet")
Citigroup warns crude oil may fall to $45 a barrel by 2023-end
That outlook is based on an absence of any intervention by OPEC+ producers and a decline in oil investments
 "Citigroup warns crude oil may fall to $45 a barrel by 2023-end")
India to drop windfall tax if oil prices fall $40 a barrel: Revenue Secy
The tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1, as the government moves to boost domestic supply and revenue
Top Headlines: GST e-invoicing for firms, corporate earnings in FY23 & more
The central government is planning to make GST e-invoicing mandatory for companies with a turnover of Rs 5 crore and above, a government official said. Read more on this in our top headlines
 "Top Headlines: GST e-invoicing for firms, corporate earnings in FY23 & more")
Statsguru: Six charts explain falling rupee and how it impacts the economy
The Reserve Bank of India has been defending the rupee and has lost a significant amount of foreign exchange reserves
 "Statsguru: Six charts explain falling rupee and how it impacts the economy")
Damocles Sword on oil stocks: Is it time for you to rethink your position?
The government has levied Rs 6 per litre tax on ATF and petrol exports and imposed Rs 13 per litre tax on diesel exports
 "Damocles Sword on oil stocks: Is it time for you to rethink your position?")
Rupee falls 18 paise to close at new low of 79.03 against US dollar
At the interbank foreign exchange market, the rupee opened lower at 78.86 against the greenback and finally settled at 79.03, down 18 paise over its previous close.
 "Rupee falls 18 paise to close at new low of 79.03 against US dollar")
Global stocks, oil firm as China eases quarantine rules for intl arrivals
Asian shares rose after the announcement and EU stocks were firmly in green which sent the MSCI's benchmark for global stocks into positive territory and on track for its 4th consecutive daily gain
Oil rises almost $2 a barrel, still set for weekly drop on recession fears
U.S. Federal Reserve Chair Jerome Powell said the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes that have weighed on financial markets