Page 25 - Crude Oil Prices
Oil prices near $50 as coronavirus vaccine fuels demand recovery hopes
Brent crude rose 51 cents, or 1 per cent, to $49.35 a barrel by 7:35 pm IST. West Texas Inter-mediate (WTI) crude climbed 51 cents, up 1 per cent, to $49.35
 "Oil prices near $50 as coronavirus vaccine fuels demand recovery hopes")
Asian stocks hit record-high on hopes of US stimulus package, Covid vaccine
A gauge of Asian shares hit a record peak on hopes of a much-needed US stimulus package before year-end just as coronavirus vaccines roll out, while oil prices hovered near their highest since March
 "Asian stocks hit record-high on hopes of US stimulus package, Covid vaccine")
Fuel prices hiked in international market due to US elections: Pradhan
Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan on Sunday said there has been a rise in fuel prices in the international market because of the recent elections in America and other reasons."There has been a rise in fuel prices in the international market because of recent elections in America and other reasons," said Pradhan."Recently, OPEC has decided to increase production. We expect the fuel prices to stabilise soon," he added.Pradhan on Sunday interacted with officials of Indore Municipal Corporation, officials of the state unit of Indian Oil and several stakeholders from the industry. Had insightful discussions on the efforts of IMC in waste segregation & management to ensure a clean environment for better public health, he added."Indore Municipal Corporation also came up with a presentation on setting up of waste-to-energy plants. Happy to share that IMC has consistently eliminated garbage dumps, ensured 100 per cent household-waste segregation and ...
 "Fuel prices hiked in international market due to US elections: Pradhan")
Oil slips from 7-month high on signs of more supply, demand doubts
But Brent was down 81 cents, or 1.7%, at $47.80 a barrel by 1256 GMT on Thursday, having dropped as much as $1
Oil slips a second day as coronavirus cases spiral amid stimulus talks
US oil prices slipped, but prices were supported by signs of movement on a stimulus deal in Washington
 "Oil slips a second day as coronavirus cases spiral amid stimulus talks")
Saudi Aramco gets $8 billion with jumbo five-part bond deal: Report
The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by the pandemic and weak oil prices
 "Saudi Aramco gets $8 billion with jumbo five-part bond deal: Report")
ONGC Q2 net profit down 55% at Rs 2,878 cr due to lower crude oil price
Similarly, gross revenues declined 30.9 per cent to Rs 16,917 crore against Rs 24,493 crore in FY20
 "ONGC Q2 net profit down 55% at Rs 2,878 cr due to lower crude oil price")
No change in petrol, diesel rates even as global oil prices soften
Global crude prices have remained around $40 a barrel
 "No change in petrol, diesel rates even as global oil prices soften")
Rupee settles seven paise lower at 74.15 against US dollar
Higher crude oil prices also put pressure on the Indian currency
 "Rupee settles seven paise lower at 74.15 against US dollar")
US oil drops as Covid-19 pandemic rages while US vote counting continues
US oil fell nearly 1% as new lockdowns went into affect in Europe raising questions over demand for crude, while ballots were still being counted in the US election, keeping markets on edge
 "US oil drops as Covid-19 pandemic rages while US vote counting continues")
Oil falls over 1% as markets whipsawed by US election uncertainty
Oil dropped as Democrat Joe Biden edged closer to the White House but the Republicans look likely to retain Senate control, decreasing the chances of any huge Covid-19 relief package
 "Oil falls over 1% as markets whipsawed by US election uncertainty")
Oil climbs as US stockpiles shrink, election uncertainty looms over market
West Texas Intermediate was up 71 cents, or 1.9%, at $38.37 a barrel by 0157 GMT, having gained more than $1 earlier in the day
 "Oil climbs as US stockpiles shrink, election uncertainty looms over market")
Oil plunges over 5% as pandemic surges, US crude stockpiles, output soar
Also weighing on the market, US crude stockpiles rose more than expected last week as production surged in a record build
 "Oil plunges over 5% as pandemic surges, US crude stockpiles, output soar")
Oil slips as Covid-19 may force Russia to support extending output cuts
Brent crude rose 6 cents, or 0.1%, to $42.52 a barrel by 0810 GMT having risen 1.7% on Thursday. U.S. crude fell 7 cents, or 0.2%, to $40.57
 "Oil slips as Covid-19 may force Russia to support extending output cuts")
Petrol, diesel prices unchanged, crude oil prices firms after fall
Diesel and petrol prices remained unchanged on Tuesday with oil marketing extending the pause after reducing fuel prices, particularly diesel, for the past several days
OMC stocks come under pressure over muted demand, weak refining margins
Rising Covid-19 cases in India and talks of a second wave of the pandemic globally are adding to concerns on demand for petroleum products moving forward
 "OMC stocks come under pressure over muted demand, weak refining margins")
India tops up strategic reserves with cheaper crude, saves over $685 mn
The state-funded reserves are meant to tide over short-term supply disruptions and will take care of India's oil needs for 9.5 days
 "India tops up strategic reserves with cheaper crude, saves over $685 mn")
Covid-19: Opec sees weaker outlook as demand falters, shale recovers
Oil prices slipped further below $40 a barrel in London on Monday, close to their lowest in more than two months
ONGC, OIL earnings hinge on upside in crude prices as production stagnates
With not much upside in output and gas prices weak, earnings are expected to be under pressure
 "ONGC, OIL earnings hinge on upside in crude prices as production stagnates")
Oil holds near $44/barrel, heads for biggest weekly drop on demand concerns
Brent crude, the international benchmark, was up 5 cents, or 0.1%, to $44.12 at 0745 GMT, heading for a 2.3% drop this week