US President Donald Trump on Sunday warned of a "major retaliation" against Tehran after it threatened revenge for the killing
Brent Crude Futures surged over 3 per cent to trade at $68.25 per barrel-mark. The West Texas Intermediate, too, gained 2.71 per cent to $62.84 per barrel.
OPEC and its allies will consider whether to deepen cuts to crude supply when they next meet in December
This comes at a time when international benchmark Brent crude price was seen at $77.38 a barrel on Thursday
Primary producers like ONGC and OIL are not allowed to maximise profits when prices are high. Downstream, refiners and marketers are not allowed to maximise profits when prices are low
Exxon Mobil Corp was punished by shareholders earlier this year after compounding disappointing results with a massive spending plan and a lack of buybacks
US crude output has risen by almost 30 percent in the last two years, and it is now close to top global producer Russia
Saudi Arabia, effective leader of the OPEC and Russia have discussed boosting output to compensate for supply losses from Venezuela
Weakness in rupee and India's heavy dependence on oil import are seen as key reasons for the unabated price hikes at home
All countries have access to the same global price for crude oil, but retail prices in each depend on taxes
This comes at a time when the government is reportedly planning a 'windfall tax' on oil producers
Prices could average $66.5 a barrel in Oct-Dec
World oil demand is expected to rise by 1.63 million barrels per day (mb/d), reaching 98.7 mb/d in 2018
Brent crude futures surged to almost $75 a barrel on Friday as traders braced for the possible re-imposition of US restrictions on Iran
If prices mitigate, oil marketing companies might become investment-worthy again
Iraqi minister says group mulls extension up to mid-2019
Profit margins of tyre manufacturers improved during the December quarter
Crude prices are important for airlines, as jet fuel, which is a refined product, is heavily taxed in India and forms a major cost component
Analysts are already turning bullish on crude oil prices with several of them revising their earlier forecasts upwards
The twin tailwinds of low bond yields and cheap crude oil that were driving equity markets in India, despite lacklustre corporate earnings, are now receding.Crude oil prices have more than doubled from the lows of 2016 pushing up India's import bill and raising fears of a higher current account and fiscal deficit. A persistently higher deficit translates into a weaker rupee and higher consumer inflation.Bulls are also facing the heat from a steady rise in bond yields both in India as well as in the US. As a result, the additional earnings potential on equity investment becomes lower compared with investments in debt. Experts say that corporate earnings yields should be higher than bond yields to compensate for the risk associated with equity investments. But the two are moving in opposite direction right now, reducing the financial incentive for further equity investments. The earnings yield for a broad portfolio of 340 BSE 500 index companies is down 120 basis points (bps) in the ...