Page 3 - Crude Oil Prices

Oil prices up slightly ahead of long US weekend as peace efforts hold

Brent ​futures climbed 46 cents, or 0.64%, to $72.26 a barrel as of 0407 GMT. West ‌Texas Intermediate was up 32 cents, or 0.47%, to $69.01 a barrel

West Asia crisis caused ₹74,781 cr loss on fuel sales for oil firms: Puri

Petroleum Minister Hardeep Singh Puri said rising crude prices during the West Asia conflict led to ₹74,781 crore in losses for state-run OMCs till June 30

Emerging challenges: India needs to do more to attract stable capital flows

Falling oil prices offer India short-term relief, but the RBI warns that geopolitical tensions and shifting global capital flows continue to pose financial stability risks

Benchmark indices snap two-day decline as easing crude oil lifts sentiment

The Sensex and Nifty gained 0.6 per cent on Wednesday as easing crude oil prices, gains in financials and auto stocks, and strong domestic institutional buying lifted market sentiment

Oil prices rise as Iran's refusal to meet US envoys dims ceasefire hopes

Brent futures rose 50 cents or 0.69% to $73.45 a barrel at 1208 ‌GMT, while US West Texas Intermediate (WTI) crude climbed 63 cents, or 0.91%, to $70.13 a barrel

Oil prices fall as investors await outcome of US-Iran talks in Doha

Brent August crude futures were down 0.9 per cent, or 64 cents, at $72.51 a ‌barrel as of 0356; US West Texas Intermediate for August fell 0.6 per cent, or 39 cents, to $70.36 a barrel

Asian markets struggle for direction amid West Asia risks, rate-hike bets

Investors weighed the impact of a pause in hostilities between the United States and Iran, while firm oil prices and expectations of higher interest rates kept the dollar near a one-year high

Markets ahead: West Asia tensions, crude prices key factors to watch out

Developments on the geopolitical front, with the latest military exchanges involving the US and Iran, their impact on crude oil prices and domestic macroeconomic data announcements would dictate sentiments in the stock market this week, analysts said. Besides, trading patterns of foreign investors and progress of the southwest monsoon would also remain the key areas of focus for investors, they added. "Market participants will closely monitor Industrial Production (IIP) data, the final HSBC Manufacturing, Services and Composite PMI readings, and the foreign exchange reserves data for fresh insights into the health of the domestic economy," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Globally, the trajectory of crude oil prices and geopolitical developments in West Asia will remain key drivers of market sentiment, he said. The monthly auto sales numbers on July 1 will also be tracked by investors closely. "The week ahead is likely to be shaped by developments on the ..

Hormuz reopening quickly floods oil markets with supply, weighing on prices

An increase in crude shipments from the Persian Gulf, combined with weak Chinese demand and inventory releases, is putting downward pressure on oil prices worldwide

IndiGo up 24% in June; on course to log biggest monthly gain in over 7 yrs

On Thursday, IndiGo stock rallied nearly 5% as crude oil prices dipped below US-Iran war levels. The airline stock logged its biggest monthly rally in March 2019.

10-year govt bond yield at three-month low as RBI eases rate worries

The benchmark 10-year bond yield fell 6 basis points to 6.80 per cent as RBI Governor Sanjay Malhotra's remarks eased rate-hike concerns

Building buffers: Forex inflows should be used to build up reserves

Falling crude prices and US-Iran talks have eased pressure on the rupee, but RBI may continue building forex buffers amid global and domestic uncertainties

Worst is over for crude oil prices for now: Jim Burkhard, S&P Global Energy

Oil prices will remain volatile, but we expect Brent to move into the $80-$90 range, says Jim Burkhard, vice-president and head of research for oil markets, energy and mobility at S&P Global Energy.

Oil prices rebound after selloff, awaits progress on Strait of Hormuz flows

Prices fell more than 3 per cent on Monday after the United States granted Iran a 60-day sanctions waiver following initial peace talks

Foreign currency inflows to support domestic liquidity: RBI's MPC member

The growth-inflation outlook remains clouded despite easing West Asia tensions, with risks from food prices and supply chains, says Bhattacharya

EXIM matters: Fragile US-Iran ceasefire brings relief, likely to last

A pause in West Asia hostilities offers relief on energy, freight and trade costs, but India must stay alert as the US-Iran understanding remains fragile

Oil prices fall as tankers resume transit through Strait of Hormuz

By 0645 GMT, Brent crude futures gained 51 cents, or 0.64 per cent, to $80.36 a barrel, and ‌US West Texas Intermediate crude rose $1.28, or 1.7 per cent, to $77.88 a barrel

Silver prices fall sharply as USD surges on hawkish Fed; may test $60

Silver was trading at $66, down 7.78 per cent from June 17 high of $71.57.

Oil prices fall 2% to lowest since start of Iran war on US-Iran peace deal

Brent crude futures were down $1.64, or 2.06 per cent, at $77.91 a barrel ‌as of 0427 GMT, and US West Texas Intermediate fell $1.80, or 2.34 per cent, to $74.99 a barrel

Fuel prices can't be cut immediately after global rates fall: Suresh Gopi

Union Minister Suresh Gopi on Thursday said that the fuel prices cannot be reduced immediately when the rate of global crude comes down as it involves many factors, including the time taken for the cheaper oil to reach India. Gopi, the Union Minister of State for Petroleum, Natural Gas and Tourism, said of the recent hike in fuel prices, only an increase of around Rs 3.94 per litre has made an impact, but it cannot be immediately rolled back just because the cost of crude has gone down globally. "It will take time as the cheaper crude has to be transported to India via Strait of Hormuz, which will see an excessive traffic of ship movement. So things will have to be normalised," he told reporters here. He further said that since the war broke out in West Asia in February this year, the oil companies were impacted in a big way and the central government absorbed the impact to a good extent. "By absorbing the impact, the Centre lost Rs 12,000 crore. None of the states reduced their ..