Page 6 - Crude Oil Prices

Impact check: Higher crude oil prices threaten India Inc's profit margins

Weak demand, global slowdown add to their woes

Skid marks may appear in Street as oil prices wear out tyre stocks

Margins have likely peaked in Q1 as commodity headwinds start to bite

Oil rises as dollar falls, US braces for Hurricane Idalia impact on energy

U.S. West Texas Intermediate futures rose $1.07, or 1.3%, to $81.17 a barrel by 1:42 p.m. EDT [1742 GMT], while Brent crude futures were up by 98 cents, or 1.2%, to $85.40 a barrel

Investors may want to bottom fish in stocks of oil marketing companies

Macro conditions could improve and valuations are already low

Vegetable prices likely to cool down next month, says FinMin official

The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but rising crude oil prices is a concern even though it is still within the tolerable zone of USD 90 a barrel, a finance ministry official said. The official further said that reduction in excise duty is not on cards and the government is driving infrastructure investment, and private sector capital investment is yet to gather steam. He further said that the Centre's capital expenditure which was 28 per cent of Budget estimates at the end of June quarter, will reach 50 per cent by September end. In the 2023-24 budget, the government had hiked capital investment outlay by 33 per cent to Rs 10 lakh crore in the current fiscal. The official further said that a 6 per cent rainfall deficit is unlikely to impact kharif sowing as the agriculture sector is resilient. The government has been taking steps to control inflation, including releasing wheat and rice stocks from

How will India cope with Urals breaching the EU-denominated price cap?

Urals crude has passed the trading price cap imposed by the G7 but supplies to India may sail through largely unscathed. Here's why

Higher inflation, oil price to keep RBI on hold; cap market gains: Analysts

Another worry for the RBI and the markets are the monsoons back home (intensity and spatial distribution)

Brent crude falls 0.6% to $76.65 with interest rates, inventories in focus

LONDON (Reuters) -Oil futures dipped slightly on Thursday, with trader expectations of further interest rate hikes countered by potentially bullish U.S. oil inventory data after preliminary figures showed a fall in stocks.

Natural gas faces hurdle at Rs 195; can rally up to 33% thereafter

In case, the MCX Natural Gas futures manages to conquer the Rs 195 hurdle, a sharp rally towards Rs 260 - 300 seems likely.

OPEC+ output cut may cause higher prices, push up India's import bill: IEA

The International Energy Agency (IEA) on Tuesday termed the decision of OPEC+ to cut oil production as "risky for the global economy", saying it may push up already high prices, leading to higher import bills for nations like India. Global oil markets were already set to tighten in the second half of 2023, with the potential for a substantial supply deficit to emerge, said Fatih Birol, head of the Paris-based energy watchdog. Talking to reporters after a bilateral meeting with India's Commerce and Industry Minister Piyush Goyal here, he said, "The cut of the additional production would mean that we have all the reasons to believe that there could be an upward pressure on the prices". "At this juncture of time when the global economy is still very fragile and many emerging countries have difficulties with economic performance, I found this decision risky for the global economy," he noted. Asked if oil prices could go past USD 100 per barrel again, he said, "I think we are all the da

Oil prices rise in choppy trading with US and China inflation in focus

Brent crude futures rose 65 cents, or 0.8%, to $84.83 a barrel by 1405 GMT. US West Texas Intermediate futures rose 92 cents, or 1.2%, to $80.66 a barrel

OMC marketing earnings expected to rise in fourth quarter, say analysts

Blended marketing margins rose to a 10-month high of about Rs 2.5 per litre in December, multiple analysts said

Crude oil can hit $100 a barrel if production cuts continue: Analysts

Others, too, believe that $100 a barrel could become a reality

Crude Oil rallies as OPEC+ cuts output; Trend reversal unlikely hint charts

On Monday, the MCX Crude Oil futures were seen trading above the 100-DMA for the first time in more than six months. Sustained trade above Rs 6,350 can help the trend turn favourable for Crude Oil.

Ukraine war: Is India complying with the Russian crude oil price cap?

Uncertainty about how much India pays is part of the murkiness around Russian oil flows more generally, as the trade shifts from the Atlantic basin to Asia and from large traders to smaller entities

Saudi Aramco earned profits of $161 bn in 2022 due to high crude oil prices

Oil giant Saudi Aramco said Sunday it earned a USD 161 billion profit last year. The firm, known formally as the Saudi Arabian Oil Co., said in its annual report that higher crude oil prices propelled its profits. It made the announcement on Riyadh's Tadawul stock exchange. In 2021, Aramco declared profits of USD 110 billion, as compared to USD 49 billion in 2020 when the world faced the worst of the coronavirus pandemic lockdown, travel disruptions and oil prices briefly going negative. Benchmark Brent crude oil now trades around USD 82 a barrel, though prices had reached over USD 120 a barrel back in June. Aramco, whose fortunes hinge on global energy prices, announced a record USD 42.4 billion profit in the third quarter of 2022 off the back of that price spike. Those high prices have further strained ties between the kingdom and the United States, traditionally a security guarantor among the Gulf Arab states amid tensions with Iran. Before the midterm elections in November, t

MCX Crude Oil may soon breakout; Bias negative for Natural Gas below Rs 224

The anticipated trading band for the MCX Crude Oil futures has got narrower to Rs 6,180 - Rs 6,660. Broader trend for Natural Gas remains weak as the commodity trades below 200-WMA.

MCX Crude Oil range narrows; Natural Gas up 39% from lows; what next?

The Bollinger Bands suggest a likely trading range of Rs 6,070 - Rs 6,650 for the MCX Crude Oil futures; whereas, Natural Gas futures need to sustain above Rs 231 for the pullback to continue.

Bias for MCX Crude Oil turns marginally positive, can rally up to Rs 7,600

Meanwhile, the MCX Natural Gas futures need to conquer the key resistances at Rs 224 and Rs 232 for a meaningful pullback rally to emerge.

MCX Crude Oil remains range-bound; Natural Gas can bounce back to Rs 255

The MCX Natural Gas futures need to sustain above Rs 209-level, break and sustained trade above Rs 224 can trigger a rally towards Rs 255.