Page 10 - Crude Oil

Oil set for weekly gains as market eyes US, Chinese policy support

Signs of Chinese economic fragility heightened expectations of policy measures to boost growth in the world's top oil importer

Looking at resuming crude oil supply to India, expanding trade basket: Iran

Iran is looking at ways to resume supplying crude oil to India and is keen on expanding the overall trade basket including in the petro-chemical sector through the strategically-located Chabahar port, a senior Iranian official said on Thursday. Tehran is also keen to expand counter-terror cooperation with India as the possibility of rise in the terrorist activities looming large over West Asia in view of the fragile situation in the region, especially in Syria, he said. The senior Iranian official told a group of journalists that the incoming Donald Trump administration is unlikely to be similar to that of his first term towards Tehran as the global geopolitics have undergone significant changes with China increasing its strategic heft. In his first term as the US president, Trump tightened the noose of sanctions on Iran, eyeing over 80 per cent of the country's economy and even ended Washington's participation in the 2015 nuclear deal with Tehran. On the overall situation in West

Oil prices set for second annual loss in a row, stable day on day

Brent crude futures rose by 42 cents, or 0.6 per cent, to $74.41 a barrel as of 1430 GMT. US West Texas Intermediate crude gained 38 cents, or 0.5 per cent, to $71.37 a barrel

Core sector growth slows to 4.3% annually in November, betters Oct numbers

The output of eight key infrastructure sectors slowed down to 4.3 per cent in November 2024 against 7.9 per cent growth registered a year ago, according to official data released on Tuesday. On a monthly basis, the production growth of these sectors was higher than the 3.7 per cent expansion recorded in October 2024. In November, production of crude oil and natural gas contracted. The production growth of coal, refinery products, fertiliser, steel, and electricity moderated to 7.5 per cent, 2.9 per cent, 2 per cent, 4.8 per cent, and 3.8 per cent, respectively, against 10.9 per cent, 12.4 per cent, 3.3 per cent, 9.7 per cent and 5.8 per cent in November last year. However, cement output rose to 13 per cent in the month under review. The growth of core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.2 per cent during April-November this fiscal. It was 8.7 per cent in the same period last fiscal. The eight core sectors

Carlos Slim invested $1 billion in 2024 to supercharge crude oil bets

Slim now owns 24.2 per cent of Talos, prompting the board in October to introduce a poison pill to prevent him from acquiring more than a quarter of the stock

Govt-owned oil refiners struggle to get adequate crude supplies from Russia

Oil executives from three of the nation's government-owned processors said they haven't been able to obtain enough Russian crude for January loading in the so-called spot market

Iran's regime in 'dire straits' as it faces energy crisis due to sanctions

Industries are forced to shut down due to the grim situation

Crude oversupply likely to hit 950,000 barrels per day next year, says IEA

Unwinding of ongoing production cuts by Opec+ not enough to counter tepid oil demand growth

Rosneft inks record oil supply deal with RIL; to supply up to 500K bpd

Transaction estimated at $13 bn per year

Govt nod to Adani Krishnapatnam Port for petro import in 'public interest'

The notification to allow continued petroleum imports at Krishnapatnam Port had a positive impact on the shares of Adani Ports, which gained over 1 per cent intraday on the Bombay Stock Exchange

Farmers' protest, Cyclone Fengal, windfall tax, Joe Biden pardons Hunter & more

Today, both houses of the Parliament agreed to hold discussions on the Indian Constitution. The debate will be held on December 13 and 14 in the Lok Sabha, and 16 and 17 in the Rajya Sabha.

Govt deploys advanced tech to enhance oversight over retail fuel outlets

To enhance regulatory oversight of retail fuel outlets, the government has implemented a comprehensive monitoring system leveraging cutting-edge technologies, according to a Parliamentary report tabled on Monday. The monitoring framework integrates advanced technologies including OTP-based calibration, magnetic self-destructive pulsers, and digital payment systems, enabling real-time data analytics across the country's fuel distribution network. The action taken report by the standing committee on consumer affairs, food and public distribution revealed that the monitoring system has been expanded nationwide, with special emphasis on high-risk areas. The regulatory mechanism, developed under the Legal Metrology Act, 2009 and Legal Metrology (General) Rules, 2011, provides a robust oversight framework. "By adhering to the provisions of the Act and leveraging modern monitoring tools, the government aims to enhance regulatory oversight, protect consumer interests, and foster a fair and

Govt abolishes windfall tax on crude oil, ATF, petrol, and diesel exports

The govt has withdrawn the Road and Infrastructure Cess on petrol and diesel exports to ease financial pressure on the oil sector

Oil prices rise as investors weigh Opec+ discussions, Trump tariffs

Key Opec+ nations have begun discussions to delay an oil production restart planned for January, potentially for several months

Crude oil climbs on supply jitters as Russia-Ukraine war escalates

Ukraine fired U.S. and British missiles at targets inside Russia this week despite warnings by Moscow that it would see such action as a major escalation

PM Modi visits Guyana: Why South American nation is crucial to India

South American nation has become a significant contributor to world crude supply

Explained: Why crude oil companies are walking back from green energy

Investors are rewarding oil giants that did not embrace wind and solar

Russia's seaborne crude oil exports fall to lowest since September

Four-week average flows slipped by about 150,000 barrels a day in the period to Nov. 17, driven lower by the biggest drop in weekly exports since early July

Crude oil prices fall more than 1% as hurricane Rafael risk recedes

Brent crude oil futures lost 93 cents, or 1.23%, to $74.70 a barrel by 1415 GMT. U.S. West Texas Intermediate (WTI) crude was down $1.05, or 1.45%, at $71.31

Crude oil gains 3% after Opec+ delays output hike, US election in focus

Brent futures were up $2.13 per barrel, or 2.9%, to $75.23 a barrel at 1123 GMT. U.S. West Texas Intermediate (WTI) crude was up $2.15 a barrel, or 3.1%, to $71.64