Page 16 - Crude Oil

Houthis rebels fired missiles at India-bound British oil tanker: US

The United Kingdom Maritime Trade Operations (UKMTO) confirmed the incident late on Friday, reporting that an attack took place on the Pollux

New US sanctions target India's biggest crude grades from Russia

Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year

Govt hikes windfall tax on petroleum crude to Rs 3,300 a tonne from Feb 16

It will also increase a windfall tax on diesel, that had been reduced to zero, to 1.50 rupees a litre, the order showed

Crude oil prices decline as IEA flags slower demand growth this year

Brent crude futures fell 37 cents, or 0.5%, to $81.23 a barrel by 1008 GMT. U.S. West Texas Intermediate crude futures declined 44 cents, or 0.6%, to $76.20

Crude oil prices hold firm on Opec demand forecast, US fuel stocks

Brent crude futures rose 6 cents, or 0.07%, to $82.83 a barrel by 0953 GMT. US West Texas Intermediate (WTI) crude futures were flat at $77.87

Crude oil prices drift up with focus on tensions in West Asian region

Brent futures rose 30 cents to $82.30 a barrel as of 0924 GMT. U.S. West Texas Intermediate (WTI) crude gained 31 cents to $77.23 a barrel

Oil rises 0.72% to $79 a barrel on Gaza ceasefire rejection, US stock data

Brent crude futures rose 57 cents, or 0.72%, to $79.78 a barrel by 1043 GMT. U.S. West Texas Intermediate crude futures were up 47 cents, or 0.64%, at $74.33

India's oil need stabilises global price and demand: Minister Hardeep Puri

The country has expanded its list of source nations for oil and gas to 39 nations, up from 27 countries two years ago

Crude oil steadies after gains, Israel-Gaza ceasefire talks in focus

Brent crude futures dipped 8 cents to $77.91 a barrel by 0914 GMT, while U.S. West Texas Intermediate crude futures fell 13 cents to $72.65. Both contracts gained nearly 1% on Monday

Crude oil up on tensions in West Asia, China economy worries limit gains

March Brent crude futures, which are due to expire on Wednesday, rose 8 cents, or 0.1%, to $82.48 a barrel by 1059 GMT

Aramco says it will not increase maximum daily production on state orders

Saudi Arabia's oil giant Saudi Aramco said on Tuesday it will not try to increase its maximum daily oil production to 13 million barrels a day after receiving an order from the country's Energy Ministry. The firm, known formally as the Saudi Arabian Oil Co., said it would maintain its maximum output at 12 million barrels a day. It did not give a reason for the decision. However, crude oil prices globally have fallen over recent months as demand has been soft. Benchmark Brent crude traded Tuesday around USD 81 a barrel. Aramco reported earning USD 161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists worried about climate change.

Crude oil edges lower on China worries as tensions fester in West Asia

Brent crude futures dipped 23 cents to $83.32 a barrel by 0937 GMT while U.S. West Texas Intermediate crude futures edged down by 27 cents to $77.74

Crude oil rises towards $80 as China announces economic stimulus package

The front-month March contract for Brent crude was up 40 cents to $79.95 a barrel at 1410 GMT. U.S. West Texas Intermediate crude was up 57 cents to $74.94 a barrel

Crude oil edges higher as geopolitics outweighs global demand concerns

The front-month U.S. West Texas Intermediate crude futures contract for February delivery was up 31 cents at $73.72 a barrel in tepid trade

Govt defers Rs 5,000 cr plan to fill parts of strategic petroleum reserve

In the federal budget for 2023-24, the government had outlined a plan to purchase crude oil worth Rs 5,000 crore for caverns in the southern cities of Mangalore and Visakhapatnam

Aramco CEO Nasser predicts tighter oil markets, sees Red Sea risks

Container vessels have been pausing or diverting from the Red Sea that leads to the Suez Canal, the fastest route from Asia to Europe, where about 12% of world shipping passes

Will keep diversifying crude oil supply, accelerate energy transition: Puri

Puri said that while OPEC+ nations have a right to decide on their energy production, supply cuts against such uncertainty, and resulting adverse impact on global prices, will dent long term demand

Crude oil prices rise 1% to $78.96 a barrel on flaring West Asia tensions

Brent crude futures gained 81 cents, or about 1.04%, to $78.96 a barrel at 1333 GMT. The contract had lost 14 cents on Monday

Govt holds back $600 million plan to replenish strategic oil reserves

India has limited oil storage capacity, with space for only 39 million barrels of crude - barely enough for eight days of the country's consumption - to use in the event of an emergency

Indian refiners set to ask for extra Saudi oil after sharp price cut

Indian Oil Corp, the country's top refiner, and Bharat Petroleum Corp, are looking at lifting an additional 1 million barrels of oil each from Saudi Aramco in February, the sources said