Page 39 - Crude Oil
Bias positive for MCX Crude Oil, Natural Gas: Key levels to watch out
The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.
 "Bias positive for MCX Crude Oil, Natural Gas: Key levels to watch out")
Russia's Putin, Saudi's bin Salman discuss bilateral ties and oil
The Saudi readout of the call said the crown prince affirmed support for efforts that would lead to a political solution to the crisis in Ukraine
 "Russia's Putin, Saudi's bin Salman discuss bilateral ties and oil")
Oil prices rise over 2% despite big US crude stock build
Brent crude was up $2.72, or 2.6%, to $107.36 a barrel by 12:52 p.m. (1652 GMT) U.S. West Texas Intermediate (WTI) crude futures gained $2.39, or 2.4%, to $102.99
 "Oil prices rise over 2% despite big US crude stock build")
Ukraine war to result in 1.3% lower GDP growth for India, says WB official
He said that even the fact that India is able to buy some cheap oil from Russia at the moment, the big picture is still that they are being hurt by the high commodity prices in the market
 "Ukraine war to result in 1.3% lower GDP growth for India, says WB official")
Top oil merchant Vitol to stop trading Russian crude by end of this year
Vitol's announcement came after an adviser to Ukrainian President Volodymyr Zelenskiy wrote to the heads of Vitol and other merchant traders, asking them to terminate business dealings with Russia
 "Top oil merchant Vitol to stop trading Russian crude by end of this year")
United Nations seeks $80 million to prevent tanker disaster in Red Sea
The United Nations urged donor nations on Friday to provide $80 million for an emergency operation to remove a million barrels of crude oil from a tanker
 "United Nations seeks $80 million to prevent tanker disaster in Red Sea")
Oil prices rise from three-week low as supply concerns linger
Japan will release 15 million barrels of oil from state and private reserves as part of the move, Kyodo news agency reported on Thursday
 "Oil prices rise from three-week low as supply concerns linger")
Oil prices rise above $105 a barrel as supply concerns persist
Saudi oil facilities have come under attack by the Houthis during the conflict, adding to supply disruption from Russia
 "Oil prices rise above $105 a barrel as supply concerns persist")
Implications of short-term gain of cheap Russia oil must be weighed
So, India should carefully weigh the short term gains of buying cheap oil from Russia against implications of annoying the western alliances
Putting energy security first, buying discounted Russian oil: FM Sitharaman
Sitharaman said that she was entering financial year 2022-23 (FY23) with "cautious optimism" at a time of global commodity price escalation due to the Russia-Ukraine war
 "Putting energy security first, buying discounted Russian oil: FM Sitharaman")
Oil set for biggest weekly losses in 2 years after oil stockpile release
JPMorgan said in a note it had kept its price forecasts unchanged at $114 a barrel for the second quarter and $101 a barrel in the second half of this year
India in a divided world: Keeping old friendships and cultivating new ones
The question for India, as a middle or swing power with long-term external dependencies for energy and military hardware, is how to not let old friendships come in the way of new ones, notes T N Ninan
OPEC sticks to modest boost in oil despite war jitters
OPEC and allied oil producers including Russia decided to stick to a modest increase in the amount of crude, a step that supports higher prices
 "OPEC sticks to modest boost in oil despite war jitters")
US does not want 'rapid acceleration' in Indian energy imports from Russia
India has bought at least 13 million barrels of Russian crude oil since the country invaded Ukraine in late February
 "US does not want 'rapid acceleration' in Indian energy imports from Russia")
Oil prices rebound on tight supply, prospects of new Russia sanctions
US West Texas Intermediate (WTI) crude futures rose $2.72, or 2.6%, to $106.96 a barrel, erasing a 1.6% drop on Tuesday
Rupee skids 21 paise to 75.94 against dollar as crude oil prices spike
The local unit finally settled at 75.94 against the dollar, down 21 paise from the previous close
 "Rupee skids 21 paise to 75.94 against dollar as crude oil prices spike")
Oil prices rise on tight supplies, stable demand
United Arab Emirates energy minister Suhail al-Mazrouei said on Tuesday that the mission of OPEC+ was to stabilise markets and come up with as much supply as possible
 "Oil prices rise on tight supplies, stable demand")
Russian foreign minister Sergei Lavrov may visit India within a week
It would be the highest-level visit from Russia to India after Moscow launched its military offensive against Ukraine on February 24
 "Russian foreign minister Sergei Lavrov may visit India within a week")
Top headlines: PVR, Inox shares surge; strike hits services across India
Business Standard brings you the top headlines on Monday
 "Top headlines: PVR, Inox shares surge; strike hits services across India")
Oil prices rebound after reports of fire at Saudi Aramco facility
A huge plume of black smoke was seen rising in Jeddah where oil giant Aramco has several oil facilities, witnesses said on Friday
 "Oil prices rebound after reports of fire at Saudi Aramco facility")