Page 4 - Oil Market

Sentiment positive for OMCs amid lower oil prices, marketing margins

The volatile geo-political situation should lead to some caution for investors. But given the weakness in global and China demand, these trends could persist

Crude oil prices extend gains on fears of wider West Asian conflict

The potential escalation of the conflict has countered mounting demand-side pressures, said Priyanka Sachdeva, analyst at Phillip Nova

Ahead of festive season, 19 kg commercial LPG price hiked by Rs 48

Ahead of the festival season, oil marketing companies announced a Rs 48.50 hike in 19 kg commercial LPG cylinder prices, effective October 1. The cost of 14 kg domestic LPG cylinders remains unchanged

Opec vs IEA: Diverging oil demand forecasts signal an uncertain future

The difference between the forecasts of OPEC and IEA, amounting to 0.93 million bpd, underscores the widening divide between these key institutions

ATF price slashed 4.6%, commercial LPG up Rs 39 per 19-kg cylinder

The price reduction will help ease the burden on airlines for whom fuel makes up for almost 40 per cent of the operating cost

Oiling wheels of change

China's post-2013 oil strategy offers valuable lessons for India on unlocking new reserves

Oil marketing companies slash commercial LPG cylinder prices by Rs 30

Commercial LPG cylinder prices for July have been further cut by Rs 30, after being reduced by Rs 70 in June. Its aimed at providing relief to enterprises in the food and hospitality industries

New Petrobras chief sworn in amid market fears of increased govt control

President Luiz Inácio Lula da Silva, who nominated Chambriard, attended the ceremony at a Petrobras research center in Rio de Janeiro

Russia boosts crude oil revenues as shipping, trading network grows

India has no sanctions against Moscow and became the biggest buyer of Russian seaborne crude ahead of China and Turkey after European refiners stopped imports

OPEC+ extends oil output cuts to 3rd qtr in bid to support prices: Report

Oil prices trade near $80 per barrel, below what many OPEC+ members need to balance their budget. Worries over slow demand growth in top oil importer China have weighed on prices

TotalEnergies moves ahead on $6 billion Kaminho oil project near Angola

The $6 billion project involves developing two oil fields located in Block 20/11, Cameia and Golfino, according to a statement from Angola's national hydrocarbon agency ANPG

Govt bond yields edge lower as oil prices stabilises, awaits fresh triggers

The benchmark Brent crude contract, which had crossed $92 per barrel earlier this month on fears of an escalation in the Middle East conflict

Crude oil holds near five-month high amidst tensions in West Asia

Brent crude futures edged up 5 cents, or 0.1%, to $90.43 per barrel by 1309 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 10 cents or 0.1% at $86.33

Indian Oil Corp set to tap spot oil market as Russian term deal lapses

State-run IOC's term contract with Rosneft expired on March 31, two sources said

Two tankers with Russia's Urals oil idle for weeks off West Coast of India

It remains unclear why they have been idling but there are growing signs that western sanctions are disrupting the fleet of tankers moving Russian oil

US leads global crude oil production for sixth year in a row: EIA

"The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row," the EIA added

Crude oil steadies on Opec+ supply restraint, underwhelming China reforms

Brent crude was up 15 cents, or 0.2%, to $82.95 a barrel by 0911 GMT, while U.S. West Texas Intermediate (WTI) fell 21 cents, or 0.3%, to $78.53. Brent has gained almost 8% this year

Russia announces six-month ban on gasoline exports from March 1

This time, the ban will not extend to member states of the Eurasian Economic Union, Mongolia, Uzbekistan and two Russian-backed breakaway regions of Georgia - South Ossetia and Abkhazia

Crude oil steadies as demand jitters counter conflict in West Asia

The March contract for U.S. West Texas Intermediate (WTI) crude, which expires on Tuesday, was up 7 cents at $79.26 in tepid trade while the WTI April contract slipped 13 cents to $78.33

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