Page 5 - Oil Prcies

Oil prices slip on weak Chinese outlook despite US stock drawdown

Brent crude futures fell 19 cents, or 0.2%, to $90.41 a barrel by 11:33 a.m. EDT (1533 GMT), while U.S. West Texas Intermediate crude (WTI) futures fell 17 cents, or 0.2% to $87.36

Petrol, diesel prices unlikely to change in India as oil nears $90 in 2023

Oil prices hit a 10-month high of nearly USD 90 per barrel as Saudi Arabia and Russia extended their voluntary production and export cuts until the end of the year. For a nation that is more than 85 per cent dependent on imports for its oil needs, the surge in prices means India will have to shell out more and the prospect of returning to market-driven petrol and diesel prices in the near future diminished further. Brent crude prices surged around 6.5 per cent over the past week after Saudi Arabia, which leads the expanded OPEC+ cartel with Russia, decided to keep its one million barrels a day reduction in supplies to the global market until the end of December. Russia has added its own voluntary export cuts in recent months. The move has led to Brent rising above USD 90 a barrel for the first time this year on Tuesday. On Wednesday, it was trading at USD 89.67 per barrel. The basket of crude oil that India imports has averaged USD 89.81 per barrel this month, up from USD 86.43 in

Oil prices rise for third day as tighter market offsets demand risks

Meanwhile, some refined products such as diesel - the workhorse fuel of the global economy - have started pricing in scarcity this winter, boosting their premium to the oil from which they are made

Global shares sink after US Fed notes dent hopes of rate hikes ending

Global stocks followed Wall Street lower Thursday after notes from a US Federal Reserve meeting dented hopes interest rate hikes are finished. London, Hong Kong, Paris and Seoul declined. Shanghai and Wall Street futures advanced. Oil prices rose. Wall Street's benchmark S&P 500 lost 0.8% on Wednesday after minutes from the Fed's latest meeting suggested board members are unsure what to do after raising their key lending rate to a two-decade high. Traders had hoped the board would decide inflation was under control and last month's rate hike was the last. Fed officials face a tough balancing act between the risk of an inadvertent over-tightening of policy against the cost of an insufficient one, said Tan Boon Heng of Mizuho Bank in a report. In early trading, the FTSE 100 in London fell 0.3% to 7,332.01. The CAC 40 in Paris lost 0.4% to 7,233.00 and the DAX in Frankfurt retreated 0.3% to 15,738.25. On Wall Street, futures for the S&P 500 and the Dow Jones Industrial Average ...

Opec upbeat over oil demand outlook despite for next year despite slowdown

Opec will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year

Saudi Arabia and Russia are cutting oil supply again in bid to boost prices

Russia will reduce its oil exports by 500,000 bpd in August; Saudi said it would extend its cut of 1 mbpd till August

TMS Ep454: India in AI race, oil prices, OMCs stocks, Giving Pledge

Can India catch up in AI tech development? Why are Indian oil companies not reducing prices? Is it a good time to invest in OMCs? What is the Giving Pledge? All answers here

Oil prices rise on possible OPEC+ cuts, progress in US debt ceiling deal

Oil prices rose on Friday in early Asian trade as markets weighed the likelihood of price-supportive OPEC+ production cuts over the weekend amid positive sentiment over US monetary policy

Oil slides 4% on worries about US debt ceiling, OPEC+ discussions

Some hard-right Republican lawmakers said they might oppose a deal to raise the debt ceiling in the United States, the world's biggest oil user

Oil extends loses by 5%, falls below $73 a barrel; Brent futures dips 3%

Both benchmarks closed at their lowest since late March in the previous session, when they also recorded their biggest one-day percentage declines since early January

Russia's flagship oil is moving ever closer to $60 per barrel cap

The price of Russia's flagship Urals crude at the point of export is getting closer to the $60 limit, data from Argus Media Ltd. show

India keeps gas prices steady as government mulls new rate regime

The government sets the price of gas from domestic fields every six months, however this time around it decided to keep any changes on hold for the period beginning April 1

Oil prices down on China outlook, spotlight on possible rate hikes

At the same time, oil prices are likely to be impacted by rate hikes across the world as global central banks tighten policy over fears of increasing inflation

Oil prices stable as market awaits Federal Reserve, OPEC decisions

WTI is trading in contango, which means front-month delivery contracts are trading higher than later deliveries, indicating current oversupply

Oil prices firm for a second session on upbeat US economic data

Oil prices rose for a second session on Friday, buoyed by stronger than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand

Oil prices set for second week of gains on brighter China outlook

Brent futures for March delivery gained 26 cents, or 0.3%, to $86.42 a barrel by 0655 GMT, while U.S. crude advanced 43 cents to $80.76 per barrel, a 0.5% gain

Oil prices head for solid weekly gain of 6% on China demand hopes

Brent crude futures fell 17 cents, or 0.2%, to $83.86 a barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 12 cents, or 0.2%, to $78.27

Oil prices settle higher amid supply disruption on Druzhba pipeline

Brent crude futures rose 72 cents to settle at $93.86 a barrel, while U.S. West Texas Intermediate crude rose $1.05 to $86.92

Oil prices drop as coronavirus outbreaks in China dent fuel demand

Brent crude futures dropped by 22 cents, or 0.2%, to $94.45 a barrel at 0025 GMT after falling 1.5% in the previous session

Oil prices slip as dollar firms, but supply worries check losses

Brent crude shed 44 cents, or 0.5%, to $95.72 a barrel at 0146 GMT, while US West Texas Intermediate (WTI) crude futures retreated 59 cents, or 0.7%, to $89.41