In a bid to recover past losses the state-run oil companies may not immediately lift the six-month-long freeze on daily pricing of automobile fuel rates despite a nearly 30% decline in prices
Dealers say it's because of delay in index inclusion
Oil prices plunged about 5% to an eight-month low on Friday as the US dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession
Brent crude futures settled up 93 cents, or 1%, at $94.10 a barrel, while U.S. West Texas Intermediate crude ended $1.17, or 1.3%, higher at $88.48.
U.S. commercial oil stocks were forecast to have risen 800,000 barrels during the same week, analysts forecast in a Reuters poll
Oil rebounded after President Vladimir Putin said on Wednesday that Russia will stop supplying gas and oil if price caps are imposed on Russia's energy resources
Underlining tight supply, the latest U.S. inventories weekly reports are expected to show crude stocks declining 900,000 barrels last week
The International Energy Agency boosted its forecast for global demand growth as soaring natural gas prices and heat waves spur demand
Oil prices fell on Wednesday ahead of a key U.S. report on inflation and after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand.
Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signalling weak U.S. fuel demand.
Brent crude rose 35 cents, or 0.3%, to $105.00 a barrel by 1045 GMT and U.S. West Texas Intermediate crude gained 19 cents, or 0.2%, to $102.92
FMCG, construction materials were among other sectors to see large outflow, while metals, power, discretionary consumption and telecom saw inflows
Brent crude futures were down 43 cents, or 0.4%, at $108.60 a barrel by 0653 GMT, giving up earlier gains of more than $1
Brent crude futures for September, the more actively traded contract, rose 63 cents, or 0.6%, to $113.08 a barrel at 0250 GMT
U.S. West Texas Intermediate (WTI) crude futures slid 44 cents, or 0.4%, to $111.32 a barrel at 0150 GMT, giving up earlier gains
Italian Prime Minister Mario Draghi has also supported the idea of a price ceiling for Russian gas, according to the French leader.
Fed is expected to deliver another 75-basis-point interest rate hike in July, followed by a half-percentage-point rise in September
Sri Lanka has been muddling through mainly supported by $4 billion in credit lines from neighbouring India.
Relentless selling by FIIs is a key concern for the Indian markets. Rupee movement and development of monsoon will be other important factors for the market, says an analyst
With the Fed expected to keep raising interest rates, open interest in WTI futures on the New York Mercantile Exchange fell on Thursday to its lowest since May 2016