Page 3 - Oil Prices Slip

Oil fell by more than 2% as Saudi price cuts counter West Asian worries

Brent crude slid 2.2%, or $1.74, to $77.02 a barrel by 1024 GMT while U.S. West Texas Intermediate crude futures shed 2.3%, or $1.73, to $72.08

Rupee dwindles 3 paise, reaches 83.19 against US dollar in early trade

The rupee started the new year on a flat note and depreciated 3 paise to 83.19 against the US dollar in the morning session, amid a negative trend in domestic equities and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from easing crude oil prices was negated by the strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 83.18 against the dollar, then fell to 83.19, registering a fall of 3 paise over its previous close. In the initial trade, the rupee also touched an early high of 83.15 against the US dollar. On Friday, the rupee appreciated 4 paise to settle at 83.16 against the US dollar on the last trading day of 2023. At the start of the new year, the dollar index was stable at 101.38, and Brent oil was at USD 77.07 per barrel. Asian currencies are also very stable with Yuan at 7.1253, IDR at 15,390, KRW at 1,294.53, said Anil Kumar Bhansali, Head of Treasury and ..

Oil limps into 2024 as Opec+ and war fail to prevent annual drop: Report

Brent crude edged higher toward $78 a barrel Friday, but is set to close 2023 about $8 below where it started the year

Oil prices slip, Brent falls toward $80/barrel ahead of Opec+ meeting

Brent crude futures fell 42 cents, or 0.5%, to $80.16 a barrel by 0901 GMT, while U.S. West Texas Intermediate crude futures were at $75.05 a barrel, down 49 cents, or 0.7%

Crude oil sinks into a bear market, all eyes on Opec+ leaders meet

The International Energy Agency said earlier this week that production growth means the global market won't be as tight as had been expected this quarter

Oil set for third weekly decline as Middle East conflict concerns ebb

The three weeks of declines are the longest weekly losing streak for both contracts since a four-week drop from mid-April to early May.

Oil prices head for weekly loss as geopolitical risk premium wanes

On the supply side, Saudi Arabia is expected to reconfirm an extension of its voluntary oil output cut of 1 million barrels per day through December, based on analyst expectations

Oil prices slip as Venezuela sanctions ease, Middle East in focus

Saudi Arabia had said it would keep its voluntary cut until the end of the year

Oil prices drop further as uncertain demand outlook weighs OPEC+

The U.S. services sector slowed in September as new orders fell to a nine-month low, though the pace remained consistent with expectations for solid third quarter economic growth

Oil prices fall as high-interest rate outlook outweighs tight supply

Meanwhile, the U.S. dollar hit a 10-month high on Tuesday, as higher bond yields attracted investors towards the greenback

Oil prices decline as economic growth concerns offset Opec+ cuts

The failure to reach more solid ground above $80.50 in Brent points to continued selling interest amid the well known gro­wth/ demand concerns

Oil prices falls more than 1% as growth fears offset China demand hopes

The cut, announced this month, will apply only to March output for now, Deputy Prime Minister Alexander Novak said on Tuesday

Oil drops 2% in light trading on China demand concern amid Covid surge

Brent crude futures fell $1.82, or 2.2%, to $82.51 a barrel by 11:23 a.m. EST [1623 GMT], while U.S. West Texas Intermediate crude futures fell $1.60, or 2%, to $77.93 per barrel.

Oil prices plunge 3% on US inventory build, China Covid-19 worries

Brent crude futures settled at $92.65 a barrel, shedding $2.71, or 2.8%, while U.S. West Texas Intermediate (WTI) crude futures settled at $85.83 a barrel, dropping $3.08, 3.5%

Oil drops as China Covid cases spike, dollar gains ahead of midterms

Crude has slumped by about a quarter from its June highs as signs of a global slowdown, tighter monetary policy, and a strong US dollar weighed on prices

Oil prices fall in choppy trade on account of mixed China Covid-19 signals

Brent crude futures fell 65 cents to settle at $97.92 a barrel. Earlier in the session, they rose to a session high of $99.56 a barrel, the highest since Aug. 31

Oil prices fall on back of US output gains, Chinese demand doubts

Oil output in the United States climbed to nearly 12 million barrels per day in August, the highest since the onset of the Covid-19 pandemic, monthly government data showed

Oil slips as China's Covid-19 curbs outweigh concerns over US output

Wider Covid-19 curbs in China invariably raise concerns over demand from the world's top crude importer, Stephen Innes of SPI Asset Management said

Oil prices slip as IEA warns of global recession, dented fuel demand

Brent crude futures fell 23 cents, or 0.3%, to $92.22 a barrel by 1349 GMT. U.S. West Texas Intermediate crude was down 52 cents, or 0.6%, at $86.75 a barrel

'Not a bluff': Vladimir Putin calls up 300,000 reservists to take on West

President Vladimir Putin on Wednesday ordered a partial mobilisation of some 300,000 reservists after the Russian military suffered a series of setbacks in the raging conflict with Ukraine, saying the move was essential to protect Russia's sovereignty as the "West is seeking to weaken, divide and finally destroy this country." Putin made the announcement in a televised address to the nation in which he also said that Russia will use all the means at its disposal to protect its territory, warning the West that "this is not a bluff". Ahead of his much-anticipated address, Putin had signed an Executive Order for the call-up to start the mobilisation immediately. Since early September, Ukraine forces have swiftly recaptured large swaths of land in Ukraine's Kharkiv region that Russian troops took over in early weeks of the war which began on February 24. The stretched-out frontline, the constant shelling of Russian borderline areas by the Ukrainian military and attacks on liberated ...