Page 16 - Oil Prices

India's crude import basket at 10-month low but pump prices to remain high

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

Oil prices erase 2022 gains as China's protests spark demand worries

Oil prices fell close to their lowest this year on Monday as street protests against strict COVID-19 curbs in China, the world's biggest crude importer, stoked concern over outlook for fuel demand

EU heads for December agreement for proposed price cap on imported gas

Any agreement on the European Commission's proposal to cap the price of imported gas will be postponed until the middle of December, said Jozef Sikela, the Czech minister of industry and trade

Oil inches up in early trade amid wrangling over Russian oil price cap

Brent crude futures inched up 13 cents, or 0.2%, to trade at $85.47 a barrel at 0121 GMT

We should see core inflation dipping: RBI MPC member Ashima Goyal

Core inflation is calculated by largely stripping away the volatile components of food and fuel. Goyal was referring to certain products that have linkages with oil prices

Oil prices rise to near $90/bbl on account of US crude stock drop

Brent crude futures rose $1.03, or 1.17%, to $89.39 a barrel at 0941 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.06%, to $81.81 a barrel

Indian markets are likely to underperform peers in the short-run: Analysts

Among the lot, US equities still have a lot of room to catch up as the US Federal Reserve (US Fed) slows its pace of rate hikes, analysts say

Oil prices ease to trade near 2-month lows on China demand fears

Brent crude futures for January had slipped 65 cents, or 0.7%, to $86.97 a barrel by 1000 GMT

Oil falls as Russian shipments via Druzhba pipeline to Hungary restart

In China, rising Covid-19 cases weighed on sentiment after an easing of virus restrictions this week

Oil prices surge after incident involving commercial vessel off Oman coast

In China, rising Covid-19 cases weighed on sentiment after an easing of virus restrictions this week

Indian refiners becoming wary of buying Russian oil as EU sanctions loom

Chinese refiners have already begun slowing down Russian oil imports from next month

Oil prices fall $1 on surging Covid cases in China, firmer US dollar

Covid-19 cases climbed in China over the weekend, with Beijing and other big cities on Monday reporting record infections

Oil prices jump by over 2% as China eases some coronavirus restrictions

Brent crude futures rose $2.39, or 2.6%, to $96.06 a barrel by 0745 GMT, extending a 1.1% rise in the previous session

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 prices decline on US crude inventory build, China Covid worries

Brent crude futures fell 74 cents, or 0.7%, to $94.62 a barrel by 1201 GMT

Oil prices eases to $98 a barrel as China Covid-19 cases dampen spirits

Brent edged down below $98 a barrel, after losing ground in the week's opening session as China reaffirmed its commitment to its zero Covid-19 strategy

India will 'benefit' from price cap on Russian oil: US Treasury Secretary

India will "benefit" from the proposed price cap on oil, Treasury Secretary Janet Yellen has said, arguing that the United States does not want Russia to "profit unduly" from the war by enjoying prices that are essentially very high due to its Ukrainian invasion. Developing countries like India and China have been increasingly buying discounted Russian oil as global energy prices remain high and Western nations seek to scale down their reliance on Russian energy. We want Russian oil to continue to supply global markets; stay on the market. But we want to make sure that Russia doesn't profit unduly from the war by enjoying prices that are essentially very high due to the war, Yellen told PTI in an exclusive interview on Monday ahead of her trip to India later this week. India's oil purchase from Russia and the Ukrainian invasion is expected to be significant topics of discussion during her India trip, where Yellen is travelling to primarily co-chair the US-India Economic and Financia

Oil slips on demand concerns but holds near $100 a barrel as dollar weakens

Brent crude futures fell by 39 cents, or 0.4% to $98.18 a barrel by 1306 GMT. U.S. West Texas Intermediate crude fell by 47 cents, or 0.51%, to $92.14

External sector could face some anxious moments, says CEA Nageswaran

He said that the way the oil price cap is being discussed has encouraged oil and gas traders to stock up on volumes, creating unintended consequences

Oil climbs 3% as dollar slips; EU ban on Russian crude imports looms

US West Texas Intermediate (WTI) crude futures were up $3.52, or 3.99%, at $91.69 and on course for a weekly gain of more than 4%