Page 21 - Oil Prices

Oil prices slide on Beijing Covid warning, global inflation concerns

Oil prices slipped more than $2 on Monday as a flare-up in Covid-19 cases in Beijing quelled hopes for a rapid pick-up in China's fuel demand

US inflation surges to 41-yr high of 8.6%; stocks fall sharply, crude dives

The faster-than-expected increase in inflation last month reported by the Labor Department on Friday also reflected a surge in rents, which increased by the most since 1990

Remarks on Prophet threaten to fray India's energy ties with Islamic world

West Asia is also India's biggest supplier of LPG, the fuel that is used in kitchens. India imported 48 million tonnes, or 58 per cent of the fuel used in the last three fiscals

Oil shock: What the RBI can do

The absolute oil price rises at a very high rate and the absolute prices of other goods and services rise somewhat at their usual rates

Oil prices are 'nowhere near' peak, says UAE minister; brent rises

The comments serve as an acknowledgment that last week's decision by the OPEC+ coalition to bolster output will give consumers little respite from the soaring cost of energy this summer

Oil inches higher ahead of US inventories data, supported by tight supplies

Oil prices edged up ahead of data on US oil inventories, with crude futures supported by tight supplies and recovering fuel demand as China's top cities relax Covid-19 curbs

Oil prices stable as market juggles risk sentiment with tight supplies

US West Texas Intermediate (WTI) crude futures were down 25 cents, or 0.2%, at $118.25 a barrel, having risen by over $1 per barrel earlier in the session.

Fundamentals for oil weaken, witness 1st surplus since June 2020: Goldman

Modest declines in the Russian exports, record large sales by Strategic Petroleum Reserve and severe Chinese lockdowns brought the oil market to its first surplus since June 2020, said Goldman Sachs

Oil prices inch higher on relaxed China Covid curbs, tight supplies

Brent crude futures were up 28 cents, or 0.2%, at $119.79 barrel at 0601 GMT

Oil shock devastates poorer countries as shortages, protests mount

Sri Lanka, Laos, Nigeria and Argentina are among emerging economies in Asia, Africa and Latin America that have seen long queues at some filling stations in the past weeks because of fuel shortages

Forecast for historic rupee low grows as oil prices widen deficit

The bearish forecasts -- which will see the rupee drop as much as 4% from current level -- stem from a deterioration in India's external finances

Brent climbs over $120 per barrel after Saudi Arabia raises crude prices

. Brent crude firmed 68 cents, or 0.6%, to $120.40 a barrel at 0640 GMT after touching an intraday high of $121.95

Oil prices jump in early trade after Saudi Arabia hikes crude prices

Oil prices rose more than $2 in early trade after Saudi Arabia raised prices sharply for its crude sales in July

Saudi Arabia raise oil prices more than expected amid Asia rebound

The increase for July shipments resumes a streak of hikes that started in February and was only broken when state producer Saudi Aramco cut prices from record levels for this month

Oil prices gain slightly after Opec+ agrees to increase production

U.S. crude was heading for a sixth weekly gain on tight U.S.supply, which has prompted talk of fuel export curbs or a windfall tax on oil and gas producers

Oil prices steady on doubts OPEC+ hike can make up Russian deficit

Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session

Oil little changed after OPEC-plus agrees to boost output by 648,000 bpd

Oil prices could get more support later on Thursday if analysts' forecasts are correct that US crude inventories declined by around 1.4 million barrels last week

Global shares mixed amid rate hike, Covid-19, oil price worries

World shares were mixed Thursday, with European benchmarks opening higher after a broad decline in Asia. Oil prices fell by more than $2 a barrel ahead of a meeting of OPEC set for later in the day. Oil-producing nations are expected to decide on output targets in their first meeting since Europe set sanctions on Russian crude. The Financial Times reported Saudi Arabia has indicated to western allies it could raise production to cover any substantial fall in Russian production. Supply bottlenecks would persist, Jeffrey Halley of Oanda said in a commentary, but it would be a rare piece of good news for the global economy and the inflation fight". France's CAC 40 gained 1.0% in early trading to 6,481.90, while Germany's DAX added 0.8% to 14,454.96. Markets were closed in Britain for the Platinum Jubilee marking Queen Elizabeth's 70 years on the throne. The future for the S&P 500 futures rose 0.3% and that for the Dow industrials gained 0.5%. In China, strict COVID-19 restrictions ..

Oil prices fall on prospect of OPEC offsetting Russian crude output loss

Brent crude was down $2.07, or 1.8%, at $114.22 a barrel at 0649 GMT, having risen 0.6% the previous day.

World shares steady as oil drops on Saudi Arabia's talk of output boost

Derivative markets pointed to a positive start later in the United States following losses on Wednesday when economic data failed to ease angst over rate hikes to fight inflation.