Page 26 - Oil Prices

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%

Oil prices fall as US Fed interest rate hike raises fuel demand concerns

OPEC and its allies including Russia, known collectively as OPEC+, also decided to cut targeted output by 2 million bpd from this month

PSU oil companies losing a net Rs 4 per litre on diesel: Hardeep Singh Puri

PSU oil companies are losing a net Rs 4 per litre on diesel while their margins have turned positive on petrol, Oil Minister Hardeep Singh Puri said on Wednesday on talks of a price reduction in the offing as international rates have softened. Puri said his ministry will seek assistance for the three fuel retailers - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) for the losses they incurred on holding petrol and diesel prices since the Ukraine war to help the government fight inflation. "OMCs (oil marketing companies) still have under-recoveries on diesel," he told reporters when asked if there is a price reduction in the offing. The three firms held prices despite international oil prices shooting up to more than a decade high. The under-recovery - difference between the retail selling price and the international rate - currently is about Rs 27 per litre on diesel but the actual cash loss (the loss based on the

Oil prices rise before expected Fed rate hike as US crude stocks drop

Oil prices rose on Wednesday before an expected rate hike by the Federal Reserve, supported by another decline in US oil inventories as refineries picked up activity ahead of the winter heating seas

Oil prices slip ahead of US Fed meeting, crude stockpiles seen falling

At the same time, gasoline inventories fell 2.6 million barrels, more than expected. Official data is due at 1430 GMT.

China stocks roar back on reopening 'rumours'; oil price rises 1%

A gauge of Chinese stocks listed in Hong Kong surged almost 7 per cent intraday, rebounding from its lowest close since late 2005

Bond yields fall on 10-year US yield's drop below 4%, subdued oil

The benchmark 10-year Indian government bond yield ended at 7.3957%, after rising five basis points (bps) to 7.4454% on Monday

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 prices fall on China Covid-19 curbs and weak factory activity data

Chinese cities are stepping up zero-Covid curbs as outbreaks widen, dampening hopes of a rebound in demand

Oil prices down as top crude importer China widens Covid-19 curbs

US West Texas Intermediate (WTI) crude futures were down $1.02, or 1.2 per cent, at $88.06

Energy prices to fall 11% in 2023 as economies slow down: World Bank study

Currency depreciation in developing countries could deepen food and energy inflation: Commodity Markets Outlook report

Better for Indian policymakers to understand what makes oil prices move

India imports more than 85% of its crude, half of its gas, and 60% of the cooking fuel, and any uptick in rates reduces the purchasing power of Indian households, something that is called inflation

Oil prices rises on weaker dollar and supply concerns; trade choppy

Benchmark Brent crude futures rose by 44 cents to $93.70 a barrel by 11:03 a.m. EDT, while U.S. West Texas Intermediate crude futures rose by 77 cents to $85.35

Oil price rises as US dollar loses steam though demand fears linger

Oil prices rose as the US dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil importing economies

Oil gains on weaker US business activity, but Chinese demand data weighs

Brent crude futures for December settlement were up 55 cents, or 0.6%, at $94.05 a barrel by 10:39 a.m. EDT (1439 GMT), after rising 2% last week

Oil prices drop as Chinese demand data shows depressed consumption

Oil prices slid on Monday after Chinese data showed that demand from the world's largest crude importer remained lacklustre in September

'Marketing, pricing freedom must for catalysing investments in gas fields'

Pricing and marketing freedom are a must to ensure billions of dollar investment as costs of finding and producing natural gas from deposits lying several hundred metres below seabed are market driven, producers have told a government-appointed panel reviewing gas pricing. In an investor call post announcement of company's second quarter earnings on October 21, Sanjay Roy, senior vice-president for exploration and production, Reliance Industries Ltd, stated that producers are being represented by Association of Oil and Gas Operators (AOGO) at the panel whose report is expected in the next few weeks. "Potentially, the upstream producers are saying that there should be marketing and pricing freedom, pursuant to the policies and the contracts," he said. "The counter to elevated prices is increment to production, as we have seen in the case of KG-D6, and these investments will have to happen in frontier areas where there seems to be larger potential for such investments." Reliance and i

Oil steadies as rate hike talk offsets China demand hopes, output cuts

To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep raising its short-term rate target, Federal Reserve Bank of Philadelphia President Patrick Harker said

Oil near flat as inflation concerns contend with China's quarantine ease

Oil prices were near flat on Friday, as market participants weighed concerns about steep inflation with optimism that China could see energy demand tick up

Oil rises on tight supplies, possibility of China easing Covid curbs

Oil prices rose by more than $1 on Thursday in response to tighter supplies and on news that China is considering a cut in the duration of quarantine