Page 28 - Oil Prices

Amid rising prices, oil companies invest heavily in offshore drilling

Surging oil prices are encouraging the investments, along with Europe's mounting energy demand as the Ukraine-Russia war drags on

Oil prices slide more than $7 on inflation concerns and Iraq exports

Investors will watch the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known collectively as OPEC-plus, on Sept 5

Oil prices mixed as OPEC supply cut prospect neutralises demand fears

Oil prices were mixed on Monday as investors balanced expectations the OPEC will cut output to support prices against concerns sparked by Federal Reserve Chairman Jerome Powell

Oil prices dip after US Fed chair Powell warns of economic pain ahead

Brent crude futures fell 1 cent to $99.33 a barrel by 1:13 p.m. EDT (1713 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 33 cents to $92.19 a barrel.

Oil prices ease on possible Iran oil exports, rising interest rates

The prospect that the OPEC+ producer group could curb oil supplies limited the decline in oil prices

Fuel price: What is windfall gain tax and how it affects fuel prices?

What is windfall gain tax? How does it impact petrol-diesel prices? Which countries impose it? Read this detailed article to know everything about fuel and its relation to windfall gain tax

High commodity prices to keep rupee under pressure: BofA Securities

"India has continued to post wide trade deficits due to higher prices of oil and other commodities, which have eroded INR's basic balance buffer," the research house said.

Oil falls 4% on concerns economic slowdown may dent fuel demand

US West Texas Intermediate crude for September delivery - due to expire on Monday - was down $3.77, or 4.1%, at $87

Oil up 3% on account of robust US crude stocks data, tight supply outlook

Prices rose more than 1% during the previous session, although Brent at one point fell to its lowest since February, as signs of a slowdown mounted in some places

Centre planning to further cut windfall tax on crude, diesel: Report

The government is expected to review the new taxes, imposed on July 1, for the third time soon,

Oil prices fall below $94 a barrel, awaits news of Iran nuclear deal

Brent crude futures fell $2.27, or 2.4%, to $92.83 a barrel. The contract hit a session low of $92.51 per barrel, the lowest since Feb. 18

Global oil prices to fall to $70/barrel by end of 2024: Moody's Analytics

Global oil prices are expected to fall to almost $70 per barrel by the end of 2024, said Moody's Analytics in a recent report on the Asia Pacific (APAC) region.

OPEC, unlike IEA, sees lower 2022 oil demand growth, sticks to 2023 view

In a monthly report on Thursday, OPEC said it expects oil demand to rise by 3.1 million bpd, or 3.2%, in 2022, down 260,000 bpd from the previous forecast

Oil prices see-saw, settle on Russian pipeline constraints, recession fear

Crude prices have been under pressure for weeks as fears mounted that a recession could cut oil demand

Global stocks rise after US job data gain paves way for rate hike

Global stocks gained Monday after strong U.S. jobs data cleared the way for more interest rate hikes and Chinese exports rose by double digits. London, Shanghai, Tokyo and Frankfurt advanced. Hong Kong retreated. Oil prices edged higher. Wall Street's benchmark S&P 500 lost 0.2% on Friday after government data showed American employers added more jobs than expected in June. That undercut expectations a slowing economy might prompt the Fed to postpone or scale back plans for more rate hikes to cool inflation. Now it seems they will be debating whether they need to be even more aggressive, Edward Moya of Oanda said in a report. In early trading, the FTSE 100 in London was up 0.4% at 7,471.08 and the DAX in Frankfurt added 0.4% to 13,629.44. The CAC 40 in Paris advanced 0.6% to 6,512.74. On Wall Street, the future for the S&P 500 rose 0.3% while that for the Dow Jones Industrial Average was up 0.2%. The S&P declined 0.2% on Friday after government data showed employers hired .

World stock markets mixed ahead of US jobs data; Fed weighs rate hike

Global stock markets and Wall Street futures were mixed Friday ahead of an update on the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation. London, Paris and Frankfurt were lower while Shanghai and Tokyo advanced. Oil prices fell back. Investors were looking ahead to monthly U.S. employment numbers for possible signs of weakness that might prompt the Fed to decide it needs to ease off on rate hikes to cool inflation. Other data suggest the economy is slowing, which should reduce pressure for prices to rise. Consensus is looking for a softening in the labor market for July, said Stephen Innes of SPI Asset Management in a report. In early trading, the FTSE 100 in London lost 0.1% to 7,437.48 and the DAX in Frankfurt was little-changed at 13,660.80. The CAC 40 in Paris lost 0.5% to 6,483.56. On Wall Street, the future for the benchmark S&P 500 index slipped less than 0.1% while that for the Dow Jones Industrial Average was

Oil prices fall in early trade on demand worries, stronger US dollar

Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth

Oil prices fall as weak factory data fuels global demand concerns

Oil prices dropped again on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn

Saudi to push OPEC+ to increase oil production at upcoming meeting: Report

Saudi King Salman bin Abdulaziz assured US President Joe Biden of the production increase when they met on July 16

Oil prices slip as weak manufacturing data stokes recession fears

Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel