Page 59 - Oil Prices

Oil extends losses as Texas prepares to ramp up output after freeze

Brent crude futures ended the session down $1.02, or 1.6%, at $62.91 a barrel while U.S. West Texas Intermediate (WTI) crude fell $1.28, or 2.1%, to settle at $59.24.

Saudi Arabia plans to increase oil output amid recovery in prices

World's largest oil exporter plans to reverse recent unilateral production cut, signalling confidence in recovery

How an Arctic blast in Texas is fast becoming a global oil market crisis

More than 4 million barrels a day of output -- almost 40 per cent of the nation's crude production -- is now offline

Oil jumps $1/bbl as Texas freeze shut production, prompts US output drop

Oil has been supported by OPEC+ supply curbs, Saudi Arabia's additional cuts and hopes of a demand rebound due to COVID-19 vaccinations

Oil mixed over US production fall, possible Saudi output rise

Benchmark Brent crude gained 13 cents, or 0.2%, to $63.48 a barrel at 1442 GMT, while U.S. West Texas Intermediate (WTI) crude fell 18 cents, or 0.3%, to $59.87 a barrel

Oil extends rally on Texas supply disruptions; crude gains 2.2%

US West Texas Intermediate (WTI) crude rose $1.18, or 2%, to $61.23 a barrel

Oil prices soar to their highest in 13 months as market rebalances

Brent crude was up 93 cents, or 1.5%, at $63.36 a barrel

Oil prices rise on fears of heightened tensions between Saudi Arabia, Yemen

Hopes for more U.S. stimulus and an easing of coronavirus lockdowns helped support the rally, after prices gained around 5% last week

Deep freeze sends natural gas soaring to record $600 in Oklahoma

Heating and power plant fuel traded for as much as $195 per mmBtu in Southern California

India is Asia's best post-Covid recovery story: Chris Wood

Rising inflation expectations, Wood believes, is one of the reasons that will boost cyclical trades going ahead, and the best way to play this is via bank and oil-related stocks

Oil prices drop after strong rally as new Covid-19 variants weigh

The Brent benchmark had risen in the previous nine sessions, its longest sustained period of gains since January 2019

Oil prices hit its highest in a year on economic recovery hopes, OPEC+ cuts

Brent crude was up 72 cents, or 1.2%, at $59.56

Oil prices reach highest in a year on US growth optimism, supply restraint

Brent crude futures climbed 45 cents, or 0.8%, to $59.28 a barrel, after hitting a high of $59.32, its highest since Feb. 20 last year. Brent is on track to rise 6% this week

Oil pares gains after hitting new highs on tightening OPEC supplies

Brent crude gained 17 cents to $58.63 a barrel

OPEC+ sticks with oil policy as prices rise towards one-year high

Oil prices extended gains on Wednesday after the meeting ended and benchmark Brent crude traded as high as $58.74 a barrel, the highest since late February 2020

Oil treads warily higher amid patchy vaccine rollouts, new Covid variant

Oil prices edged higher after a weak start, holding on to the past three months of gains, although patchy vaccine rollouts, new infections and the discovery of new variants are keeping a lid on prices

Oil steadies at $55.89 a barrel as Covid-19-induced demand worries persist

Brent crude futures were up 8 cents, or 0.1%, at $55.89 a barrel by 1331 GMT, having hit a session low of $55.31

Oil prices tick up with European shares amid Saudi blast reports

Brent crude was up 32 cents, or 0.6%, at $56.20 by 1433 GMT, while US crude rose 22 cents, or 0.4%, to $52.99.

Oil prices edge lower amid doubts over US stimulus, rising Covid cases

Brent crude was down 15 cents at $55.73 by 0135 GMT, having risen nearly 1% on Monday. U.S. crude was also lower, dropping 5 cents to $52.72 oil is caught between lingering doubts over any recovery in

Beyond Budget Headlines: Oil sector may come to the govt's rescue this year

Every Budget has something to offer for the oil sector. Oil prices have been rising because of global demand amid a stringent environment of regulations. So, what is Budget 2021 going to do for the oil sector? Boosting revenue collection will be a challenge if oil prices rise and the government has to roll back excise duty hikes, says our in-house policy expert A K Bhattacharya. He also points out that the disinvestment revenue that can be mobilised from the oil sector will be a key factor for Budget. In the seventh episode of Beyond Budget Headlines with AKB, Business Standard’s special video series in the run-up to Budget 2021, we also discuss the expenditure side challenges to the Budget, how to boost foreign investment, and opportunities in Budget to boost jobs and growth.