Crude oil price outlook: WTI short term resistance is at $82 for the day, while short term trading range should be in range of $77-$82
Crude oil outlook and strategy: Analyst at Sharekhan believes buying WTI crude on correction would be a good strategy for the day
LONDON (Reuters) - India's Reliance has made its first foray into trading a type of U.S. crude oil that underpins the global Brent benchmark in a process run by oil-index publisher S&P Global Commodity Insights, the publisher said.
India's Reliance, operator of the world's biggest refining complex, will not buy Russian oil loaded on tankers operated by Sovcomflot after recent US sanctions
Closing Bell on Monday, November 20, 2023: In the broader markets, the BSE MidCap index ended mildly lower, down 0.06 per cent, while the BSE SmallCap index jumped 0.39 per cent
Investors remained cautious that interest rate hikes could slow economic growth and reduce oil demand
Gasoline stocks rose by about 846,000 barrels, while distillate stocks rose by about 1.7 million barrels, according to the sources, who spoke on condition of anonymity
In December, crude oil imports from the US shot up 93 per cent to 3.9 million MT
Brent crude futures had risen 12 cents to $86.24 per barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 30 cents to $80.45
Both OPEC and US Energy Department have cut their demand outlooks, while a flare-up in Covid cases in China has sparked fresh concerns over fuel consumption in the world's top crude importing-country
The Saudi energy minister said OPEC+ had the means to deal with challenges including cutting production, state news agency SPA said on Monday, citing comments Abdulaziz bin Salman made to Bloomberg
Oil prices fell on Wednesday ahead of a key U.S. report on inflation and after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand.
Crude oil showed a declining trend, and prices are still stable in India. Petrol in Delhi is available at Rs 96.72, while Mumbai is selling at Rs 106.31 per litre. Check out fuel rates in your city
Oil prices held steady on Wednesday as concerns about weaker demand offset industry data that showed a larger-than-expected drawdown in US crude stockpiles.
Oil prices rose in early Asian trade on Wednesday as industry data showed a larger-than-expected drawdown in U.S. crude stockpiles.
LONDON (Reuters) -Oil prices fell more than $4 on Thursday as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.
Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude
US crude notched 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.
US crude oil stockpiles fell last week by 5.1 million barrels to 414.7 million barrels, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel drop.
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