Global oil demand rose at a slower-than-expected rate this month, but has remained resilient, analysts at JPMorgan said in a note on Thursday
As the markets prepare to open, the mood is upbeat. At 6:34 AM, the GIFT Nifty futures are trading 28 points higher at 24,762 levels, hinting at a positive start
Bloomberg News reported on Tuesday that the U.S. government was weighing harsher sanctions against Russia's lucrative oil trade, seeking to tighten the squeeze on the Kremlin's war machine just weeks
Crude prices moved higher Monday on the prospects for additional stimulus measures in China that could revive economic growth and energy demand
Oil prices rose on Friday, with Brent futures reaching $74.37 after Russia announced it had fired a ballistic missile at Ukraine and warned of a potential widening conflict
Brent crude oil prices saw a considerable decline from the beginning of Samvat 2080 (November 12) until October 28, dropping by 12.33 per cent from $82.52 to $72.34 per barre
Crude oil prices have been steadier on Thursday around $70.50/b in Asian hours, ahead of the weekly EIA inventory release from the US.
At 6:33 AM, GIFT Nifty Futures were trading 30 points higher at 25,251, suggesting a higher start for Indian markets.
At 6:30 AM, GIFT Nifty Futures were trading 39 points lower at 25,079 levels, indicating a weak start for the Indian bourses.
At 6:40 AM, GIFT Nifty futures were trading 89 points higher at 25,262 levels, suggesting a robust opening for the markets.
At 7:06 AM, GIFT Nifty futures also indicated a weak start for the bourses, trading 66 points lower at 25,410 levels.
Tehran said any Israeli response to the attack, which Israel said involved more than 180 ballistic missiles, would be met with "vast destruction"
Crude prices were also being boosted by rising tensions in the Middle East, said Tim Snyder, chief economist at Matador Economics
Brent crude futures climbed 79 cents, or 1 per cent, to $79.81 a barrel by 0910 GMT, while US crude futures were at $75.63 a barrel, up 80 cents, or 1.07 per cent
The jump in spending on dealmaking and expanding reserves marks a shift in strategy following a years-long focus on shareholder returns over growth, which many firms had employed
Brent crude futures were up 70 cents, or 0.9 per cent, at $80.46 a barrel at 1222 GMT, recovering some of the previous day's losses
U.S. job growth slowed more than expected in July as unemployment increased to 4.3 per cent, pointing to possible weakness in the labor market and greater vulnerability to recession
With the U.S. market shut on Thursday for the Independence Day holiday, trading was thin and there was no settlement for WTI, but prices have risen this week on strong summer demand expectations in US
US consumer sentiment weakened in June to a seven-month low as inflation and income worries linger, a survey showed on Friday
The gains erased some losses from the previous session, which was dominated by worries about stubborn U.S. inflation that dampened hopes for an interest rate cut as early as June