Brent crude futures rose $1.12, or 1.4 per cent, to settle at $83.55 a barrel, their highest close since November 30. US West Texas Intermediate crude (WTI) climbed 65 cents or 0.8 per cent to $78.01, also the highest close since November. Both oil benchmarks made weekly gains of moreRead More →
Oil prices rose on Thursday, January 25, after data showed US crude stockpiles fell more than expected last week and a fresh attack by Houthi forces on ships off Yemen’s coast underscored the peril facing trade in a key global transit route. Europe policymakers only see price growth returning toRead More →
Oil prices edged up on Wednesday as a bigger-than-expected US crude storage withdrawal, Chinese economic stimulus and geopolitical tensions countered concerns over tepid demand. China’s central bank will cut the amount of cash that banks must hold as reserves from February 5, in a move expected to shore up aRead More →
Benchmark indices recorded their worst week in over two months clocking the biggest weekly losses, tracking mixed earnings and muted global cues. After the subdued start, a sharp cut in the middle derailed the momentum however, resilience in the select heavyweights in the final sessions trimmed losses. Nifty Bank alsoRead More →
Brent futures settled 54 cents lower at $78.56 a barrel. US West Texas Intermediate crude fell 67 cents to settle at $73.41. For the week, Brent gained about 0.5 per cent while the US benchmark rose over one per cent, according to news agency Reuters. Also Read: ‘Oil markets wellRead More →
The IEA monthly report said it expects oil demand to grow by 1.24 million barrels per day (bpd) in 2024, up 180,000 bpd from its previous projection. Oil traders also worried about geopolitical risks in the Middle East. Pakistan conducted strikes inside Iran, targeting Baluchi separatist militants, the country’s foreignRead More →
Brent crude futures fell 82 cents, or 1.1 per cent, to $77.47 a barrel. US West Texas Intermediate crude futures (WTI) were down 51 cents, or 0.7 per cent, at $71.89, according to news agency Reuters. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for aRead More →
Crude futures lost over 10 per cent in 2023 in a volatile year of trading and reported their biggest annual drop since 2020, marked by geopolitical conflict in the Middle East and concerns about the oil output levels of major producers around the world. Organisation of Petroleum Exporting Countries (OPEC)Read More →
Oil prices slipped on Wednesday, December 27, paring the previous day’s gains as investors monitored developments in the Red Sea, where shippers are returning despite further attacks on Tuesday. Brent crude futures were down 53 cents, or 0.7 per cent, at $80.54 a barrel. US West Texas Intermediate crude fellRead More →
The rally – in thin trade with some markets closed for public holidays, added to last week’s gains of about three per cent after Houthi attacks on ships disrupted global shipping and trade while the Israel-Hamas conflict shows no sign of easing. Brent crude futures were up by $1.79, orRead More →
