Oil prices rose on Friday and were on track for gains of almost 7% week-on-week, amid persistent tensions in the Middle East after Israel rejected a ceasefire offer from Hamas. Brent crude futures rose 79 cents, or 0.97%, on the day to $82.42 a barrel by 1446 GMT, while U.S.Read More →
Oil prices gained over two per cent on Thursday, February 8, as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in US fuel stocks. Diplomatic efforts continue, with a Hamas delegation arriving in Cairo on Thursday for ceasefire talks with mediators EgyptRead More →
Brent crude futures rose 45 cents to $79.04 a barrel, while US West Texas Intermediate crude climbed 48 cents to $73.78, according to news agency Reuters. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a February 16 expiry, was last trading 0.62 per cent higherRead More →
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 leaped to their highest level this year on Thursday, September 14, extending its rally as expectations of tighter supply outweighed worries about weaker economic growth and rising US crude inventories. Crude oil has picked up a robust momentum ever since Saudi Arabia and Russia extended their voluntary outputRead More →
Oil marketing companies (OMCs) including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPLC) and Hindustan Petroleum Corp Ltd (HPCL) saw a downgrade in their July-September quarter (Q2) growth outlook after international crude oil prices sharply rose above $91 per barrel. Domestic brokerage firm Kotak Institutional Equities has ‘reduced’ theirRead More →
Oil marketing companies (OMCs) including Bharat Petroleum Corporation Ltd (BPLC) and Hindustan Petroleum Corp Ltd (HPCL) saw a downgrade in their current target prices, a day after international crude oil prices sharply rose above $90 per barrel. Domestic brokerage firm JM Financials has maintained a ‘buy’ rating for BPCL andRead More →
Oil prices continued its gaining streak and opened the first session of September by scoring a seven month-high-mark -the highest in over half a year and were on track to snap a two-week losing streak, buoyed by expectations of tightening supplies. Saudi Arabia is widely expected to extend a voluntaryRead More →
Saudi Arabia will likely roll over a voluntary oil cut of 1 million barrels per day (bpd) for a third consecutive month into October amid uncertainty about supplies and as the kingdom targets drawing down global inventories further, according to analysts quoted in a report by news agency Reuters. TheRead More →
Oil prices are on track to settle lower this week following seven straight week of gains, as China’s economic slowdown – including the latest property crisis, eclipsed signs of a tighter supply. The seven-week upswing in prices, boosted by supply cuts by the Organization of the Petroleum Exporting Countries andRead More →
