Brent crude futures settled up 71 cents at $90.45 per barrel, while US West Texas Intermediate (WTI) crude futures rose 64 cents to $85.66. For the week, Brent declined 0.8 per cent, while WTI dropped more than one per cent. Coming to domestic prices, crude oil futures settled 0.04 perRead More →
Morgan Stanley has raised its Brent crude oil price forecast for the third quarter of this year by $4 per barrel to $94, citing geopolitical risks. “That the degree of geopolitical risk in key oil producing regions has increased recently seems clear and uncontroversial,” said the leading investment bank inRead More →
Oil prices fell on Wednesday, April 10, after US government data showed earlier today that crude oil and fuel inventories rose by much more than expected on weak demand and lower oil exports. US crude stocks climbed by 5.8 million barrels in the week ended April 5, more than doubleRead More →
The April 3 policy decision by OPEC+ led to a spike in international crude prices to their highest in five months. With the spike in prices, benchmark Brent crude futures is currently trading at $90 per barrel, a level last seen in October 2023. Also Read: Expert View | OilRead More →
Global crude oil prices dropped on Thursday, April 4, as caution over global macroeconomic activity weighed against the supply output cuts as well as geopolitical conflicts. Investors continue to look to macroeconomic data and monetary policy for potential clues on the outlook for oil demand, while financial sanctions on IranRead More →
The Organisation of Petroleum Exporting Countries and its allies (OPEC+) will conduct its joint ministerial monitoring committee meeting (JMMC) on Wednesday, April 3, led by oil producing majors Saudi Arabia and Russia, shortly after crude oil prices hit their highest this year. OPEC+ members will review the market and members’Read More →
International crude oil prices rebounded and rose by more than $1 per barrel on Thursday, March 28, after falling for two consecutive sessions ahead of the policy decision by the Organisation of Petroleum Exporting Countries (OPEC). Investors anticipated tighter supplies given the producer alliance is widely expected to stay theRead More →
Global crude oil prices rose sharply by 5.9 per cent over the past month crossing the $86 per barrel mark for the first time since November 2023 –responding to seasonal tightening in physical markets, supply cut extensions, and a pick-up in geopolitical tensions. According to a report by ICICI BankRead More →
International crude oil prices again hit a four month-high mark on Tuesday, March 19, after breaking above range-bound trading last week, but gains were limited by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity. The Brent crude oil futures contract wasRead More →
International crude oil prices rose two per cent on Wednesday, March 13, after Ukrainian attacks on Russian refineries threatened supply disruptions and a decline in US crude inventories supported prices. Energy Information Administration (EIA) data revealed that US crude stockpiles dropped by 1.5 million barrels to 446.99 million barrels inRead More →
