Oil prices rose by more than 1 per cent on Thursday, November 30 as the The Organisation of Petroleum Exporting Countries and its allies (OPEC+) agreed to output cuts approaching 2 million barrels per day (bpd) for early next year, which includes Saudi Arabia’s voluntary supply reduction. Brent crude futuresRead More →
Oil prices rose on Wednesday, November 29, as investors turned their attention to the output policy decision by the Organisation of Petroleum Exporting Countries and its allies (OPEC+), while supply disruption caused by a storm in the Black Sea combined with lower US inventories to drive buying. Brent crude futuresRead More →
Oil prices declined in the previous session after the release of some hostages in Gaza reduced the geopolitical risk premium, but prices notched their first week of gains in over a month ahead of next week’s output policy decision by the Organisation of Petroleum Exporting Countries and it allies (OPEC+)Read More →
The Asian markets traded mixed, while the US markets were shut for a Thanksgiving holiday. Declining oil prices and ease in US bond yields are likely to support the domestic equities and remain key positives for a broader recovery for the market. The domestic equity market ended flat on ThursdayRead More →
Oil prices declined about 2 per cent on Thursday, November 23, extending losses after the Organisation of Petroleum Exporting Countries and it allies (OPEC+) unexpectedly delayed the policy meeting on output planned for Sunday, raising questions about the future course of crude production cuts. Investors now speculate that the oilRead More →
Oil prices rose on Monday, November 13, after the Organisation of Petroleum Exporting Counties (OPEC) issued a report that countered market concern over waning demand in the United States and China, compounded by mixed signals from the US Federal Reserve. In its monthly report, OPEC said that oil market fundamentalsRead More →
Brent crude futures for January were up 99 cents, or 1.2 per cent, at $81 a barrel at, while US West Texas Intermediate (WTI) crude futures for December were at $76.67, up 93 cents, also 1.2 per cent. Both contracts are set to fall about 5 per cent on theRead More →
Brent crude futures fell $1.68, or 2 per cent, to $79.93 a barrel, and US crude lost $1.78, or 2.3 per cent, to $75.59. Both benchmarks hit their lowest since late July, according to news agency Reuters. Crude is trading below its levels from before the Israel-Hamas war, which hasRead More →
Oil fell by over $3 a barrel on Wednesday, October 4, as demand fears stemming from macroeconomic headwinds offset pledges by Saudi Arabia and Russia to continue crude output cuts to the end of 2023. The Joint Ministerial Monitoring Committee (JMMC) online meeting of the Organisation of Petroleum Exporting CountriesRead More →
Domestic equity benchmarks posted their best day in nearly three weeks on Friday, led by gains in banks and metal stocks, helped by a recovery in US and European markets following a sell-off. Nifty 50 closed the day at 19,638.30, up 115 points, or 0.59 per cent while the SensexRead More →
