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 edged lower on Tuesday, January 16, as investors weighed the impact of tensions in the Middle East against a stronger dollar and cooled expectations of US interest rate cuts. An escalating shipping crisis in the Red Sea and Iranian missile strikes on targets in Syria and Iraq addedRead More →
Crude oil posted the biggest weekly gain since October as attacks in the Red Sea forced hundreds of ships to take safer but longer routes, delaying the delivery of oil cargoes. Oil prices also eased expectations Angola could increase oil output after leaving the Organisation of Petroleum Exporting Countries (OPEC)Read More →
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 →
Global oil benchmarks headed for their fourth weekly loss on Friday, November 17, but recouped some losses a day after sinking 5 per cent to a four month-low on growing worries about rising supply and cooling demand. Brent futures rose $1.34, or about 1.7 per cent, to $78.76 a barrel.Read 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 →
Oil prices climbed about 3 per cent to a one-week high in the previous session on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies. Early in the session, oil prices soared by more than $2 a barrel after theRead More →
The government has hiked windfall tax on the sale of locally-produced crude oil from ₹6,700 to ₹10,000 per tonne, with effect from September 16. The special additional excise duty (SAED) on aviation turbine fuel (ATF) has been reduced to ₹3.50/litre from ₹4, with effect from September 16, according to notificationRead More →
