Crude oil prices pared some gains on Friday, June 28, but were on track for a weekly gain as investors weighed poor US fuel demand, but US inflation data for May boosted hopes for sooner interest rate cuts by the US Federal Reserve. Crude oil benchmarks gained almost six per […]
crude oil price
In the fourth and last week of June, investors will keenly eye any Union Budget-related or government policy announcements as they may result in stock-specific action. Domestic and global macroeconomic indicators, foreign fund inflow, crude oil prices, and global cues will drive market movement this week. The Indian stock market […]
Brent futures rose four cents, or 0.1 per cent, to $85.75 a barrel, while US West Texas Intermediate (WTI) crude for August delivery remained unchanged at $81.29 from where it closed on Thursday. That put Brent on track for its highest close since April 30 for a second day in […]
Oil prices remained steady on Tuesday as traders awaited signs of increased summer demand that could support prices, despite concerns about ample supply potentially limiting gains. Benchmark Brent crude futures were unchanged at $84.23 per barrel at 1231 GMT, following an increase in the previous session. Meanwhile, U.S. West Texas […]
Oil prices surged approximately 2% to reach a one-week peak on Monday, driven by optimism surrounding increased fuel demand anticipated during the summer months, despite the strengthening of the U.S. dollar and expectations that the Federal Reserve (Fed) will maintain higher interest rates for an extended period. Brent futures climbed […]
‘’We believe that OMCs are effectively cushioning all the impact of the oil price, product crack, logistics cost, and currency fluctuations. Furthermore, we do not expect OMCs to have any pricing power on petrol, diesel, and liquified petroleum gas or LPG (~80-85 per cent of sales volume) in Q1FY25,” Pokharna […]
Oil prices dropped by over $2 per barrel on Monday to reach multi-month lows, fueled by investor concerns regarding the demand trajectory. The complex OPEC+ output decision signaled a willingness among member countries to increase crude exports. On Sunday, OPEC+ extended the majority of its significant oil output reductions until […]
Oil prices saw a slight increase in subdued trading due to public holidays in Britain and the United States. This followed a week marked by concerns over U.S. interest rates amidst persistent inflation. The Brent crude July contract rose by 76 cents to $82.88 per barrel by 1411 GMT, while […]
Oil prices fell on Thursday for the fourth session in a row, as the prospect of higher-for-longer U.S. interest rates raised worries around demand growth in the world’s biggest oil market. Brent crude oil futures were down 45 cents, or 0.6%, at $81.45 a barrel by 11:50 am ET (1550 […]
Oil prices increased during early Asian trading on Monday, extending last week’s gains. This rise occurred amid the search for Iran’s president following a helicopter crash in the oil-producing country and the U.S. purchase of crude to replenish its national stockpile. By 0049 GMT, Brent crude had climbed 26 cents, […]