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oil prices News
Oil rises amid surging China crude imports, US sanctions
Wed, May 08, 2019
OPEC is due to meet in June at its headquarters in Vienna, Austria, to decide its output policy for the rest of the year.
Oil prices near 2019 highs after US ends Iran sanction waivers
Tue, Apr 23, 2019
Oil prices hovered near 2019 peaks in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May.
Oil prices dip on global growth worry, possible output rise
Wed, Apr 10, 2019
Oil fell from five-month highs on Tuesday after the International Monetary Fund cut its global economic growth forecasts and as Russia signalled it may retreat from its production-cutting deal with OPEC.
Oil prices near 2019 highs ahead of official US weekly data
Wed, Mar 20, 2019
Oil prices held close to four-month highs on Tuesday on expectations that OPEC would continue production cuts through the end of the year and ahead of official weekly U.S. crude inventory data.
Elections, USD strength and oil price to determine rupee direction: Report
Sun, Dec 30, 2018
"In our assessment, consumer price inflation (CPI) is likely to average 4 per cent in 2019. Benign food inflation, positive base effects, recent correction in oil prices and INR stability is likely to keep inflationary pressures under check," it said.
Oil prices steady near year-and-a-half lows ahead of New Year
Sat, Dec 29, 2018
Oil prices steadied on Friday after a week of volatile trading ahead of the New Year holiday, supported by a rise in U.S. equity markets but pressured by worries about a global glut of crude.
Oil prices edge up to $50 after steep slide
Wed, Dec 26, 2018
Oil prices have edged up to $50 a barrel on Wednesday after reaching its lowest since June 2017 on perceptions that a price slide prompted by worries over the global economy had been overdone amid an Opec-led effort to tighten supply. Watch video:
Oil prices claw back some losses after ''Black Friday'' plunge
Mon, Nov 26, 2018
Oil prices on Monday clawed back some losses from a nearly 8-percent plunge the previous session, but Brent failed to hold above $60 per barrel amid generally weak financial markets.
Oil hits 2018 lows on emerging supply glut, OPEC expected to cut
Fri, Nov 23, 2018
Oil prices slumped to 2018 lows on Friday in choppy trading, pulled down an emerging crude supply overhang amid a bleak economic outlook.
Big relief for Modi govt from oil prices now!
Fri, Nov 23, 2018
"The recent decline in oil prices might compress the CAD by around $5 bn-$6 bn from our estimates of $78 bn in current fiscal. This will imply CAD settling down at 2.6 per cent of GDP (previously 2.8 per cent). Additionally, if crude averages $65 and rupee stays at 70, then petrol and diesel prices could fall further on average by Rs 4 or more," the report said.
Oil prices down 20 percent in a month as fundamentals weaken
Fri, Nov 09, 2018
Oil markets on Friday remained weak as rising supply and concerns of an economic slowdown pressured prices, with U.S. crude now down by 20 percent since early October.
PM Narendra Modi says high oil prices hurting global economic growth, seeks review of payment terms
Mon, Oct 15, 2018
India, the world's third-biggest oil consumer, has been over the past two months battered by high crude oil prices that have sent retail petrol, diesel and LPG rates to record high, posed inflationary risks and together with a sliding rupee threatened to upset its current account deficit. Also, unrelenting fuel price rise since mid-August has negated cut in taxes and subsidy.
Petrol, diesel at new heights; these 6 factors impact India's fuel prices
Mon, Sep 10, 2018
Fuel prices in India are continuing to rise, so much so, that they have reached levels that have never been witnessed before. This is the outcome of boiling crude oil prices.
Petrol, diesel continues to boil; this is why govt needs to cut excise duty
Mon, Sep 10, 2018
Finance Minister Arun Jaitley gave a non-committal speech on trimming excise duty as a move to cushion fuel prices.
Brent oil prices rise for second day, buoyed by fall in US inventories
Wed, Jul 25, 2018
Brent crude was up 29 cents, or 0.4 percent, at $73.73 a barrel by 0035 GMT. The global benchmark settled 38 cents higher at $73.44 a barrel on Tuesday, after climbing as high as $74.
Oil steady as U.S.-Iran row balances trade worries
Tue, Jul 24, 2018
Oil prices steadied on Tuesday as tension between the United States and Iran highlighted risks to supply and trade disputes raised prospects for slower economic growth and weaker energy demand. Brent crude oil was unchanged at $73.06 a barrel by 1145 GMT. U.S. light crude was 35 cents higher at $68.24.
Oil prices fall on demand concerns as G20 warns of risks to growth
Mon, Jul 23, 2018
Economic growth and oil demand growth are closely correlated as expanding economies support fuel consumption for trade and travel, as well as for automobiles. U.S. energy companies last week cut the number of oil rigs by the most since March as the rate of growth has slowed over the past month or so with recent declines in crude prices.
Oil rises to $79 a barrel on Norway strike, Libyan disruption
Tue, Jul 10, 2018
Oil prices rose by over 1 percent towards $79 per barrel on Tuesday due to growing supply outages, with Norway shutting one oilfield as hundreds of workers began a strike and Libya saying its production more than halved in recent months.
After 4th consecutive cut, OMCs stick to diesel rate status quo today; check rates of metro cities
Wed, Jun 27, 2018
With many state elections expected in the late 2018s, it has become very important for the NDA government to bring relief on fuel product prices, which were at record high last month.
OMCs keep petrol price unchanged today; This is what you pay in Delhi, Mumbai, Kolkata, Chennai
Wed, Jun 27, 2018
From May 30, the OMCs are cutting petrol prices despite Brent crude hovering near $73 per barrel.