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Commodity Capsule: Oil Prices Climb as US Crude Stockpiles Drop

Commodity Capsule: Oil Prices Climb as US Crude Stockpiles Drop

Thu, Jan 25, 2024

How are bullion, agricultural commodities, and industrial metals faring today? We bring you the latest updates from the world of commodities.

Commodity Capsule: Oil Prices Slip as Demand Concerns, Dollar Strength Offset Geopolitical Tensions

Commodity Capsule: Oil Prices Slip as Demand Concerns, Dollar Strength Offset Geopolitical Tensions

Wed, Jan 24, 2024

How are bullion, agricultural commodities, and industrial metals faring today? We bring you the latest updates from the world of commodities.

Major Gulf markets mixed on muted oil prices, regional tensions

Major Gulf markets mixed on muted oil prices, regional tensions

Tue, Jan 23, 2024

The United Arab Emirates president has issued a law establishing an artificial intelligence and advanced technology council, the Abu Dhabi Media Office said on Monday.

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Oil surges as non-OPEC, OPEC producers agree on output cuts; dollar strong

Oil surges as non-OPEC, OPEC producers agree on output cuts; dollar strong

Mon, Dec 12, 2016

Oil prices jumped more than 5% on Monday after OPEC and non-OPEC producers agreed to curb oil output and ease a global glut, while the US dollar extended gains ahead of an expected rate hike this week.

Oil markets jittery ahead of OPEC meeting later in day

Oil markets jittery ahead of OPEC meeting later in day

Wed, Nov 30, 2016

Oil markets were jittery on Wednesday ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply that has seen prices more than halve since 2014.

Saudi oil minister says OPEC production cut 'imperative'

Saudi oil minister says OPEC production cut 'imperative'

Sun, Nov 13, 2016

"In this period marked by unstable oil prices it is imperative to reach a consensus between OPEC nations and to agree on an effective mechanism and precise figures to activate the historic Algiers accord," Faleh was quoted as saying by Algeria`s APS news agency.

Kuwait launches foreign bond sale to finance deficit

Kuwait launches foreign bond sale to finance deficit

Sun, Nov 06, 2016

Oil income contributed around 95 percent of public revenues in those years. During the past two years, oil has lost around 60 percent of its value.

Oil rises on reported US crude inventory draw, expected OPEC cut

Oil rises on reported US crude inventory draw, expected OPEC cut

Wed, Oct 19, 2016

Oil prices rose over 1% on Wednesday, lifted by a report of falling US crude inventories and an OPEC statement saying a planned production cut was achievable, but analysts warned that Chinese economic data could erode bullish momentum.

Oil edges up as analysts say market could be closer to balance than expected

Oil edges up as analysts say market could be closer to balance than expected

Tue, Oct 18, 2016

Oil prices rose early on Tuesday as some analysts said markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.

Oil prices dip but stay near 1-year highs on expected output cut

Oil prices dip but stay near 1-year highs on expected output cut

Tue, Oct 11, 2016

Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year peak, after Russia and Saudi Arabia both said a deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members like Russia in curbing crude output was possible.

ONGC, Oil India making losses on natural gas production

ONGC, Oil India making losses on natural gas production

Sun, Oct 02, 2016

State-owned ONGC and Oil India are making losses on natural gas production after government cut rates for the fourth consecutive time to bring down selling price to below the cost of production.

Goldman says OPEC deal to add as much as $10 to H1 2017 oil prices

Goldman says OPEC deal to add as much as $10 to H1 2017 oil prices

Thu, Sep 29, 2016

WTI was trading around $47 a barrel, after gaining more than 5 percent on Wednesday on OPEC`s planned output cut. [O/R]

Global oil glut set to last at least until mid-2017: IEA

Global oil glut set to last at least until mid-2017: IEA

Tue, Sep 13, 2016

A global oil glut that has hurt producers but means cheaper pump prices for consumers looks set to go on at least six months longer than previously thought, the International Energy Agency said Tuesday.

Asian stocks at one-year high as soft US macro data quells Fed hike talk

Asian stocks at one-year high as soft US macro data quells Fed hike talk

Wed, Sep 07, 2016

The euro rose 0.96% against the dollar, the biggest daily gain in three months on Tuesday and last stood at $1.1247.

Trade deficit narrows to $7.7 billion despite nearly 7% decline in exports

Trade deficit narrows to $7.7 billion despite nearly 7% decline in exports

Fri, Aug 12, 2016

Exports in July 2016 declined by 6.84% to $21.6 billion (Rs 1.45 lakh crore) from $23.2 billion (Rs 1.48 lakh crore) in the same month a year ago.

IEA cuts oil demand forecast on Brexit impact

IEA cuts oil demand forecast on Brexit impact

Thu, Aug 11, 2016

The IEA said Thursday it had cut its oil demand growth forecast for 2017 because of a weaker outlook for the world economy following Britain`s vote to leave the European Union.

Oil falls on oversupply as calls for producer talks draw scepticism

Oil falls on oversupply as calls for producer talks draw scepticism

Wed, Aug 10, 2016

"Oil eased lower as another round of proposed production freeze talks by OPEC failed to excite investors," ANZ Bank said.

Oil takes breather from losses but oversupply concerns remain

Oil takes breather from losses but oversupply concerns remain

Tue, Aug 02, 2016

Global fuel inventories are brimming as refineries have churned out huge volumes of diesel, gasoline and jet fuel but the supply glut has diminished profit margins and demand has been unable to keep up with supply.

India will lead regional oil demand growth, OPEC says

India will lead regional oil demand growth, OPEC says

Wed, Jul 13, 2016

Global oil demand is expected to remain at the same levels as last year, OPEC said in its Monthly Oil Market Report on July 12, 2016. However, India is expected to pull up demand.

Brent oil pushes above $50 for first time in nearly seven months

Brent oil pushes above $50 for first time in nearly seven months

Thu, May 26, 2016

U.S. crude stocks fell 4.2 million barrels to 537.1 million in the week to May 20, the steepest weekly drop in seven weeks, the U.S. Department of Energy`s Energy Information Administration said on Wednesday.

Iraq reaches deal with International Monetary Fund for $5.4 billion loan

Iraq reaches deal with International Monetary Fund for $5.4 billion loan

Thu, May 19, 2016

Under the arrangement, and subject to the approval of the IMF executive board, Iraq could have access to IMF credit amounting.

Barter deal: India eyes oil-for-drugs plan with Venezuela

Barter deal: India eyes oil-for-drugs plan with Venezuela

Wed, May 18, 2016

India, one of the world`s biggest oil importers along with the United States and China, had similarly elaborate barter deals with Iran.

Oil nears $50; is the party over?

Oil nears $50; is the party over?

Wed, May 18, 2016

International Brent crude futures were trading at $49.36 per barrel at 0644 GMT, 8 cents above their last settlement. U.S. West Texas Intermediate crude futures were 11 cents higher at $48.42 a barrel.

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