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Windfall tax removed on domestically-produced crude oil, halved on diesel exports; here are key takeaways

Windfall tax removed on domestically-produced crude oil, halved on diesel exports; here are key takeaways

Tue, Apr 04, 2023

Windfall tax cut: The windfall tax of Rs 3,500 per tonne on domestically-produced crude oil has been removed, effective immediately. The Centre has halved the levy on diesel to Re 0.5 per litre from Re 1 per litre.

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Oil Prices Hit Seven-Month Low As Recession Fears Weigh On Demand

Oil Prices Hit Seven-Month Low As Recession Fears Weigh On Demand

Thu, Sep 08, 2022

Crude fell to a 7-month low. Brent, WTI crude recovers around 1%. Crude had fallen more than 5% on Wednesday. Brent's price slipped below $89. Watch this video for more details.

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Oil falls on Ukraine peace talk hopes, China demand fears

Oil falls on Ukraine peace talk hopes, China demand fears

Tue, Mar 29, 2022

U.S. crude futures fell on Tuesday, extending losses from the previous day as Ukraine and Russia headed for peace talks and on fears of a drop in fuel demand in China after the financial hub of Shanghai shut down to curb a surge in COVID-19 cases.

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TRENDING NOW

Oil prices nudge up after API data shows surprise drop in U.S. stocks

Oil prices nudge up after API data shows surprise drop in U.S. stocks

Wed, Feb 09, 2022

Oil prices nudged up on Wednesday following two sessions of losses after industry data showed an unexpected drop in U.S. crude and fuel stocks, offsetting concerns of a possible rise in supplies from Iran.  

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Oil slips from 7-year highs ahead of more U.S.-Iran talks

Oil slips from 7-year highs ahead of more U.S.-Iran talks

Tue, Feb 08, 2022

Oil prices eased on Tuesday morning ahead of the resumption of indirect talks between the United States and Iran which may revive a nuclear deal that could lead to the removal of sanctions on Iranian oil sales, increasing global supplies.  

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Oil extends gains above $90/bbl as winter storm sweeps through United States

Oil extends gains above $90/bbl as winter storm sweeps through United States

Fri, Feb 04, 2022

Oil prices climbed on Friday, extending sharp gains in the previous session sparked by persistent supply concerns and as frigid weather cascades across the United States, threatening to further disrupt fragile oil supplies.

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Oil falls on profit-taking after Brent surges to $90 a barrel

Oil falls on profit-taking after Brent surges to $90 a barrel

Thu, Jan 27, 2022

Oil prices fell on Thursday as investors cashed in profits from the 2% gains in the previous session after the U.S. Federal Reserve indicated an interest rate hike in March, leading to a technical correction in surging energy markets.

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Brent prices tick up, trade above $62 as global markets rebound

Brent prices tick up, trade above $62 as global markets rebound

Tue, Feb 13, 2018

Oil prices rose on Tuesday, lifted by a rebound in global stock markets that followed sharp falls last week. US West Texas Intermediate (WTI) crude futures were at $59.44 a barrel at 0103 GMT. That was up 15 cents, or 0.25 per cent, from their last settlement.

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Brent holds above $70 on strong demand, OPEC-led supply restraint

Brent holds above $70 on strong demand, OPEC-led supply restraint

Mon, Jan 29, 2018

Oil markets have been propped up by supply restraint lead by the Organization of the Petroleum Exporting Countries (OPEC) and Russia, which started in January last year and are scheduled to last through 2018.

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