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Oil flat after bigger-than-expected build in U.S. crude stockpiles

Oil flat after bigger-than-expected build in U.S. crude stockpiles

Wed, Jul 12, 2023

Oil prices were largely unchanged in early Asian trade on Wednesday as hopes for higher demand in the developing world and supply cuts by the world's biggest oil exporters offset fears of an economic downturn driving up U.S. crude stockpiles.

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Oil climbs after US leaders strike provisional debt deal

Oil climbs after US leaders strike provisional debt deal

Mon, May 29, 2023

U.S. energy firms cut rigs for a fourth week in a row, with oil rigs down by five to 570 last week to their lowest since May 2022, energy services firm Baker Hughes Co (BKR.O) said in its weekly report on Friday.

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Oil falls more than 2% as investors weigh recession risk

Oil falls more than 2% as investors weigh recession risk

Thu, Jun 23, 2022

Meanwhile, U.S. President Joe Biden called on Congress to pass a three-month suspension of the federal gasoline tax to help combat record pump prices and provide temporary relief for American families this summer.

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TRENDING NOW

Oil edges lower as mass COVID testing begins in China

Oil edges lower as mass COVID testing begins in China

Thu, Apr 28, 2022

Oil prices edged lower in early Asian trade on Thursday as concerns about rising coronavirus cases in China, the world`s biggest oil importer, weighed on futures markets.

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Oil drops on Ukraine peace talk hopes, China demand fears

Oil drops on Ukraine peace talk hopes, China demand fears

Tue, Mar 29, 2022

Oil prices dropped 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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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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Oil rises to 7-year high as Turkey outage adds to tight supply outlook

Oil rises to 7-year high as Turkey outage adds to tight supply outlook

Wed, Jan 19, 2022

Oil prices rose for a fourth day to a seven-year high as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates.  

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Oil skids on concerns of rising surplus in Q1

Oil skids on concerns of rising surplus in Q1

Fri, Nov 26, 2021

Oil prices slid more than 1% on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States.

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Brent crude price drops below USD 78 per barrel first time since start of October

Brent crude price drops below USD 78 per barrel first time since start of October

Mon, Nov 22, 2021

The price of January futures for Brent crude dropped below $78 per barrel in the early hours of Monday, reaching a record low for the first time since October 1.

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Oil rises on expectation high natural gas to drive switch for heating

Oil rises on expectation high natural gas to drive switch for heating

Thu, Oct 14, 2021

Oil prices rose on Thursday, reversing previous losses, on expectations that high natural gas prices as winter approaches may drive a switch to oil to meet heating demand needs.  

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Crude oil prices expected to remain elevated in medium term: HDFC Securities

Crude oil prices expected to remain elevated in medium term: HDFC Securities

Sat, Oct 02, 2021

Accordingly, the brokerage house`s report, cited that Brent crude price which is currently at more than $75 per bbl has been driven by recovery in global demand with opening up of economies.  

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Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries

Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries

Tue, May 28, 2019

OPEC and some allies including Russia are due to meet on June 25 and 26 to discuss output policy.

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Brent oil hits 2019 high above $72 on China growth, lower US inventories

Brent oil hits 2019 high above $72 on China growth, lower US inventories

Wed, Apr 17, 2019

Global supply has been tightened further by U.S. sanctions on OPEC members Venezuela and Iran. 

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Fuel price cut: Petrol, Diesel get cheaper

Fuel price cut: Petrol, Diesel get cheaper

Sun, Apr 07, 2019

Fuel prices in the country are based on a 15-day average of global crude prices and the rupee-US dollar exchange rate.

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Oil price above tolerance threshold, end Asian Premium: India to OPEC

Oil price above tolerance threshold, end Asian Premium: India to OPEC

Fri, Jun 15, 2018

As two Asian giants that accounted for 17 per cent of global oil consumption last year, India and China held formal talks in Beijing earlier this week on forming an oil buyers` club. Pradhan has earlier this year proposed an alliance between Indian and Chinese state-run oil companies to have a greater say in the market. 

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Brent crude oil held at $50 a barrel

Brent crude oil held at $50 a barrel

Fri, Jun 03, 2016

Brent oil prices held around $50 a barrel on Friday following an OPEC meeting that failed to agree on output targets, but which was seen as supportive as Saudi Arabia pledged not to flood the market with more fuel.

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