Browsing Tag
crude oil
62 posts
Crude Oil Price tops $80 a Barrel for the First Time in Seven Years
A global shortage of gas and soaring gas prices have further boosted the rally in oil prices, amid signs that some energy users are switching to burning oil as it is now cheaper than gas.
Iraq’s crude oil exports exceed 89 million barrels in May
BAGHDAD, June 2: Iraq’s Ministry of Oil said on Tuesday that the country exported 89.88 million barrels of…
Fuel prices record 16th hike this month
Domestic fuel retailers raised petrol and diesel rates on Saturday, even as international crude oil prices fell on Friday because of the strengthening dollar. Benchmark Brent crude on Friday closed at $66.13 per barrel, down by 1.12%.
OPEC allows Russia, Kazakhstan to raise output
Kazakhstan will boost its production by 10,000 bpd to 14,27,000 bpd in February and by another 10,000 bpd to 14,37,000 bpd in March.
Brent hits highest since March, spurred by coronavirus vaccine hopes
This follows positive trial results from Pfizer/BioNTech and Moderna.
Crude oil: Biden presidency likely to be a huge win for the Middle East
A Biden win will likely be an upward catalyst for oil prices because it will increase costs for shale patch and will likely result in a weaker U.S. dollar, the report said.
Intl crude prices decline further on Trump’s corona report
On Friday, prices further declined after Trump announced that he and First Lady Melania Trump have tested positive for the infection.
Govt may consider halving cess on domestic crude
The changes would also provide a level playing field to domestic companies as imported crude does not attract cess.
Diesel at record high in Delhi post Rs 8.88/l hike in 15 days
Petrol prices also have witnessed a continuous rise of 15 days and have already increased by Rs 7.97 per litre during the period. On Sunday, the fuel was sold for Rs 79.23 a litre, 35 paise higher from the previous level.
Petrol, diesel prices increase over Rs 4/litre in a week
Since the dynamic price revision resumed on June 7, prices of petrol and diesel have increased by Rs 4.52 and Rs 4.64 per litre respectively.
Oil Prices Stage a Modest Recovery as Demand Rises and Supply Drops
In April, the WTI crude fell below zero and turned negative for the first time ever owing to the lack of storage.
Centre raises excise duty on petrol, diesel by historic levels
New Delhi, May 5 : The government has taken the opportunity provided by unusually low global oil prices…
US dollar climbs amid risk-averse sentiment
The U.S. dollar rose to 0.9699 Swiss franc from 0.9678 Swiss franc, and it increased to 1.4199 Canadian dollars from 1.4133 Canadian dollars.
US to add 75mn barrels of oil to strategic petroleum reserve
As of Friday, the SPR held 635 million barrels of crude oil, including 384.7 million barrels of sour crude and 250.3 million barrels of sweet crude.
Crude price worsens on Covid-19 concerns, poor Chinese ecodata
Global markets have been on a bear run including the financial markets for the past few weeks owing to the concerns of a significant impairing of the world economy due to the coronavirus crisis.
Russia, US, Saudi agree to coordinate actions on oil market stabilization
As a result, the oil price plummeted to $22 per barrel which is the sharpest fall in 20 years.
Share profit from fuel with Public: Congress
New Delhi, April 6 : The Congress has asked the government to share the “profit” of Rs 20…
IGL announces reduction in CNG & PNG prices
New Delhi, April 2: In a major relief to customers facing lockdown in wake of Covid-19 pandemic, Indraprastha…
Duty up on petrol & diesel; consumers may be spared from big price hike
Additionally, road and infrastructure cess on the two products has also been raised by Rs 1 per litre to Rs 10 per litre, effectively increasing the central duty on petrol and diesel to Rs 3 per litre. The new rates are effective from March 14.
Low crude rates to boost valuation of govt share in BPCL
New Delhi, March 12 : The government could hope to get much better valuation for its share in…
Sensex closes 1941.67 points lower, at 35,634.95
Banking stocks slide to 13-month low amid fallout from YES Bank crisis
Brent lowest in 7 weeks amid nCoV concern in China
New Delhi, Jan 25 : Oil futures came down sharply on fears that the spread of the deadly…
Petrol price over Rs 75/litre in Delhi, diesel up too
New Delhi , Petrol and diesel prices continued their upward trend on Monday as per the daily pricing…
Slowdown now hits oil sector; petrol, diesel consumption falls
The slowdown is coming at a time when international environment is very favourable, in terms of pricing of crude oil.
OPEC, Russia formalize cooperation pact
The OPEC+ group had agreed to a six-month round of output cuts in December that lifted oil prices by as much as 22 per cent by April.
Kuwait supports stability, balance of oil markets
Kuwait City, June 28 (IANS) Kuwait supports all efforts aimed at restoring stability and balance of the oil…
Oil prices jump nearly 4% over attack on oil tankers
As a result of attack on oil tankers, the rupee also lost 16 paise to close at Rs 69.51 per dollar from its previous close of 69.35.
Petrol, diesel prices go up on Sunday
New Delhi, March 3 (IANS) Transport fuel rates continued to increase on Sunday in tandem with global crude…
Petrol, diesel see big price hikes on Sunday
Petrol and diesel prices have increased by more than Rs 2 per litre each during January.
Petrol, diesel prices down for 3rd consecutive day
In tandem with petrol, the cost of diesel declined on Saturday across all metros in a range of 12-13 paise.
No respite for common man as fuel prices rise again
Mumbai, Oct 9 : Petrol and diesel prices in Mumbai are being sold at Rs 87.73 per litre…
Petrol Price hiked in Mumbai and Delhi
Mumbai, Oct 7 : Petrol prices surged again on Sunday, days after the BJP-led Central government cut excise…
Petrol costlier across metros; climbs to Rs 87.15 in Mumbai
As per the data, the fuel was priced at Rs 87.15 in Mumbai, Rs 83.52 in Kolkata and Rs 84.89 per litre in Chennai.
Petrol nears Rs 90/litre in Mumbai, over Rs 82 in Delhi
New Delhi, Sep 17 (IANS) Domestic fuel prices continued to scale new heights on Monday, with the price…
Has BJP found free crude oil source, asks Chidambaram
Taking a dig at the BJP President Amit Shah’s claim that the Centre was looking at ways to…
Petro Shock: Anatomy of Petroleum Prices
Modi Govt may have been blaming the rising international crude prices for the current rise in the prices…
Petrol, diesel prices hit new highs, rise for 9th consecutive day
New Delhi, Sep 3 (IANS) Prices of petrol and diesel, already at unprecedented levels in the country, rose…
Rupee movement, trade tensions to set course of equity indices
Mumbai, Sep 2 (IANS) Escalating geo-political tensions following further trade protectionist measures, coupled with high crude oil prices…
Congress flays government over excise duty on petroleum products
New Delhi, Aug 29 : Hitting out at the Narendra Modi government for the rise in petroleum prices,…
Oil prices rises after sharp declines
New York, Aug 18 (IANS) Oil prices continued to rise slightly on Friday after slumping over 2 per…
Slide in crude prices lift indices; Nifty regains 11k-mark
Mumbai, July 17: Slide in global crude oil prices along with expectations of fund infusion into public sector banks…
Rupee movement, macro-data insight to drive equity market
It closed at 68.47, weaker by 63 paise from its previous week's close of 67.84 per greenback.
Saudi Arabia agrees to boost oil production: Trump
Washington, July 1 (IANS) US President Donald Trump said on Saturday that the King of Saudi Arabia, Salman…
US Sanctions against Iran to push oil prices to $90 a barrel – analysts
Washington's tough stance against the Islamic Republic, along with reported declines in US stockpiles, has already driven American crude prices to the highest level since 2014.
Oil drops after OPEC+ output deal, but markets to stay tight
Prices initially jumped after an OPEC deal to increase output was announced late last week, as it was not seen boosting supply by as much as some had expected.
Oil prices rally after OPEC meeting
Vienna, June 23 (IANS) Oil prices surged as investors were closely watching the Organization of the Petroleum Exporting…
Market Review: Amid volatility equity indices end week with marginal gains
Mumbai, May 26: The key Indian equity indices settled with marginal gains in the week ended Friday after largely…
Hike in petrol, diesel prices continues
Petroleum Minister Dharmendra Pradhan on Monday said that the government was looking at ways to keep rising fuel prices in check.
Petrol price at Rs 74.50 a litre in Delhi, highest since September 2013
New Delhi, April 23: Petrol prices rose for the fifth consecutive day on Monday to Rs 74.50 per…
Diesel price hits all-time high, petrol price highest in 4 years
New Delhi, April 1: Petrol price on Sunday hit a four-year high of Rs. 73.73 a litre while…
Petrol prices hit Rs 73 per litre in Delhi, highest since July 2014
New Delhi, Feb 1: Petrol prices approached a three-and-a-half-year high in Delhi on Thursday at Rs 73.05 per litre.…
Possibilities of hike in Petrol & Diesel prices, indicates Economic Survey
New Delhi, Jan 29: Chief economic advisor (CEA) Arvind Subramanian on Monday warned about growing global risks like…
Government pocketing profits as crude oil prices fall, says Kharge
New Delhi, Jan 4: Congress leader Mallikarjun Kharge on Thursday questioned the government on why the benefit of lower…
Govt reduces basic excise duty on petrol, diesel by Rs 2 per litre
New Delhi, Oct 3: The government on Tuesday reduced Basic Excise Duty rate on Petrol and Diesel (both…
Abu Dhabi to help India fill its strategic oil reserves
New Delhi, Jan 25 India’s quest for energy security got a major push on Wednesday after a pact…
OPEC daily basket price closes lower
Vienna, June 28 : The price of OPEC’s basket of 13 crudes slipped to $44.32 a barrel on Monday,…
OPEC daily basket price closes lower
Vienna, April 15 (IANS/WAM) The price of OPEC’s basket of 13 crudes slipped to $38.58 a barrel on…
Oil prices drop amid ample supply
Oil prices dropped as market expected that global supply exceeded the demand. The West Texas Intermediate for April…
OPEC daily basket price closes higher
Vienna, Feb 26 : The price of OPEC’s basket of thirteen crudes stood at $29.19 a barrel on Thursday,…
Rebound in oil prices, equities to stiffen rupee: Experts
Rebound in equity markets, coupled with strengthening crude oil prices and hopes of an interest rate cut are…
Wipro skids as crude oil prices sink
Software services major Wipro took a massive hit in the energy sector as crude oil prices sank and…
OPEC daily basket price closes lower
The price of the OPEC basket of twelve crudes stood at $31.26 a barrel on Thursday, compared to…