Crude Oil Reserves

Oil prices showed marginal recovery on Monday to settle a per cent up at $68.71, following its worst weekly fall since October 2023 as WTI fell 8 per cent and Brent was down 10 per cent.

Crude oil prices at $83.50, hover near two months high driven by the renewed geo-political risk in the middle east and red sea region along with the threat of Hurricane Beryl

The tax, which is revised every fortnight, remained unchanged at zero for diesel and aviation turbine fuel

The WTI holding on to support of $78 in Asian hours, retreating from three weeks high of $79.12. hit on Wednesday

Oil prices are moving higher after posting three straight weekly declines following Opec+ decision on June 2

The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm, an order of the Ministry of Commerce and Industry said on Saturday. At present, crude oil, which is the raw material for producing fuels like petrol and diesel, is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC). In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost". India, the world's third-biggest oil importer and consumer, imports over 85 per cent of its oil needs and has built strategic storages at three locations to store up to 5.33 million tonnes of oil as insurance ...

The company, formerly called Schlumberger, reported net income, excluding charges and credits, of 86 cents per share, for the three months ended Dec 31

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U.S. West Texas Intermediate crude futures gained 10 cents, or 0.13 per cent, to $81.74

The announcement sent US oil futures 0.5% higher to trade above $71 a barrel.

About 93 million barrels of Iranian crude and condensate are currently stored on vessels in the Persian Gulf, off Singapore and near China

Oil settled lower on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever US oil reserves release

This coordinated release of crude oil from strategic reserves will be the first of its kind globally

India plans to release 5 million barrels of crude oil from its emergency stockpile in tandem with the US, Japan and other major economies to cool prices, a top government official said on Tuesday

Democrats in the House of Representatives urged President Joe Biden to release crude oil from the US Strategic Petroleum Reserve (SPR)

Oil prices dropped on Tuesday on growing talks that the United States, Japan and India will release crude reserves to tame prices

Brent crude was down 41 cents, or 0.5%, to $79.87 a barrel by 0712 GMT, after earlier dropping to $79.60, the lowest since Oct. 7

Beijing also said earlier this month it would tap its state fuel reserves to tame the soaring diesel and gasoline prices.

Oil prices were steady on Thursday after falling in the previous session on concerns rising inflation in the United States

Oil prices eased on Thursday on China's plan to release state oil reserves to reduce pressure on domestic refiners and a smaller than expected US weekly crude draw