Global Crude Oil Price

Russian refining runs rose by 2 per cent, or by 108,000 barrels, to 754,800 metric tons a day on Jan 15-19 from the first week of the year, according to the sources

On Wednesday, Brent crude was down around 1.2 per cent to $76.16/bbl, while US West Texas Intermediate crude fell around, or 1.05 per cent, to $73.47/bbl

Attacks by Iran-backed Houthi rebels since October 2023 on ships crossing the Suez Canal have hurt sales of transport fuel shipments from India

While the September inflation print may see a significant pick-up as base effects turn adverse and food prices register an upturn, food inflation, the RBI said, is expected to ease by Q4:2024-25

At 6:30 AM, GIFT Nifty Futures were trading 39 points lower at 25,079 levels, indicating a weak start for the Indian bourses.

At 6:40 AM, GIFT Nifty futures were trading 89 points higher at 25,262 levels, suggesting a robust opening for the markets.

US Secretary of State Antony Blinken on Monday said the latest diplomatic push by Washington to achieve a ceasefire deal in Gaza was "probably the best, maybe the last opportunity"

U.S. job growth slowed more than expected in July as unemployment increased to 4.3 per cent, pointing to possible weakness in the labor market and greater vulnerability to recession

Oil prices could fall back to early June level of $72.50 as demand side fundamental are looking weak due to abysmal economic performance of China, says technical analyst Mohammed Imran.

War in Gaza has lent support to oil prices as investors priced in the risk of potential disruptions to global crude supply in the key producing region of the Middle East, but peace now seems close

With the U.S. market shut on Thursday for the Independence Day holiday, trading was thin and there was no settlement for WTI, but prices have risen this week on strong summer demand expectations in US

Oil majors are also under pressure from institutional investors to cut emissions

On the daily chart, MCX Gold for August is hovering near its trend line support. A break below 70,750 could signal bearish sentiments, the analyst said

Brent crude edged higher toward $78 a barrel Friday, but is set to close 2023 about $8 below where it started the year

The US and a host of other nations are creating a new force to protect ships transiting the Red Sea that have come under attack by drones and ballistic missiles fired from Houthi-controlled areas of Yemen, Defence Secretary Lloyd Austin announced early Tuesday in Bahrain. The seriousness of the attacks, several of which have damaged the vessels, has led multiple shipping companies to order their ships to hold in place and not enter the Bab el-Mandeb Strait until the security situation can be addressed. This is an international challenge that demands collective action, Defence Secretary Lloyd Austin said in statement released just after midnight in Bahrain. Therefore today I am announcing the establishment of Operation Prosperity Guardian, an important new multinational security initiative. The United Kingdom, Bahrain, Canada, France, Italy, Netherlands, Norway, Seychelles and Spain will join the US in the new mission, Austin announced. Some of the countries will conduct joint patrol

Oil rose more than 1% on Monday as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruptions.

A cruise missile launched from Houthi-controlled Yemen struck a commercial chemical tanker, causing a fire and damage but no casualties in the latest such attack to heighten safety risks for tankers

OPEC+ negotiations over production quotas have often been difficult in the past. Oil production tends to vary month by month, making it difficult to fix on a permanent production target.

State-owned fuel marketing companies are likely to revert to daily revision in prices of petrol and diesel only when international oil prices stabilise below USD 80 per barrel on a sustained basis, industry officials said. Three state-owned fuel retailers -- Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 20th month in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in the first half of 2022-23 fiscal year before easing rates propelled them to profitability. "There is considerable volatility in the international oil market and prices fluctuate wildly," an official said. "Oil companies can cut prices by Re 1 per litre and everyone will applaud. But when international oil prices go up, will they be allowed to raise rates remains in doubt." India is the

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