IEA projection of rising demand for oil adds to New Delhi's worry
Consumption in the first quarter of 2021 will be 600,000 barrels a day lower than previously thought, the agency said as the coronavirus outbreak continues to impede people's movements
The next milestone for Brent prices is a rise above $60, a level not seen since late January 2020.
Brent crude fell as much as $1 per barrel on Monday, to trade around $55. Oil prices shed about 20% in 2020.
Brent oil prices rose to the highest since February after Saudi Arabia agreed to make bigger cuts in output than expected during a meeting with allied producers
Analysts and investors have been wondering if the same will happen to Europe's Brent oil futures
Monday and Tuesday have been two of the most turbulent days in the history of oil trading, as investors confronted the reality that worldwide supply will overwhelm demand for months or years
Chances of huge defaults by investors, many of whom are retail traders gone long; On Nymex, there were actual trades in minus in which sellers were actually paying buyers to lift stocks
As global oil demand plummets, Saudi Arabia is struggling to find customers for its extra oil, undermining its bid to seize market share by expanding production
The decline in the US market in the last 10 days is the largest ever for the contract since it was introduced in 1983
Petrol in Delhi now costs Rs 70.29 per litre and diesel Rs 63.01 a litre
Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia
Downbeat sentiments saw USD-INR exchange rate test past 72 to two-month high, while the benchmark equity indices witnessed mayhem on Monday
India's imports from Iran has already gone down to 1.7 million tonne in the current financial year, from 23.9 mt in 2018-19
S&P Global Platts sees India's oil demand growing by 170,000 b/d next year as economic growth is expected to pick up, says Hickin
Barclays sees Brent trading near $60 a barrel for two years
Brent crude oil, soya bean, kapas and almonds futures on the cards
Brent is set for a fifth straight week of gains, following the US announcement that it won't renew waivers for countries to import Iranian crude after May 2
Brent futures, the international benchmark for oil prices, were at $61.15 per barrel, up 21 cents
OPEC failed to agree to a clear oil-output strategy on Thursday as Iran insisted on raising production to regain market share lost during years of sanctions