Page 8 - Crude Oil Price

Copper, Crude Oil: Check key trading strategy, target price and more

On the daily chart, MCX Copper has been unable to sustain the breakout of its rising channel pattern and has moved down, forming a lower high, lower low pattern, indicating bearish sentiment

WTI, Brent crude oil prices enter 'oversold' zone; check levels for June 6

Commodity outlook: The economic slowdown has already been priced in by the markets and we expect limited downside in oil prices

Oil market headed for bearish times on softening global economic conditions

Given the above-mentioned developments, we believe that the oil market is heading lower in the short to medium term due to softening of global economic conditions

Govt cuts windfall tax on petroleum crude to Rs 5,200 per MT from Rs 5,700

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

Crude Oil, Copper: Check key trading strategy, target price and more

OPEC is expected to extend its production cuts in an upcoming meeting, which has recently helped both WTI and Brent to break above their 100-day moving averages

Crude oil: 4 factors keep outlook bullish for WTI; check near-term strategy

Crude oil price outlook: WTI short term resistance is at $82 for the day, while short term trading range should be in range of $77-$82

Rupee falls 22 paise to close at 83.40 against US dollar on crude prices

The rupee settled 22 paise lower at 83.40 against the US dollar on Wednesday, tracking a negative trend in domestic equities, elevated crude oil prices, and foreign fund outflows. Forex traders said dollar demand from importers and oil marketing companies (OMCs) also weighed on the rupee. However, foreign inflows in the bond markets ahead of inclusion on India's government bonds in global bond index cushioned the downside. At the interbank foreign exchange market, the local unit opened at 83.22 and finally settled for the day at 83.40, down 22 paise from its previous close. On Tuesday, the rupee pared initial gains to settle 5 paise lower at 83.18 against the US dollar. "We expect the rupee to trade with a slight negative bias on month-end dollar demand from OMCs and importers to meet their obligations. Risk aversion in global markets and a strong US dollar may further pressurize the rupee," said Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas. However, fresh foreign

Crude oil strategy for May 28: WTI futures eye breakout above $80 hurdle

Crude oil outlook and strategy: Analyst at Sharekhan believes buying WTI crude on correction would be a good strategy for the day

India's robust LNG imports standout in Asia, higher prices concern looms

Growth in Asia's third-largest economy likely slowed to an annual 6.7 per cent in January-March, more in line with the long-term GDP growth rate

Commodity play book: Sell May Copper futures, Buy June Oil futures

Commodity trading: Copper prices have dropped 7 per cent since Monday's record high, with a significant intraday drop due to profit-taking

India's use of crude tankers to export diesel to European Mkts slows in May

While more April shipments from India to Europe provided a floor for Asian margins, fewer such voyages in May will likely compel Indian refiners to shift diesel sales back to Asia

Oil to trade rangebound amid lack of bullish triggers; check key MCX levels

Brent crude oil outlook: Brokerage firm Sharekhan expects prices to trade in a broader range of $75-$80/b unless there is any major changes in terms of macroeconomics or geo-politics

Crude Oil, Natural Gas: Check key trading strategy, target price

Despite ongoing conflicts and lower demand growth expectations, oil prices remain steady

India's crude oil import bill soars as Russian discount halves since Feb

India's crude oil import reliance hit a record 87.8 per cent in FY24 and is expected to rise in FY25 due to growing demand and stagnant domestic production

Crude oil to trade in narrow range ahead of Opec meeting; check key levels

Crude oil outlook: Crude oil prices are expected to trade in a fairly tight range ahead of the key OPEC+ meet on June 1

Impact of Iranian President Raisi's death on oil, gold and stock market

Oil prices shot up following the news of Raisi's helicopter crash in Asian Markets; OPEC and its allies are expected to meet on June 1

Oil prices climb amid uncertainty over Iran President Raisi's fate

A helicopter carrying Iranian President Ebrahim Raisi crashed on Sunday, Iranian officials said

Lower crude oil prices likely to tilt imports towards Iraq and UAE

As of April, India imported more than 1.72 mn barrels per day from Russia

India's WPI-based inflation reaches 13-month high of 1.26% in April

April 2024 WPI: Prices of crude petroleum & natural gas and food articles witnessed a surge in April 2024 compared to March 2024, while prices of non-food articles and minerals saw a decline

Crude oil prices steady, signal bearish outlook in near term; here's why

Crude oil prices have corrected significantly after posting 16 per cent gains for Q1-2024. However, since April the oil prices have lost roughly 7 per cent of their value, amid the easing of tensions