Global Oil Prices

Biden declines public negotiation on Israel's stance on Iranian oil sites

Biden earlier in the day contributed to a surge in global oil prices when he said Washington was discussing strikes on Iran's oil facilities

Oil prices rise almost 2% on fears over hurricane impact on US output

On Thursday the International Energy Agency (IEA) cut its 2024 oil demand growth forecast by 70,000 bpd, or about 7.2 per cent, to 900,000 bpd, citing muted Chinese demand

Oil goes higher as halted Libyan exports levels expected Opec+ supply boost

News of increased production helped push oil prices lower last week but the scale of the sell-off was overdone, said Phil Flynn, an analyst at Price Futures Group

Asian stocks slide, gold rises as Middle East crisis sparks safety rush

Oil prices, however, hardly reacted to the news, as traders had largely priced in a retaliatory attack from Iran that would likely further disrupt supply chains

Rupee turns flat at 83.33 against US dollar amid high crude oil prices

The rupee turned flat at 83.33 against the US dollar in early trade on Thursday amid a strong American currency and higher crude oil prices. Forex traders said the positive equity markets and inflow of foreign funds resisted the fall in the Indian currency. At the interbank foreign exchange, the rupee opened at 83.32 and lost further to trade at the previous closing level of 83.33 against the greenback in initial deals. On Wednesday, the rupee declined 4 paise to close at 83.33 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent higher at 104.07. Brent crude futures, the global oil benchmark, rose 0.53 per cent to USD 86.56 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 170.43 points, or 0.23 per cent, higher at 73,166.74 points. The broader NSE Nifty rose 53.45 points, or 0.24 per cent, to 22,177.10 points. Foreign institutional investors (FIIs) we

Oil prices rises $2 amid West Asia tensions, reduced Libyan output

Brent crude futures rose by $2, or 2.63%, to $78.12 a barrel at 1312 GMT, while U.S. West Texas Intermediate crude futures gained $2.09, or 2.95%, to $72.86 a barrel

Oil steadies on strong US dollar, darkening global macroeconomic outlook

Higher interest rates and a stronger dollar make oil more expensive for holders of other currencies, which could dampen oil demand

Oil gains on demand growth from China, but European inflation remains high

China's seaborne imports of Russian oil are set to hit a record high this month as refiners take advantage of cheap prices

Oil rises on China outlook, supply worries after Turkey earthquake

Brent crude futures were up $1.78, or 2.2%, to $82.77 per barrel at 1042 GMT, while West Texas Intermediate U.S. crude futures rose $1.74, or 2.4%, to $75.88 per barrel

India's share in global oil demand expected to rise to 11%, gas to 500%: PM

Prime Minister Narendra Modi on Monday said that India's share in the global oil demand is expected to increase to 11 per cent, while the gas demand is expected to rise up to 500 per cent.

Global gas demand expected to decline by 65 bn cubic metre in 2022: Gazprom

According to preliminary long-term forecasts, global gas consumption would grow by 20% over the next 20 years

OPEC+ cuts oil output, gas prices soar: What's next for investors?

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

Oil prices rise in early trade after falling 3% in previous session

Brent crude futures rose 83 cents, or 0.8%, to $109.86 a barrel by 0012 GMT. WTI crude futures for August delivery rose 70 cents, or 0.7%, to $106.46 a barrel

ATF prices hiked by 16%, touch new record, as global crude prices soar

The price of aviation turbine fuel (ATF) -- the fuel that helps aeroplanes fly -- has been increased by Rs 19,757.13 per kilolitre, or 16.26%, to Rs 1,41,232.87 per kl (Rs 141.2 per litre) in Delhi

Oil prices extend losses as Shanghai lockdowns hit demand outlook

Brent crude futures slid $1.90, or 1.8%, to $104.75 a barrel at 0015 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell $1.89, or 1.9%, to $100.18 a barrel

Oil falls 4% to below $100 per barrel on worsening China demand outlook

Brent crude for June delivery was down $3.93, or 3.8 per cent, at $98.85 a barrel by 1130 GMT

Oil slips as Kazakh supply concerns ease, EU at odds on Russia embargo

Brent crude fell $1.29, or 1.1%, to $117.74 a barrel at 1049 GMT and U.S

Oil prices steady as Western leaders meet over Ukraine crisis

Benchmark Brent was up 0.3% at $121.95 a barrel by 1111 GMT, after falling by close to $2 earlier in the session

Global stocks ease as Ukraine fighting rages on, oil prices climb

Most share markets rallied last week in anticipation of an eventual peace deal on Ukraine, but it could take actual progress to justify further gains

Diesel price for bulk users hiked Rs 25/litre; pvt retailers fear closure

The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40% rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said