Page 10 - Oil Prices
10-yr bond yield logs biggest weekly fall; gold set to sizzle, oil rises
The benchmark 10-year bond yield ended at 7.16 per cent, after closing the previous session at 7.19 per cent
 "10-yr bond yield logs biggest weekly fall; gold set to sizzle, oil rises")
Gas firms seek price deregulation as city distribution targets fall behind
Regulator warns them of losing bank guarantees as investors show little interest in gas economy
 "Gas firms seek price deregulation as city distribution targets fall behind")
Oil drops 2% as markets mull OPEC+ cuts' efficacy, macroeconomic slowdowns
Brent crude futures fell $1.59, or 2.06%, to $75.61 a barrel by 1454 GMT. US WTI crude futures fell by $1.67, or 2.31%, to $70.65 a barrel
 "Oil drops 2% as markets mull OPEC+ cuts' efficacy, macroeconomic slowdowns")
Sensex leaps 493 pts, Nifty ends at record closing high of 20,268
Closing Bell on Friday, December 1, 2023: The Nifty 50 index scaled a new peak of 20,291.55 in the intraday trade
 "Sensex leaps 493 pts, Nifty ends at record closing high of 20,268")
Saudi Aramco forecast to cut oil price to Asia as competition heats up
The state-owned Saudi Arabian producer will reduce the official selling price of Arab Light by $1.05 a barrel for January from the previous month, according to the median estimate
 "Saudi Aramco forecast to cut oil price to Asia as competition heats up")
Crude oil prices rise on weak dollar, expectations for OPEC+ output cuts
Brent crude futures were up 11 cents, or 0.1%, at $80.09 a barrel at 0510 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading 4 cents higher, also 0.1%, at $74.90 a barrel
 "Crude oil prices rise on weak dollar, expectations for OPEC+ output cuts")
Oil tumbles 4% as Opec+ meeting on output cut 'unexpectedly' delayed
Opec+ delayed its ministerial meeting to Nov 30 from Nov 26 as previously scheduled, Opec said in a statement, a surprise development that gave no reason for the postponement
 "Oil tumbles 4% as Opec+ meeting on output cut 'unexpectedly' delayed")
'Waiting for the thank you': S Jaishankar on India softening oil markets
At an event in London, Jaishankar said that India's approach to oil purchases prevented a surge in global oil prices, preventing potential competition with Europe in the market
 "'Waiting for the thank you': S Jaishankar on India softening oil markets")
Centre cuts windfall tax on crude oil to Rs 6,300/tonne, halves for diesel
Windfall tax: The levy on the export of jet fuel and petrol will continue to be zero
 "Centre cuts windfall tax on crude oil to Rs 6,300/tonne, halves for diesel")
Oil price falls on high US production, despite strong demand signals
In signs of healthy U.S. crude supply, American Petroleum Institute figures on Tuesday showed rising crude oil and gasoline inventories last week
 "Oil price falls on high US production, despite strong demand signals")
New Samvat 2080: A year of hope for industrial and precious metals
So far, the rally in gold prices, driven by conflict in West Asia, is not sustaining because the US appears to have deterred Iran from escalating the conflict through its proxies
 "New Samvat 2080: A year of hope for industrial and precious metals")
Oil wavers on weak demand outlook in US and China, Fed hedging
Prices gained nearly 2% on Friday as Iraq voiced support for oil cuts by OPEC+, but lost about 4% for the week, recording a three-week losing streak for the first time since May
 "Oil wavers on weak demand outlook in US and China, Fed hedging")
Oil sputters to three-month lows as demand concerns mount in US, China
Brent crude futures fell $1.68, or 2%, to $79.93 a barrel by 11:00 am EST (1600 GMT). US crude lost $1.78, or 2.3%, to $75.59. Both benchmarks hit their lowest since late July
Crude oil dives 3% to lowest since July on demand worry, strong dollar
Brent crude futures fell $2.95, or 3.5%, to $82.23 a barrel as of 1:41 p.m. ET (1841 GMT). U.S. West Texas Intermediate crude fell to $77.94 a barrel, down $2.88, or 3.6%
 "Crude oil dives 3% to lowest since July on demand worry, strong dollar")
Oil prices up 1.5% as Saudi Arabia and Russia stick to supply cuts
Oil was rebounding after both benchmarks lost about 6 per cent in the week to November 3
 "Oil prices up 1.5% as Saudi Arabia and Russia stick to supply cuts")
Oil at $110 could prompt RBI to hike interest rate again: Morgan Stanley
As the world's third-biggest consumer of oil, India is one of the most exposed economies in Asia to rising crude prices
 "Oil at $110 could prompt RBI to hike interest rate again: Morgan Stanley")
OMCs unlikely to cut pump prices in 2023 despite windfall gains: Officials
Petrol prices unchanged for record 18 months now, OMCs continuing facing under recoveries
 "OMCs unlikely to cut pump prices in 2023 despite windfall gains: Officials")
Sensex slips 248 pts, Nifty near 19,600; Bajaj Auto zooms 6.5%, Nestle 3.5%
Closing Bell on Thursday, October 19, 2023: Bajaj Auto, LTIMindtree, and Nestle India were the top gainers, soaring 6.5%, 6%, and 3.5%, respectively, post their September quarter results
 "Sensex slips 248 pts, Nifty near 19,600; Bajaj Auto zooms 6.5%, Nestle 3.5%")
Crude oil fall below $90 per barrel on report of US-Venezuela deal
Brent futures were down 59 cents, or 0.67%, at $90.27 a barrel at 10:30 CDT (1532 GMT). U.S. West Texas Intermediate (WTI) crude fell by 0.29 cents, or 0.37%, to $87.30 a barrel
High oil prices pose challenge to economic revival in many countries: Puri
E20 fuel is now being sold in more than 5000 pumps nationwide, the Petroleum Minister said
 "High oil prices pose challenge to economic revival in many countries: Puri")