Page 10 - Oil Prices

Jet fuel price slashed by 2.3% as international oil price softens

Jet fuel (ATF) price was on Thursday reduced by 2.3 per cent, reflecting softening international oil prices but petrol and diesel rates remained on freeze for a record eighth month in running. Aviation Turbine Fuel (ATF) price was cut by Rs 2,775 per kilolitre, or 2.3 per cent, to Rs 1,17,587.64 per kl in the national capital, according to a price notification of state-owned fuel retailers. The rate reduction, which will provide relief to airlines for whom fuel makes for almost 40 per cent of the operating cost, comes on the back of a Rs 4,842.37 per kl, or 4.19 per cent, reduction last month. ATF price is revised on the 1st of every month based on the average rate of international benchmark and foreign exchange rates. Petrol and diesel prices, however, continued to remain on freeze for a record eighth month in a row. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62. State-owned fuel retailers are supposed to revise petrol and diesel prices dai

Russia not bothered by oil price cap; will negotiate with partner nations

Russia on Thursday said it was not bothered at a possible price cap on its crude oil proposed by the West, saying Moscow will negotiate directly with its partners like India and China as the price should be decided between the producers and consumers, and "not someone who just decided to punish someone." Members of the G7 have agreed to impose a price cap on Russian oil in a bid to hit Moscow's ability to finance the war in Ukraine. Countries want to reach an agreement ahead of December 5, when Europe's embargo on Russian crude travelling by sea takes effect. Russian Foreign Minister Sergey Lavrov told a press conference on European security issues that Moscow was not bothered about the price cap set to be imposed by the West on its oil exports. "We are not interested in what the price cap will be, we will negotiate with our partners directly, and the partners who continue to work with us will not look at these caps and will not give any guarantees to those who illegally introduce .

Oil price edges higher on tight supply, China demand recovery optimism

Oil prices nosed ahead in early Asian trade, lifted by signs of tighter supply and by optimism over a Chinese demand recovery

Oil up over $2 on tighter supply but likelihood of OPEC+ talks limit gains

Brent crude futures rose $2.22, or 2.67% to $85.25 per barrel by 1340 GMT. The more active February Brent crude contract rose by 3.35% to $87.07

ICICI Bank, HUL, ITC help lift Sensex 177 pts, Nifty above 18,600; PSBs dip

CLOSING BELL: The S&P BSE Sensex hit a fresh life-time high at 62,887, and the Nifty 50 registered a new summit at 18,678 on Tuesday.

India's crude import basket at 10-month low but pump prices to remain high

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

Oil prices erase 2022 gains as China's protests spark demand worries

Oil prices fell close to their lowest this year on Monday as street protests against strict COVID-19 curbs in China, the world's biggest crude importer, stoked concern over outlook for fuel demand

EU heads for December agreement for proposed price cap on imported gas

Any agreement on the European Commission's proposal to cap the price of imported gas will be postponed until the middle of December, said Jozef Sikela, the Czech minister of industry and trade

Oil inches up in early trade amid wrangling over Russian oil price cap

Brent crude futures inched up 13 cents, or 0.2%, to trade at $85.47 a barrel at 0121 GMT

We should see core inflation dipping: RBI MPC member Ashima Goyal

Core inflation is calculated by largely stripping away the volatile components of food and fuel. Goyal was referring to certain products that have linkages with oil prices

Oil prices rise to near $90/bbl on account of US crude stock drop

Brent crude futures rose $1.03, or 1.17%, to $89.39 a barrel at 0941 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.06%, to $81.81 a barrel

Indian markets are likely to underperform peers in the short-run: Analysts

Among the lot, US equities still have a lot of room to catch up as the US Federal Reserve (US Fed) slows its pace of rate hikes, analysts say

Oil prices ease to trade near 2-month lows on China demand fears

Brent crude futures for January had slipped 65 cents, or 0.7%, to $86.97 a barrel by 1000 GMT

Oil falls as Russian shipments via Druzhba pipeline to Hungary restart

In China, rising Covid-19 cases weighed on sentiment after an easing of virus restrictions this week

Oil prices surge after incident involving commercial vessel off Oman coast

In China, rising Covid-19 cases weighed on sentiment after an easing of virus restrictions this week

Indian refiners becoming wary of buying Russian oil as EU sanctions loom

Chinese refiners have already begun slowing down Russian oil imports from next month

Oil prices fall $1 on surging Covid cases in China, firmer US dollar

Covid-19 cases climbed in China over the weekend, with Beijing and other big cities on Monday reporting record infections

Oil prices jump by over 2% as China eases some coronavirus restrictions

Brent crude futures rose $2.39, or 2.6%, to $96.06 a barrel by 0745 GMT, extending a 1.1% rise in the previous session

Oil prices plunge 3% on US inventory build, China Covid-19 worries

Brent crude futures settled at $92.65 a barrel, shedding $2.71, or 2.8%, while U.S. West Texas Intermediate (WTI) crude futures settled at $85.83 a barrel, dropping $3.08, 3.5%

Oil prices decline on US crude inventory build, China Covid worries

Brent crude futures fell 74 cents, or 0.7%, to $94.62 a barrel by 1201 GMT