Page 5 - Oil Prices

Oil India surges 5%, hits 52-week high on rising oil prices, strong outlook

The company's prospects remain strong over FY24E / FY25E driven by steady increase in oil & gas output, and greater monetisation opportunities in gas via the imminent NE grid commissioning

Oil prices fall as high-interest rate outlook outweighs tight supply

Meanwhile, the U.S. dollar hit a 10-month high on Tuesday, as higher bond yields attracted investors towards the greenback

We're excited about equities in current economic scenario: Rahul Singh

Consumption slowdown is a concern, although profitability margins are being protected due to softness in input prices, said Singh

Skid marks may appear in Street as oil prices wear out tyre stocks

Margins have likely peaked in Q1 as commodity headwinds start to bite

Fiscal pressures building up; risks for the markets are rising: Jefferies

As a stock strategy, they have shifted consumer staples to underweight, and moved weight (bought into) to Bharti Airtel in their model portfolio

Oil prices rises as expected supply cuts offset inflation concerns

The continuing supply cuts could lift Brent futures above the $100 a barrel threshold before the end of the year, Bank of America analysts said on Wednesday

Oil prices jump 2% to near 10-month high as Opec predicts tight supplies

Brent futures rose $1.64, or 1.8%, to $92.28 a barrel by 11:15 a.m. EDT (1515 GMT). U.S. West Texas Intermediate (WTI) crude rose $1.91, or 2.2%, to $89.20

Mid, smallcap indices hit record high. Why are markets ignoring oil prices?

India has been substituting expensive crude oil with cheaper imports. This has helped keep inflation-related concerns triggered by rising oil prices at bay

Sensex soars 385 pts, ends atop 66K; Nifty reclaims 19,700; L&T, banks lead

CLOSING BELL ON SEPTEMBER 07, 2023: The S&P BSE benchmark index has now gained 1,434 points, and the Nifty 473 points in the last five straight trading sessions.

GAIL to tap spot LNG markets to meet increased demand of electricity

"We have been servicing the demand for the last one month also. Demand is already there," he said

Crude oil ticks up as supply concerns outshine macroeconomic jitters

The jitters follow a fire at a Marathon Petroleum refinery last week, after a chemical leak ignited two giant storage tanks filled with volatile naphtha

Oil prices stabalies as China economic fears counter tight US supply

Brent crude futures edged up 6 cents to $84.95 a barrel by 11:35 a.m. EDT (1535 GMT), while U.S. West Texas Intermediate crude (WTI) fell 2 cents higher to $80.97 a barrel

Oil prices drop over 1% due to intensifying pressure of Chinese economy

China's industrial output and retail sales data on Tuesday showed the economy slowed further last month, intensifying pressure on already faltering growth

ONGC's Q1 net profit drops 34% on back of lower oil prices, output

The net profit of Oil and Natural Gas Corporation (ONGC) fell over 34 per cent in June quarter on decline in oil prices and lower output, the firm said. Net profit of Rs 10,015 crore in April-June (first quarter of current 2023-24 fiscal year) compared to Rs 15,206 crore earning in the same period last year, the company said in a statement. ONGC, India's top crude oil and natural gas producer, earned USD 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of USD 108.55 per barrel last year. Oil prices globally had risen sharply in April-June 2022 after Russia's invasion of Ukraine led to uncertainties over supply and demand. Crude oil pumped out of below ground and seabed is refined in refineries to produce petrol, diesel and other fuels. Natural gas is used to generate electricity as well as burn kitchen stoves and run automobiles (CNG). Gross revenue fell 20 per cent to Rs 33,814 crore. ONGC said crude oil production was 3.2

Oil prices fall as China woes offset boost from high US fuel demand

Brent crude fell 20 cents, or 0.2%, to $87.35 a barrel by 0006 GMT, after settling at its highest since Jan. 27 in the previous session

Surging prices: Indian refiners push the envelope on Russia crude oil

With Urals crude prices on the rise, refiners are negotiating for bigger discounts and alternative currencies for payment

India working on enhancing oil refining capability: Oil Minister Puri

India maintained "affordability" of petroleum products notwithstanding disruptions in the global energy markets and the hike in prices of petrol and diesel in the last two years has been marginal compared to several large economies and neighbouring nations, Oil Minister Hardeep Singh Puri said on Friday. In an interaction with a group of reporters, he also slammed the opposition for attacking the government on oil prices saying the states ruled by it are selling petrol and diesel at higher rates compared to those governed by the BJP which significantly cut the VAT on petroleum products to bring down the rates. The oil minister also said that India is in the process of expanding its oil refining capabilities. India is already the world's fourth largest refining hub and we are going to end up as the second largest refining place, Puri said while highlighting the Modi government's success in areas of trade and foreign policy. "PM Modi's governance is transforming our foreign policy, .

After outlier record high global diesel cracks in 2022, margins plunge

A crash in global cracks in April-June this year will shrink profits of refiners when compared with the outlier period of last year, an analysis of data and industry experts said

Oil prices rise as mild US inflation data calms fear of Fed rate hike

Oil prices also drew support from a weaker dollar and optimism surrounding Chinese stimulus, said Fiona Cincotta, senior financial markets analyst at City Index

Oil drops 1% as market frets about risk of US interest rate hike

OPEC upbeat over 2024 oil demand outlook despite slowdown