Brent Oil

Others, too, believe that $100 a barrel could become a reality

Oil on Monday rose by more than 1% on optimism over Chinese demand, which analysts expect to rebound this year after COVID-19 curbs that had limited use were scrapped

Brent crude oil prices have slipped nearly 15 per cent in the last few weeks, from a peak of around $98 a barrel to a little over $83 a barrel now despite OPEC+ cutting supply

Brent for October settlement reached a three-week high, trading up $1.30, or 1.3%, at $101.52 a barrel by 0850 GMT. U.S. crude was up $1.18, or 1.3%, at $94.92 a barrel.

Prices rose more than 1% during the previous session, although Brent at one point fell to its lowest since February, as signs of a slowdown mounted in some places

Oil fell on Wednesday to a 6 month low after a brief respite as concerns about the prospect of recession that would weaken demand overshadowed a report showing lower US crude & gasoline stocks

By Noah Browning

CLOSING BELL: The Nifty IT index was the only gainer, up 0.45 per cent

The easing of China's COVID-19 lockdowns also supported prices, as investors grew more optimistic about demand from the world's second-largest economy.

The Russia-Ukraine crisis has sprung up worries for the sector yet again as analysts say margins of chemical companies will be impacted due to the rise in prices of crude oil

Brent crude of $120 a barrel, Credit Suisse estimates, could add $60 billion to India's import bill. Price rises for gas, coal, edible oils and fertilisers could add another $35 billion.

A sustained rise in oil, food prices would have adverse impacts on Asia's economies. India, Thailand and the Philippines are the biggest losers, while Indonesia would be a relative gainer, Nomura said

Though analysts believe diplomatic efforts will continue leading to a stabilisation and an eventual easing of these tensions, it may take several months for this to happen

Oil prices rose on Monday, with Brent crude futures at their highest in more than three years, as investors bet supply will remain tight amid restrained output

Oil fell in tandem with other financial markets on fears that the new variant could slow economic growth and restrict movement again

Brent still trading near three-year high; WTI set for ninth weekly gain

Brent crude oil futures settled down 53 cents or 0.6% at $84.33 a barrel after hitting $86.04, their highest since October 2018

Business Standard brings you the top stories from today

Natural gas and coal prices rally to record peaks as traders brace for winter crunch

Brent crude futures were up 44 cents, or 0.6%, at $72.66 a barrel at 1338 GMT, having earlier touched $72.83, the highest since May 20, 2019.