Oil Prices Jump

Sustained higher crude oil prices and gas realisations can result in better profitability for upstream oil and gas companies, analysts said

Brent crude futures rose 65 cents, 0.7%, to $95.32 a barrel at 0155 GMT. The contract was on track to end the week down just 0.5%

Brent crude rose 56 cents, or 0.6%, to $96.25 a barrel by 1057 GMT. U.S. West Texas Intermediate (WTI) crude gained 41 cents, or 0.5%, to $88.32

Benchmark Brent crude futures rose by 44 cents to $93.70 a barrel by 11:03 a.m. EDT, while U.S. West Texas Intermediate crude futures rose by 77 cents to $85.35

Brent crude futures gained 15 cents, or 0.2%, to $93.52 per barrel by 1340 GMT after settling 1.7% up in the previous session.

U.S. crude futures rose 46 cents, or 0.6%, to $84.09 a barrel, having gained more than 5% in the previous session.

Crude soared in early 2022, with Brent coming close to its all-time high of $147 in March after Russia invaded Ukraine, adding to supply concerns

Oil prices jumped more than $1 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to tweak production and support prices at a meeting later in the day

Oil prices rose more than $3 a barrel on Monday, extending last week's gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar

Russia's squeeze on gas shipments in the wake of Moscow's invasion of Ukraine is hurting industries across Europe

Oil has soared in 2022, coming close in March to an all-time high of $147 after Russia's invasion of Ukraine exacerbated supply concerns

Japan's trade deficit for the first half of this year totaled nearly 8 trillion yen because of surging oil prices and a sinking yen, brought on partly by the war in Ukraine, and weaker global demand

Oil prices have risen backing on Chinese expectations as it unlocks cities. Even though US inventory hikes, oil prices rose parallely, possibly due to a strike by Norwegian workers.

US crude notched a sixth weekly gain on tight U.S. supply, which has prompted talk of fuel export curbs or a windfall tax on oil and gas producers.

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.

In line with the unexpected industrial output decline, China processed 11% less crude oil in April, with daily throughout the lowest since March 2020.

Empirical analysis of past 17 market corrections in excess of 10 per cent, according Antique Stock Broking, suggests that market recoveries are swift with entire losses getting recouped in 3-6 months

On the NSE, the Nifty50 index touched an intra-day low of 15,711 before settling at 15,863, down 382 points or 2.35 per cent

European stock indexes were in their second day of falls, with the STOXX 600 down 0.7% at 0857 GMT, while Germany's DAX was down 1.2% on the day

European stock indexes were in their second day of falls, with the STOXX 600 down 0.7% at 0857 GMT, while Germany's DAX was down 1.2% on the day