Oil prices edged up in early Asian trade after a 1% dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook
Oil prices fell on Thursday as gasoline inventories in the US, the world's largest oil consumer, rose for a fifth consecutive week although a draw in crude stockpiles helped to underpin prices
Oil prices rose nearly 2% on Tuesday after more U.S. states eased lockdowns and the European Union sought to attract travellers, though soaring Covid-19 cases in India capped gains
Oil prices fell on Monday as a catastrophic second wave of a coronavirus epidemic in India cut short a recovery in oil demand there, offsetting optimism about a strong rebound in demand
Sebi imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender's AT-1 bonds few years ago
Crude has been hit by rising volatility in recent sessions, with WTI swinging between gains and losses last week
China's industrial output growth quickened in January-February
China's industrial output growth quickened in January-February, beating expectations, while its daily refinery throughput data rose 15% from the same period a year ago, data showed
Brent futures rose $2.62, or 3.9%, to settle at $69.36 a barrel. The session high for the global benchmark was its highest since January 2020
Organization of the Petroleum Exporting Countries and allies, known as OPEC+, has more than 7 million barrels of daily oil output sitting in reserve
U.S. West Texas Intermediate (WTI) crude CLc1 futures jumped $1.10, or 1.8%, to $62.60 a barrel
IEA projection of rising demand for oil adds to New Delhi's worry
Prices also gained support from a larger-than-anticipated draw in the US crude oil inventories
Oil has been supported by OPEC+ supply curbs, Saudi Arabia's additional cuts and hopes of a demand rebound due to COVID-19 vaccinations
Hopes for more U.S. stimulus and an easing of coronavirus lockdowns helped support the rally, after prices gained around 5% last week
Crude stocks last week fell for a third straight week, dropping 6.6 million barrels to 469 million barrels, their lowest since March
Brent was up 68 cents, or 1.2%, at $60.02 a barrel by 1442 GMT, while US West Texas Intermediate rose 68 cents, or 1.2%, to $57.53 a barrel
U.S. West Texas Intermediate crude futures for March advanced 60 cents, or 1.1%, to $57.45 a barrel, the highest since January last year
Brent crude futures climbed 45 cents, or 0.8%, to $59.28 a barrel, after hitting a high of $59.32, its highest since Feb. 20 last year. Brent is on track to rise 6% this week
CME has raised margin for silver to push back any more speculative moves