Chinese stocks posted their biggest decline in seven months
ONGC and GSPL have registered a breakout and may surge over 20 per cent in the coming sessions, charts show
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
Brent crude futures were up $1.75, or 2.6%, at $68.49 a barrel by 1250 GMT and U.S. West Texas Intermediate (WTI) crude futures climbed $1.49, or 2.3%, to $65.32
Brent crude futures for May rose 83 cents, or 1.2%, to $67.57 a barrel at 0609 GMT
The Organization of Petroleum Exporting Countries (OPEC) and non-bloc producers agreed to allow Russia and Kazakhstan to raise oil output in April
OPEC's leader Saudi Arabia said it would extend its voluntary oil output cut of 1 million barrels per day (bpd), and would decide in coming months when to gradually phase it out
A dollar increase in crude oil prices will push up petrol price by 50 paise and diesel by 150 paise per litre
Retail petrol and diesel prices have been going through the roof
The market had been expecting OPEC+ to ease production cuts by around 500,000 barrels per day (bpd) from April
Pradhan said at the CERAWeek conference by IHS Markit that India, where fuel demand is recovering to pre-pandemic levels, would like to rely on reasonable and responsible oil prices
OPEC+ ministers hold a full meeting on Thursday
he frontline Nifty50 index made a dash for 15,300-mark in the intra-day trade, and hit a high of 15,273.
Brent crude futures rose 24 cents, or 0.38%, to $62.94 a barrel after four days of losses
Yesterday, a report said that the finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record-high domestic prices, quoting three government officials
Brent crude dropped 14 cents or 0.2% to $63.55 a barrel by 1145 GMT, after losing 1.1% the previous day
OPEC Secretary General Mohammad Barkindo said the outlook for oil demand was looking more positive, particularly in Asia
The group meets on Thursday and could discuss allowing as much as 1.5 million barrels per day (bpd) of crude back into the market
At 8.48 pm (IST), Brent crude was trading at $64.65 a barrel, up 0.36 per cent
The approval of Johnson & Johnson's Covid-19 shot also buoyed the economic outlook