Page 7 - Crude Oil Prices

India to drop windfall tax if oil prices fall $40 a barrel: Revenue Secy

The tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1, as the government moves to boost domestic supply and revenue

Top Headlines: GST e-invoicing for firms, corporate earnings in FY23 & more

The central government is planning to make GST e-invoicing mandatory for companies with a turnover of Rs 5 crore and above, a government official said. Read more on this in our top headlines

Statsguru: Six charts explain falling rupee and how it impacts the economy

The Reserve Bank of India has been defending the rupee and has lost a significant amount of foreign exchange reserves

Damocles Sword on oil stocks: Is it time for you to rethink your position?

The government has levied Rs 6 per litre tax on ATF and petrol exports and imposed Rs 13 per litre tax on diesel exports

Rupee falls 18 paise to close at new low of 79.03 against US dollar

At the interbank foreign exchange market, the rupee opened lower at 78.86 against the greenback and finally settled at 79.03, down 18 paise over its previous close.

Global stocks, oil firm as China eases quarantine rules for intl arrivals

Asian shares rose after the announcement and EU stocks were firmly in green which sent the MSCI's benchmark for global stocks into positive territory and on track for its 4th consecutive daily gain

Oil rises almost $2 a barrel, still set for weekly drop on recession fears

U.S. Federal Reserve Chair Jerome Powell said the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes that have weighed on financial markets

World shares progress as investors shrug off data showing slow economies

Market players are looking ahead to U.S. inflation data due next week and hoping that the moderation in prices of oil and some other commodities this week is a sign inflation might be abating.

Crude oil buckles as recession angst rattles commodity investors

While crude has been shaky over the past week, plunging 6.8% on Friday, there's little respite to the tightness in refined fuel markets

As politics shapes policy, India's private fuel retailers run on fumes

quasi-administered price regime and the imposition of Universal Service Obligations is complicating their business plans

World stocks, oil fall as recession fears mount; yen hits 24-yr low on USD

Enthusiasm that had given Wall Street its best day in a month on Tuesday was suddenly gone as Europe suffered a 1.5% morning drop and Brent crude prices plunged 4%.

Oil prices rebound as new Iran sanctions fuel more supply concerns

The market had been lower earlier as interest rate hikes in the United States, Britain and Switzerland fed concerns about a slowdown in global economic growth.

OPEC delegates see global oil demand growth slowing in 2023: Report

High crude prices have eaten into growth projections for 2022 and fed into expectations for slower growth in 2023.

Oil rises on tight global supplies; trade choppy on demand worries

Brent crude rose 68 cents to $122.69 a barrel at 12:13 p.m. EDT (1613 GMT). US West Texas Intermediate crude rose 61 cents to $121.28 a barrel.

Oil dips on Beijing's Covid warning, fears of rate hikes to curb inflation

Brent crude was down $1.86, or 1.5%, to $120.15 at 0907 GMT, while US West Texas Intermediate crude was down $2.15, or 1.8%, at $118.52.

Oil sticks near three-month highs despite new Covid lockdowns in Shanghai

Brent crude futures for August dipped 9 cents to $123.49 a barrel at 0853 GMT, while US West Texas Intermediate crude for July was at $121.89 a barrel, down 22 cents.

Key trading levels to watch out on MCX Crude Oil, Natural Gas futures

The MCX Natural Gas futures are likely to trade with a bullish bias for the remainder of the week as long as prices sustain above Rs 709.50.

Oil inches higher ahead of US inventories data, supported by tight supplies

Oil prices edged up ahead of data on US oil inventories, with crude futures supported by tight supplies and recovering fuel demand as China's top cities relax Covid-19 curbs

Oil tops $120 a barrel on Saudi raising prices despite OPEC+ deal

US West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $118.95 a barrel after hitting a three-month high of $120.99. The benchmark fell by $1 earlier in the session.

Oil prices rise after US crude inventories drawdowns, supply tightness

US crude oil stockpiles fell last week by 5.1 million barrels to 414.7 million barrels, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel drop.