Page 10 - Crude Oil

Bias for MCX Crude Oil still negative; Upside seems capped for Natural Gas

The MCX Crude Oil futures are likely to trade with a negative bias as long as the commodity trades below Rs 8,200. Whereas, Natural Gas futures face near resistance around Rs 604.

Govt cuts windfall tax on fuel exports as global crude oil prices fall

India imposed the taxes on July 1, joining a growing number of nations placing windfall levies to tap energy companies' booming profits

Top Headlines: Windfall tax review, rising medical devices import and more

India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China. Read more in our top headlines

Rupee closes just 2 paise shy of 80 against US dollar as oil prices rise

Crude oil prices jumped on Monday as US President Joe Biden's talks with West Asian countries failed to culminate in an agreement to increase output

Broader crude oil price trend likely to force review of windfall tax

A windfall tax is a one-off tax levied on companies deemed to have made unreasonably high profits, normally due to unusually favourable market factors

Crude oil prices up 2.5% as no immediate Saudi output boost expected

The comment during U.S. President Joe Biden's Middle East visit comes at a time when spare capacity at members of the Organization of the Petroleum Exporting Countries (OPEC) is running low.

Sensex snaps 4-day losing run, up 345 pts; Nifty tops 16K; Auto, FMCG lead

CLOSING BELL: Tata Consumer Products, Titan, Eicher Motors, HUL, Tata Motors, Maruti, M&M, Nestle India, HDFC, L&T, and BPCL topped the charts

Global recession fears may ease inflationary pressures: Govt report

Review released by ministry also said that global headwinds would continue to pose downside risk to growth as crude oil and edible oils, remain major imported components

RIL, ONGC gain amid report govt may lower windfall tax on fuel on Friday

On the bourses, shares of RIL jumped 2.4 per cent in the intra-day trade, while those of ONGC rose 6.4 per cent.

Oil prices tick down in early trade as inflation woes take centre stage

Brent crude futures for September fell 20 cents, or 0.2%, to $99.37 a barrel by after gaining 8 cents on Wednesday.

The state-level political dynamics behind the windfall tax on fuel exports

Gujarat has the highest percentage of private oil pumps at 24%, followed by Rajasthan at 14.5%; the former will elect a new legislative assembly by this December, the latter, a year later

Sensex slips 372 points, Nifty below 16K; Reliance, HDFC twins sink 2%

The BSE Sensex fell 372 points at close to 53,514. The index had previously risen 325 points to the day's high.

Key support for MCX Crude Oil at Rs 7,550; Natural Gas may be range-bound

The MCX Crude Oil futures has near support at Rs 7,550, below which it can slide towards the 200-DMA. Natural Gas need to sustain above the 20-DMA to maintain its positive bias.

India's current account deficit likely to touch $105 bn this fiscal: Report

In the report on Tuesday, Bank of America (BofA) Securities revised upwards its Current Account Deficit (CAD) forecast by 0.4 percentage points for this financial year.

The emerging stress in imports: Surprisingly, it's coal more than oil

Surprisingly, its coal more than oil that is emerging as a huge pressure point

Sensex snaps 3-day bull run, dips 87 pts; Airtel, TCS shed 5%, PSBs soar

CLOSING BELL: Adani Group shares rallied up to 12 per cent on the BSE in Monday's intra-day trade, in otherwise a weak market, amid the group's foray into telecom business

Nuberg Engineering to build Rs 650 cr SRU project at IOCL's Koyali refinery

Last year IOC had signed an MoU with Gujarat for adding petrochemical and lube plants to its previously announced plans to expand crude oil processing capacity at the refinery

RBI takes steps to attract foreign flows, says growth prospects stay strong

RBI said that despite the headwinds from geopolitical developments, elevated crude oil prices and tighter external financial conditions, high frequency indicators point to an ongoing recovery in sever

Bulls are back: Equities rebound over 1%; crude below $100 per barrel

Reversal in FPI selling buoys sentiment

Sensex ends 617 pts up, Nifty near 16K; Bajaj twins gain 5%, HUL 4%

Despite a 0.8 per cent fall in heavyweight Reliance, Bajaj twins, HUL, Asian Paints, Maruti, Titan, Kotak Bank and Nestle led the upmove on the Sensex, moving up to 4.8 per cent higher.