Page 19 - Crude Oil

Amid tapering fears, rising imports, rupee to face pressure next week

Global anxieties along with rising imports and persistently high crude oil prices will weaken the Indian rupee in the coming week.

Oil prices scale six-week high as Hurricane Nicholas hits US Gulf

Oil prices hit a six-week high on Tuesday as Hurricane Nicholas weakened into a tropical storm, bringing the threat of widespread floods and power outages

Oil prices rise to six-week high as US supply concerns dominate

Oil prices rose to a six-week high on Monday as US output remains slow to return two weeks after Hurricane Ida slammed into the Gulf Coast

Here's why US crude oil supplies took such a big hit from Hurricane Ida

The damage to offshore platforms, pipelines and even helipads was so severe that two out of every three barrels of crude normally pumped from the U.S. sector of the Gulf of Mexico are unavailable.

Oil prices rise today amid slow supply return after Hurricane Ida

MELBOURNE (Reuters) - Oil prices rose on Wednesday, paring overnight losses, with producers in the U.S. Gulf of Mexico struggling to restart operations nine days after Hurricane Ida swept through.

Oil steady as Ida outages offset Saudi Arabia's cuts in crude prices

Oil held steady with Saudi Arabia's cut in crude prices for Asian buyers raising the prospect of fierce competition among sellers

Fossil fuels can still see a price boom in the decarbonisation era

The current price spike has multiple sources

Oil extends losses after deep cuts to Saudi crude prices for Asia

Brent crude futures for November fell 57 cents, or 0.8%, to $72.04 a barrel by 0101 GMT while U.S. West Texas Intermediate crude for October was at $68.73 a barrel, down 56 cents, or 0.8%

OPEC+ sticks to agreed schedule for oil-production increases

Ministers ratified the 400,000 barrel-a-day supply hike scheduled for October after less than an hour of talks, one of the quickest meetings in recent memory

OPEC+ seen sticking to existing policy despite higher oil demand

OPEC and its allies will likely stick to their existing policy of gradual oil output increases, four sources said on Wednesday, even though the group revised up its 2022 demand outlook

Oil heads for its biggest monthly loss this year ahead of OPEC+ meet

The Organization of Petroleum Exporting Countries and its allies will meet on Wednesday to assess the global market and prospects for demand as the pandemic grinds on.

China's Sinopec posts $6 bn profit on rebounding oil prices, better demand

Revenue in the first six months rose 22.1% from last year's low base to 1.26 trillion yuan, following a recovery in global oil prices and robust demand for fuel and petrochemical products

India begins selling crude oil from strategic reserves in monetisation push

This is being done to make space for HPCL and Mangalore Refinery and Petrochemicals, which will be leasing space in the ISPRL caverns for commercial use

Transparent pricing

Govt should explain the fuel tax rationale

Oil rebounds after White House says not calling for US output hike

Oil gained Wednesday, changing course after Biden administration said it would not call on US producers to increase crude output, and that efforts to increase OPEC production were a longer-range plan

Oil prices up 3%; forecast for better US fuel demand feeds rebound

Oil prices rose 3% on Tuesday, rebounding from recent losses on signs of rising fuel demand in the United States despite a surge in Covid-19 cases

Oil prices slide to 3-week low on China's virus curbs, strong dollar

A United Nations panel's dire warning on climate change added to the gloomy mood after fires in Greece have razed homes and forests and parts of Europe suffered deadly floods last month

Oil prices drop 4% on China's Covid restrictions and climate warning

Brent crude futures fell by $2.82, or 4.2%, to $67.88 a barrel by 0930 GMT after a 6% slump last week for their biggest weekly loss in four months.

Oil heads for biggest weekly loss this year on Delta variant concerns

Oil fell, capping the biggest weekly loss since October, as the spread of the delta coronavirus variant in China and elsewhere in the world is casting doubts on demand growth

Oil prices steady, but set for big weekly loss on demand worries

Oil prices were steady on Friday, but on track for steep weekly declines on concerns over the impact on fuel demand from travel restrictions to curb spread of Covid-19