Page 4 - Crude Oil

Oil edges higher on hopes of Chinese demand boost; crude futures up 0.71%

China, the economy of which has been hit by another Covid wave, also announced more state support measures on Thursday

Oil prices rise after US fuel stocks draw down; economic concerns loom

Still, crude inventories rose more than expected at 1.7 million barrels, compared with analysts' expectations for a 1.2 million-barrel rise

Oil rebounds after biggest two-day loss in decades at start of the year

Brent crude was up $1.22, or 1.6%, to $79.06 a barrel at 0922 GMT, while U.S. West Texas Intermediate crude futures gained $1.02, or 1.4%, to $73.86

Oil sinks over 8% in 2 days to below $79, biggest one-day loss in 3 months

Brent futures fell $3.70 to $78.40 a barrel, a 2.9 per cent loss. US crude dropped 3.5 per cent, to $73.36 per barrel. Both benchmarks plunged more than 4 per cent

Oil dips 4% on mounting worry about global economy, rising Covid cases

Both benchmarks also plunged more than 4% on Tuesday, with Brent posting its biggest daily decline in more than three months

Oil falls again as concerns grow over global economy, China Covid cases

Brent futures fell $1.88 to $80.22 a barrel, a 2.3% loss, by 1032 GMT. U.S. crude dropped $1.68, or 2.2%, to $75.25 per barrel

RIL, ONGC: Will windfall tax hike dampen upside in oil-linked stocks?

The central Board of indirect taxes and Customs has raised windfall tax on petroleum, crude, and aviation turbine fuel effective from January 3

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Top Headlines: India ups windfall tax on crude, 6.5% growth likely in FY24

Business Standard brings you the top headlines at this hour

India raises windfall tax on crude oil, diesel and aviation turbine fuel

It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective Tuesday, the order said

Russia's domination over Indian crude market will continue in 2023: Experts

Sizeable discounts on Urals grade have helped evade new sanctions by western powers; fate of Russian supplies in Q1 of calendar 2023 rests on oil price movement

Oil set to close higher in 2022, a turbulent year marked by tight supplies

Brent crude futures climbed 44 cents, or 0.5%, to $83.90 a barrel by 0138 GMT after settling 1.2% down in the previous session

India's basket of crude rises 102% between Oct 2020-Oct 2022: Report

According to Petroleum Ministry sources, petrol prices stood at Rs 81.06 per litre in October 2020, however by October 2022, they had risen only 19.3 per cent to Rs 96.72 per litre

Europe set the bar on Russian gas high enough to leave India unaffected

The impact of the gas price cap on India may, however, be muted as the EU, fearing disruptions to domestic gas supplies in winter, set the bar very high

Oil prices up as US crude stocks seen falling, dollar eases in early trade

Brent crude futures rose 8 cents to $80.07 per barrel by 0126 GMT, while US West Texas Intermediate (WTI) crude futures gained 6 cents to $76.29

Big oil stages a grand comeback as Exxon's valuation passes Tesla

For its part, Exxon's equity value has been steadily climbing since hitting a two-decade low in early 2020, when the outset of the Covid-19 pandemic sent crude prices into a tailspin

Benchmark indices rise nearly 1% on heavy buying in oil, FMCG stocks

From the Sensex pack, Mahindra & Mahindra, Power Grid, Bharti Airtel, Bajaj Finserv, HDFC, Hindustan Unilever, Maruti, ITC, Titan, Nestle, Bajaj Finance and Reliance Industries were the major winners

India to remain top buyer of Russia's Urals crude in Dec, says report

India is taking most of Russia's Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data

Windfall tax slashed: Down 65% on crude oil, and 37% on diesel exports

Windfall tax: The levy on diesel exports has been cut from Rs 8 to Rs 5 per litre and on aviation fuel from Rs 5 to Rs 1.5 per litre

Sebi penalises Crude Oil Tipswala, 3 individuals for unregistered services

Sebi on Wednesday levied a fine of Rs 3 lakh on Crude Oil Tipswala (COT) and three individuals for providing investment advisory services without market regulator's authorisation. In addition, COT and the three individuals were restrained from the securities markets for six months. The order came after Sebi issued a show cause notice in June to COT, Jitendra Kumar Ganeshlal Bata, Goutam Sarvar and Mukeshbhai Ramanbhai Muniya for providing investment advisory services without obtaining registration from Sebi in violation of IA (Investment Advisers) norms. COT, Jitendra Kumar Ganeshlal Bata, Goutam Sarvar and Mukeshbhai Ramanbhai Muniya are collectively referred to as 'noticees'. The amount of fees collected by the noticees was Rs 39.26 lakh during June 2016-2021, the Securities and Exchange Board of India (Sebi) said in the final order. Therefore, the regulator imposed a fine of Rs 3 lakh on the noticees for violating market norms, it added. In its order, Sebi directed the noticee