Page 11 - Oil Prices
Saudi Arabia may hike oil price to record even as traders see risks
The world's top crude exporter is expected to price its Arab Light crude to Asia at a $10.80-a-barrel premium to the region's benchmark for September-loading cargoes
 "Saudi Arabia may hike oil price to record even as traders see risks")
Oil steady as demand concerns offset US crude stock drawdown
Oil prices held steady on Wednesday as concerns about weaker demand offset industry data that showed a larger-than-expected drawdown in US crude stockpiles.
 "Oil steady as demand concerns offset US crude stock drawdown")
Nasdaq falls with dollar, oil rises; earnings, Fed rate hike in focus
Nasdaq closed lower on Monday after a choppy session for US equities ahead of a big week of technology earnings reports while oil prices rose
 "Nasdaq falls with dollar, oil rises; earnings, Fed rate hike in focus")
Oil prices steady after sharp decline of nearly 3% on weak US demand
Oil prices were roughly unchanged in early trading on Friday after sliding around 3% in the previous session on weakened demand in the United States and a pick-up in supply from Libya
 "Oil prices steady after sharp decline of nearly 3% on weak US demand")
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
 "Broader crude oil price trend likely to force review of windfall tax")
US talks with India on price cap on Russian oil 'encouraging': Yellen
A senior Treasury official said India had made no promises on the oil price cap, but was working with the United States and had not "expressed hostility to this idea".
 "US talks with India on price cap on Russian oil 'encouraging': Yellen")
ATF rates slashed by 2.2% on account of fall in international oil prices
Jet fuel (ATF) prices on Saturday were reduced by 2.2 per cent, reflecting a fall in international oil prices
 "ATF rates slashed by 2.2% on account of fall in international oil prices")
Brent crude settles below $100/bbl on higher dollar, weak demand outlook
Global benchmark Brent crude tumbled $7 on Tuesday to settle below $100 a barrel for the first time in three months on a strengthening dollar, Covid-19 curbs in China
 "Brent crude settles below $100/bbl on higher dollar, weak demand outlook")
Centre may allocate Rs 44,000 cr to oil firms to compensate for LPG losses
The central government is planning to allocate Rs 44,000 crore as compensation to oil companies for losses they have been bearing by selling LPG at below-market rates, a report said
 "Centre may allocate Rs 44,000 cr to oil firms to compensate for LPG losses")
Oil dips as investors torn by tight supply worries and recession fears
Oil prices slipped in early Asian trade after a rebound in the previous session, as investors remained torn between worries over tight global supplies and fears a recession could dampen demand
 "Oil dips as investors torn by tight supply worries and recession fears")
India's export curbs, tax hike to exacerbate global diesel, petrol shortage
India's latest measures aimed at boosting domestic oil supplies could reduce its diesel and gasoline exports in the second half of the year
Oil prices bounce back from Tuesday tumble as supply concerns return
Brent crude futures rose as much as $3.08, or 2.9%, to $105.85 a barrel in early trade after plunging 9.5% on Tuesday, the biggest daily drop since March
Rebound in oil prices gives world stocks a lift in holiday trade
A rebound in oil prices on concerns of tight supply gave world stocks a lift on Monday in a session hit by a US holiday
 "Rebound in oil prices gives world stocks a lift in holiday trade")
Opec+ struggles to meet its supply targets amid high crude prices
A recovery from Covid-19 and a shortage of refining capacity to make fuels continue to keep prices at record highs
 "Opec+ struggles to meet its supply targets amid high crude prices")
Euro below $1.06 as Christine Lagarde keeps July policy options open
Oil prices are up 10% in barely a week on supply constraint concerns with Brent crude holding above $117, pushing the Canadian dollar and the Australian dollar up 0.3% and 0.4% respectively
 "Euro below $1.06 as Christine Lagarde keeps July policy options open")
7 out of 9 neighbouring nations charge less for petrol than India
Among the neighbouring countries, China (Rs 116 per litre) and Nepal (Rs 124 per litre) had a higher price.
 "7 out of 9 neighbouring nations charge less for petrol than India")
Russia-Ukraine war: G7 leaders mull untried plan to manipulate oil prices
The dueling escalation underscored how the war in Ukraine has consumed global politics and the world economy
 "Russia-Ukraine war: G7 leaders mull untried plan to manipulate oil prices")
Indian Oil expects prices to stay over $100/bbl in 2022 amid Ukraine crisis
An Indian Oil finance executive said on Friday he expects oil prices to hold above $100 per barrel for the rest of 2022 amid the Ukraine crisis
 "Indian Oil expects prices to stay over $100/bbl in 2022 amid Ukraine crisis")
Oil trades sideways on fears of slower demand, supply uncertainty
Oil prices traded sideways on Friday after briefly rising nearly $1 per barrel, as the market balanced fears of slower demand from cooling U.S. economic activity with supply uncertainty
Crude takes fresh hit as fear of global slowdown scars commodities
West Texas Intermediate sank towards $104 a barrel after closing at a six-week low on Wednesday
 "Crude takes fresh hit as fear of global slowdown scars commodities")
