Page 5 - Oil Prices

Oil prices rise to near $90/bbl on account of US crude stock drop

Brent crude futures rose $1.03, or 1.17%, to $89.39 a barrel at 0941 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.06%, to $81.81 a barrel

Indian markets are likely to underperform peers in the short-run: Analysts

Among the lot, US equities still have a lot of room to catch up as the US Federal Reserve (US Fed) slows its pace of rate hikes, analysts say

Oil prices ease to trade near 2-month lows on China demand fears

Brent crude futures for January had slipped 65 cents, or 0.7%, to $86.97 a barrel by 1000 GMT

Oil falls as Russian shipments via Druzhba pipeline to Hungary restart

In China, rising Covid-19 cases weighed on sentiment after an easing of virus restrictions this week

Oil prices surge after incident involving commercial vessel off Oman coast

In China, rising Covid-19 cases weighed on sentiment after an easing of virus restrictions this week

Indian refiners becoming wary of buying Russian oil as EU sanctions loom

Chinese refiners have already begun slowing down Russian oil imports from next month

Oil prices fall $1 on surging Covid cases in China, firmer US dollar

Covid-19 cases climbed in China over the weekend, with Beijing and other big cities on Monday reporting record infections

Oil prices jump by over 2% as China eases some coronavirus restrictions

Brent crude futures rose $2.39, or 2.6%, to $96.06 a barrel by 0745 GMT, extending a 1.1% rise in the previous session

Oil prices plunge 3% on US inventory build, China Covid-19 worries

Brent crude futures settled at $92.65 a barrel, shedding $2.71, or 2.8%, while U.S. West Texas Intermediate (WTI) crude futures settled at $85.83 a barrel, dropping $3.08, 3.5%

Oil prices decline on US crude inventory build, China Covid worries

Brent crude futures fell 74 cents, or 0.7%, to $94.62 a barrel by 1201 GMT

Oil prices eases to $98 a barrel as China Covid-19 cases dampen spirits

Brent edged down below $98 a barrel, after losing ground in the week's opening session as China reaffirmed its commitment to its zero Covid-19 strategy

India will 'benefit' from price cap on Russian oil: US Treasury Secretary

India will "benefit" from the proposed price cap on oil, Treasury Secretary Janet Yellen has said, arguing that the United States does not want Russia to "profit unduly" from the war by enjoying prices that are essentially very high due to its Ukrainian invasion. Developing countries like India and China have been increasingly buying discounted Russian oil as global energy prices remain high and Western nations seek to scale down their reliance on Russian energy. We want Russian oil to continue to supply global markets; stay on the market. But we want to make sure that Russia doesn't profit unduly from the war by enjoying prices that are essentially very high due to the war, Yellen told PTI in an exclusive interview on Monday ahead of her trip to India later this week. India's oil purchase from Russia and the Ukrainian invasion is expected to be significant topics of discussion during her India trip, where Yellen is travelling to primarily co-chair the US-India Economic and Financia

Oil slips on demand concerns but holds near $100 a barrel as dollar weakens

Brent crude futures fell by 39 cents, or 0.4% to $98.18 a barrel by 1306 GMT. U.S. West Texas Intermediate crude fell by 47 cents, or 0.51%, to $92.14

External sector could face some anxious moments, says CEA Nageswaran

He said that the way the oil price cap is being discussed has encouraged oil and gas traders to stock up on volumes, creating unintended consequences

Oil climbs 3% as dollar slips; EU ban on Russian crude imports looms

US West Texas Intermediate (WTI) crude futures were up $3.52, or 3.99%, at $91.69 and on course for a weekly gain of more than 4%

Oil prices fall as US Fed interest rate hike raises fuel demand concerns

OPEC and its allies including Russia, known collectively as OPEC+, also decided to cut targeted output by 2 million bpd from this month

PSU oil companies losing a net Rs 4 per litre on diesel: Hardeep Singh Puri

PSU oil companies are losing a net Rs 4 per litre on diesel while their margins have turned positive on petrol, Oil Minister Hardeep Singh Puri said on Wednesday on talks of a price reduction in the offing as international rates have softened. Puri said his ministry will seek assistance for the three fuel retailers - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) for the losses they incurred on holding petrol and diesel prices since the Ukraine war to help the government fight inflation. "OMCs (oil marketing companies) still have under-recoveries on diesel," he told reporters when asked if there is a price reduction in the offing. The three firms held prices despite international oil prices shooting up to more than a decade high. The under-recovery - difference between the retail selling price and the international rate - currently is about Rs 27 per litre on diesel but the actual cash loss (the loss based on the

Oil prices rise before expected Fed rate hike as US crude stocks drop

Oil prices rose on Wednesday before an expected rate hike by the Federal Reserve, supported by another decline in US oil inventories as refineries picked up activity ahead of the winter heating seas

Oil prices slip ahead of US Fed meeting, crude stockpiles seen falling

At the same time, gasoline inventories fell 2.6 million barrels, more than expected. Official data is due at 1430 GMT.

China stocks roar back on reopening 'rumours'; oil price rises 1%

A gauge of Chinese stocks listed in Hong Kong surged almost 7 per cent intraday, rebounding from its lowest close since late 2005