Page 8 - Oil Prices

Sensex down 638 pts; Nifty nears 16900; Adani Group stocks slide, pharma up

CLOSING BELL: Adani Enterprises was the biggest Nifty dragger as it dropped 9 per cent

Oil jumps nearly $4 as OPEC+ weighs biggest output cut since 2020

Brent crude futures rebounded $3.46, or 4.1%, to $88.60 a barrel by 0915 GMT. US West Texas Intermediate crude was up 4.3%, or $3.39, at $82.88

Oil jumps more than 3% in Asian trade as OPEC+ mulls cuts up to 1 mn bpd

Oil prices jumped more than 3% in early Asian trade on Monday as OPEC+ considers cutting output of up to 1 million barrels per day at a meeting this week to support the market

EU adopt windfall levy to manage energy crisis, no deal on price cap

European Union energy ministers on Friday adopted a package of measures to soothe the energy crisis, including a windfall levy on profits by fossil fuel companies, but a deal on capping gas prices remained off the table. With energy prices skyrocketing across Europe since the Russian invasion of Ukraine, EU member countries reached a deal on proposals from the European Commission that the bloc's executive arm said could help raise USD 140 billion to help people and businesses hit by the crunch. The measures include a levy on surplus profits made by companies producing or refining oil, gas and coal. The two other main elements of the plan are a temporary cap on the revenues of low-cost electricity generators such as wind, solar and nuclear companies, as well as an obligation for the 27 EU countries to reduce electricity consumption by at least 5 per cent during peak price hours. The text should be adopted next week and enter into force soon after. Estonian Economic Affairs and ...

Oil prices drop again after rebound as dollar strengthens, demand weakens

Oil prices fell on Thursday after gaining more than $3 in the prior session, with a strong dollar capping oil demand and concerns over the faltering global economic outlook clouding market sentiment

Goldman cuts 2023 oil price forecast due to weakening demand outlook

Goldman's commodities research division lowered the forecast for next year by $17.5 per barrel on average, even as it saw a seasonally adjusted global oil market deficit in Q4 of 2022 and in 2023

Spike in oil price is breaking India's back, says Jaishankar in US

India, which has a USD 2,000 per capita economy, is concerned over the spike in the price of oil due to the Russia-Ukraine conflict and it is "breaking our back," External Affairs Minister S Jaishankar said on Tuesday. Addressing a joint press conference with US Secretary of State Antony Blinken after holding bilateral talks, Jaishankar said there is a very deep concern among developing countries about how their energy needs are addressed. Speaking about the Ukraine war, he said: "We have taken the position privately, publicly, confidentially and consistently that this conflict is not in anybody's interest." The best way forward is to return to dialogue and diplomacy, he said. "Look, we have concerns about the price of oil but we are a USD 2,000 per capita economy. When the price of oil is breaking our back and it's our big concern," he said. Jaishankar was responding to a question on a cap on Russian oil. "In the past whenever we have been able to contribute something, we have b

Investment via P-notes rises to Rs 84,810 cr in Aug after 3-month decline

After three consecutive monthly declines, investment in the Indian capital markets through participatory notes rose to Rs 84,810 crore at the end of August on the back of a drop in oil and commodity prices. However, the month of September might be subdued for P-note participation as the Foreign Portfolio Investors (FPIs) have turned cautious, Sonam Srivastava, Co-Founder at Wright Research, Sebi-registered research investment adviser, said. Participatory notes (P-notes) are issued by registered FPIs to overseas investors who wish to be a part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 84,810 crore in August compared to Rs 75,725 crore in July-end. In comparison, investment through the route was Rs 80,092 crore in June-end, Rs 86,706

Gas price review panel, led by Kirit Parikh, seeks more time: Report

The government-appointed panel for reviewing the pricing of natural gas has sought more time to submit its report as it does a tightrope walk of striking a balance between the expectations of producers and consumers, sources said. The panel headed by former planning commission member Kirit S Parikh was tasked to suggest a "fair price to the end-consumer" by the end of September. Given the enormity of the task, the committee wanted 30 more days to finish the report but the government wants it to wrap up the work by mid-October, two sources with knowledge of the matter said. A decision on the exact duration of the extension will be taken next week after oil secretary Pankaj Jain returns from his overseas trip, they said. Natural gas is a fossil energy source that formed deep beneath the earth's surface. It is used to generate electricity, produce fertiliser, convert into CNG to run automobiles and piped to household kitchens for cooking and heating. It is also used in making glass, .

Indices fall for 5th day; Sensex dips 38pts, Nifty at 17K after choppy day

CLOSING BELL: Among sectors, defensives rose in trades today with the Nifty IT, FMCG, and Pharma indices advancing between 0.6 per cent and 0.9 per cent

Oil prices rise after nine-month lows as focus shifts to OPEC+ supply cuts

Analysts believe further sell offs in oil markets could see OPEC+ intervene to support prices by collectively reducing their output

EU countries plan to delay Russian oil price cap amid divisions: Report

Countries may push to have a preliminary deal ahead of an informal gathering of EU leaders in Prague on Oct 6

Sensex falls 954 pts, Nifty below 17,050 amid growth concerns; IT stocks up

Stock market live: At 07:50 am, SGX Nifty quoted at 17,230, indicating an opening loss of over 100-odd points on the Nifty

Energy crisis shows gasoline demand declining, renewables on the rise

With prices of natural gas and coal heading to record highs and those for crude oil not far below their 2008 peak, the world seems more hooked on carbon than ever

Investors poorer by Rs 5 trn as Sensex tanks 1,021 pts; Nifty near 17,300

CLOSING BELL: ith this, the indices have yet again turned negative for calendar year 2022. During the day, the Sensex had tumbled over 1,100 points, and the Nifty50 had erased nearly 350 points

Oil prices up but expected US Fed rate hike paints bearish picture

Brent crude futures for November settlement were up 41 cents, or 0.5%, to $92.41 a barrel at 0939 GMT

Strong dollar vs foreign inflows: Rupee in fine balance ahead of Fed meet

Analysts expect rupee to trade in the range of 78-80 per dollar, for now

Centre to relax rules, fast-track new measures for oil & gas exploration

More processes to be brought under the self-certification framework while clearance portal is being upgraded

Oil prices rise after Basra terminal spill, but set for weekly decline

Brent crude futures were up 70 cents, or 0.8%, at $91.54 a barrel by 1:43 p.m. EDT (1743 GMT)

Shell CEO Ben van Beurden to leave at year-end; gas chief Sawan to step in

Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company