Page 2 - Oil Trade

Oil down on strong dollar, worries about recession and hawkish Fed talk

Oil futures fell for a third day on Wednesday, as a stronger dollar and worries about weaker demand and rising interest rates

Russia to flood Asia with fuels as Europe ramps up sanctions: Report

Moscow plans to raise taxes on energy sector to the tune of $50 bn in 2023-25

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)

India, Russia to discuss energy security as oil, coal trade soars

The Kremlin has said Putin and Modi will meet on Friday and discuss trade, including food, as well as sales of Russian fertilizer

Oil exports to India will continue, will strike new trade records: Russia

There is a steep jump in Russian oil export to India, as it has increased ten times this year and Russian crude oil is now fulfilling almost ten per cent of India's imported oil consumption

Oil prices surge on weakening dollar, potential supply disruptions

Brent crude futures rose 38 cents, or 0.4%, to $94.48 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude rose 46 cents, or 0.5%, to $88.94

Oil slips after bearish US economic data fuels aggressive rate hike fears

U.S. commercial oil stocks are expected to have fallen for five weeks in a row, dropping by around 200,000 barrels in the week to Sept. 9, a preliminary Reuters poll showed on Monday

Importing Russian oil part of India's inflation management: FM Sitharaman

Nirmala Sitharaman made the statement at an event in New Delhi

OPEC+ faces output dilemma amid concerns of a global economic slowdown

Recent gyrations, including a drop of more than 20% in Brent crude since early June, have prompted Riyadh to say an output cut could be necessary

Oil firms on OPEC+ output cut bets to stem sinking prices amid weak growth

Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, but the benchmarks were still on track to post their worst weekly drop

Iraq leads with discounts as W Asia retains top slot in Indian oil market

Iraq, India's biggest crude oil supplier, maintained its lead over Russia in August, supplying 12-20 per cent more to India in the first 30 days of the month

Amid rising prices, oil companies invest heavily in offshore drilling

Surging oil prices are encouraging the investments, along with Europe's mounting energy demand as the Ukraine-Russia war drags on

Rupee appreciates 7 paise to 79.84 against US dollar in early trade

The rupee appreciated 7 paise to 79.84 against the US dollar in early trade on Tuesday in line with a positive trend in domestic equities. However, higher oil prices and month-end dollar demand could restrict the gains for the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 79.92 against the American dollar and touched 79.84 in initial deals, registering a gain of 7 paise over the last close. On Monday, the rupee closed at 79.91 against the US dollar. The rupee opened on a flat note after Monday's volatile session in which RBI had intervened to support the currency amid a fall in equities and a rise in the dollar index, according to experts. Asian currencies are generally down as the market digests US Federal Reserve chief Jerome Powells' hawkish tone on interest rates on Friday. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06 per cent to 108.76. Global oil benchmark Brent crude futures

Fuel price: What is windfall gain tax and how it affects fuel prices?

What is windfall gain tax? How does it impact petrol-diesel prices? Which countries impose it? Read this detailed article to know everything about fuel and its relation to windfall gain tax

Major traders, banks cut business ties with Russia-backed Nayara: Report

Nayara per se has not been sanctioned as part of the international response to what Russia calls its 'special military action' against Ukraine but sanctions are in place against Rosneft.

Oil prices rise after Saudi warns OPEC could cut output to correct drop

Brent crude futures rose 32 cents to $96.80 a barrel by 0004 GMT, after a choppy session on Monday when they dropped by more than $4 before paring losses to trade near flat

Gulf states to gain $1.3 trillion in additional oil revenue by 2026: IMF

The gains, due to high oil prices, are expected to provide 'firepower' to the region's sovereign wealth funds (SWFs), one of the largest in the world

Oil prices fall below $94 a barrel, awaits news of Iran nuclear deal

Brent crude futures fell $2.27, or 2.4%, to $92.83 a barrel. The contract hit a session low of $92.51 per barrel, the lowest since Feb. 18

Opec cuts oil demand forecasts as economic growth slows, says report

The Vienna-based producers' group cut its forecasts for global oil demand this year by 260,000 barrels to 100.03 million barrels a day, citing the impact of slowing global economies

Keeping Europe warm this winter will come down to Asia's weather amid war

The Asian countries, among the world's biggest importers of liquefied natural gas and seaborne coal, all share a peak heating demand season during the winter with Europe