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The refinery of Austrian oil and gas group OMV is pictured in Schwechat, Austria.(Reuters)

Oil drops as Covid-19 lockdowns widen and US election looms

By Reuters | Posted by Shivani Kumar
UPDATED ON NOV 02, 2020 07:46 PM IST
Brent crude was down 80 cents, or 2.1%, at $37.14 a barrel by 1140 GMT. US West Texas Intermediate fell 93 cents, or 2.6%, to $34.86. Both contracts fell more than $2 earlier in the session.
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Russian President Vladimir Putin indicated last week he may agree to extending OPEC+ oil production reductions.(Reuters File Photo)
Russian President Vladimir Putin indicated last week he may agree to extending OPEC+ oil production reductions.(Reuters File Photo)

Oil falls more than 1% as surging Covid-19 cases stoke demand fears

By Reuters | Posted by Kanishka Sarkar | Reuters
PUBLISHED ON OCT 26, 2020 07:48 AM IST
On the supply side, Libya’s National Oil Corp on Friday ended its force majeure on exports from two key ports and said production would reach 1 million barrels per day (bpd) in four weeks, a quicker ramp-up than many analysts had predicted.
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The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, US.(Reuters File Photo)
The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, US.(Reuters File Photo)

Oil jumps as hurricane hits US output while crude stocks decline

By Reuters | Posted by Kanishka Sarkar | London
UPDATED ON SEP 16, 2020 02:46 PM IST
Oil prices collapsed to historic lows as the coronavirus crisis hit demand. A record supply cut by OPEC and its allies, known as OPEC+, and an easing of lockdowns has helped Brent recover from a 21-year low below $16 in April.
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Crude has also been hurt by worsening US-China relations and a retreat in global stocks, partially driven by concerns a Covid-19 vaccine may be delayed.(Reuters)
Crude has also been hurt by worsening US-China relations and a retreat in global stocks, partially driven by concerns a Covid-19 vaccine may be delayed.(Reuters)

Oil steady after closing below $40 for first time since June

By Bloomberg | Posted by Prashasti Singh
PUBLISHED ON SEP 09, 2020 06:25 AM IST
Futures in London were little changed after dropping 5.3% on Tuesday to settle below $40 a barrel for the first time since June 15.
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Decommissioned oil platforms stand ahead of Hurricane Laura in Sabine Pass, Texas, US on Tuesday(Bloomberg File Photo)
Decommissioned oil platforms stand ahead of Hurricane Laura in Sabine Pass, Texas, US on Tuesday(Bloomberg File Photo)

Oil holds near five-month high on US output cuts and inventories

By Reuters | Posted y Kanishka Sarkar | London
UPDATED ON AUG 26, 2020 02:56 PM IST
Oil was also boosted on Tuesday by US and Chinese officials reaffirming their commitment to a Phase 1 trade deal.
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An oil worker walks towards a drill rig after placing ground-monitoring equipment in the vicinity of the underground horizontal drill in Loving County, Texas.(REUTERS)
An oil worker walks towards a drill rig after placing ground-monitoring equipment in the vicinity of the underground horizontal drill in Loving County, Texas.(REUTERS)

Oil prices rise as storms cut US production

By Reuters | Posted by Arpan Rai | New York
PUBLISHED ON AUG 25, 2020 12:03 AM IST
Brent crude was up 68 cents, or 1.5%, at $45.03 a barrel by 1:43 p.m. EDT (1743 GMT). US West Texas Intermediate crude rose 26 cents, or 0.6%, to $42.60.
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Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil production in the US Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura.(Reuters file photo. Representative image)
Energy companies shut more than 1 million barrels per day (bpd) of offshore crude oil production in the US Gulf of Mexico because of the twin threat from Hurricane Marco and Tropical Storm Laura.(Reuters file photo. Representative image)

Oil gains on storm-hit US output and Covid-19 treatment hopes

By Reuters| Posted by: Harshit Sabarwal | London
UPDATED ON AUG 24, 2020 06:29 PM IST
Brent crude was up 33 cents, or 0.7%, at $44.68 a barrel by 1033 GMT. US West Texas Intermediate crude rose 32 cents, or 0.8%, to $42.66.
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A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas US(Reuters File Photo)
A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas US(Reuters File Photo)

Oil prices stable as US-China tensions offset weak dollar

By Reuters | Posted by Kanishka Sarkar | London
UPDATED ON JUL 24, 2020 02:00 PM IST
A weaker dollar usually spurs buying of commodities priced in dollars such as oil because they become cheaper for holders of other currencies.
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Crude inventories rose by 4.9 million barrels in the week to July 17 to 536.6 million barrels, compared with expectations in a Reuters poll for a 2.1 million-barrel drop. Production rose to 11.1 million barrels per day, up by 100,000 barrels per day.(Reuters file photo)
Crude inventories rose by 4.9 million barrels in the week to July 17 to 536.6 million barrels, compared with expectations in a Reuters poll for a 2.1 million-barrel drop. Production rose to 11.1 million barrels per day, up by 100,000 barrels per day.(Reuters file photo)

Oil edges down for second session as Covid-19 curbs fuel demand

By Reuters| Posted by: Harshit Sabarwal | Singapore
PUBLISHED ON JUL 23, 2020 07:27 AM IST
Brent crude fell 4 cents, or 0.1%, to $44.25 a barrel by 0026 GMT while US West Texas Intermediate (WTI) crude slid 6 cents, or 0.1%, to $41.84 a barrel.
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An employee fills fuel in a vehicle at a filling station, during fifth phase of Covid-19 lockdown in Kolkata.(PTI File Photo)
An employee fills fuel in a vehicle at a filling station, during fifth phase of Covid-19 lockdown in Kolkata.(PTI File Photo)

After eight days, diesel price hiked again; petrol remains unchanged

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JUL 07, 2020 05:01 PM IST
Pump prices of auto fuels that witnessed a rising streak since June 7 saw 12.86% and 16.41% jump in the rate of petrol and diesel, respectively.
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OPEC and allies including Russia, collectively known as OPEC+, have pledged to slash production by a record 9.7 million barrels per day (bpd) for a third month in July.(AP)
OPEC and allies including Russia, collectively known as OPEC+, have pledged to slash production by a record 9.7 million barrels per day (bpd) for a third month in July.(AP)

Oil prices mixed as coronavirus spike casts shadow over US demand

By Reuters | Singapore
UPDATED ON JUL 06, 2020 08:45 AM IST
Brent crude rose 11 cents, or 0.3%, to $42.91 a barrel by 0109 GMT after a 4.3% gain last week, while US West Texas Intermediate crude was at $40.35, down 30 cents, or 0.7%, from its previous settlement on Thursday.
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Gasoline demand will be closely watched as the United States heads into its July 4 holiday weekend as many Americans are expected to hit the road.(AP)
Gasoline demand will be closely watched as the United States heads into its July 4 holiday weekend as many Americans are expected to hit the road.(AP)

Oil falls as growing coronavirus cases stoke fuel demand worries

By Reuters | Posted by Shivani Kumar | Seoul, South Korea
UPDATED ON JUL 03, 2020 08:26 AM IST
Brent crude futures were down 37 cents, or 0.9%, at $42.77 a barrel as of 0042 GMT, and US West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.8%, to $40.31 a barrel.
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The reopening of some US states and countries around the world after lockdowns has helped sustain oil’s recent rally as demand for fuel returns.(Bloomberg)
The reopening of some US states and countries around the world after lockdowns has helped sustain oil’s recent rally as demand for fuel returns.(Bloomberg)

Oil prices steady amid signs of demand coming back after coronavirus

By Reuters | Posted by Prashasti Singh
PUBLISHED ON JUN 23, 2020 08:14 AM IST
Brent crude was up 6 cents at $43.14 a barrel at 0046 GMT, after gaining 2.1% on Monday. US oil was up 8 cents at $40.81 a barrel, having risen 1.8% in the previous session.
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A petrol pump employee wearing a face shield while attending to a customer in Wazirpur, New Delhi on May 5, 2020.(Sanchit Khanna/HT PHOTO)
A petrol pump employee wearing a face shield while attending to a customer in Wazirpur, New Delhi on May 5, 2020.(Sanchit Khanna/HT PHOTO)

Oil companies raise fuel prices

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JUN 09, 2020 12:58 AM IST
Retail prices of petrol and diesel were first raised by 60 paise a litre each on Sunday followed by similar hikes on Monday. Petrol is now sold in Delhi at Rs 72.46 per litre and diesel at Rs 70.59 a litre, according to the Indian Oil Corporation (IOC).
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US West Texas Intermediate crude (WTI) gained 33 cents, or 0.9 per cent, at $37.14, also the highest since March 6.(Bloomberg)
US West Texas Intermediate crude (WTI) gained 33 cents, or 0.9 per cent, at $37.14, also the highest since March 6.(Bloomberg)

Oil hits three-month high over hopes for output cuts

By Reuters | Posted by: Shivani Kumar | Tokyo, Japan
UPDATED ON JUN 03, 2020 08:01 AM IST
Brent crude was up 22 cents, or 0.6 per cent, at $39.79, by 0003 GMT, the highest since March 6, having gained 3.3 per cent on Tuesday.
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The benchmark Brent crude price on Monday dropped by as much as 6.62% to $23.28 per barrel.(Reuters)
The benchmark Brent crude price on Monday dropped by as much as 6.62% to $23.28 per barrel.(Reuters)

As Covid-19 spreads across world, oil prices slump to 17-year low

By Rajeev Jayaswal | Hindustan Times, New Delhi, New Delhi
UPDATED ON MAR 30, 2020 03:19 PM IST
Besides reduced demand because of the coronavirus pandemic, an oil price war between Saudi Arabia and Russia has contributed to the plunge in the price of crude.
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Employees are seen next to spheroids under reconstruction at Saudi Aramco oil facility in Abqaiq, Saudi Arabia.(Reuters file photo)
Employees are seen next to spheroids under reconstruction at Saudi Aramco oil facility in Abqaiq, Saudi Arabia.(Reuters file photo)

Oil down about 20 per cent after Saudi price cuts

By Press Trust of India | Singapore
UPDATED ON MAR 09, 2020 06:26 AM IST
The two main contracts were both down about 20 per cent, with West Texas Intermediate sliding to about USD 32 a barrel and Brent crude to about USD 36 a barrel.
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Passengers wearing masks are seen at the Pudong International Airport in Shanghai, China January 27, 2020.(REUTERS)
Passengers wearing masks are seen at the Pudong International Airport in Shanghai, China January 27, 2020.(REUTERS)

Oil falls for sixth day as China Coronavirus spreads

By Reuters | Tokyo
UPDATED ON JAN 28, 2020 10:14 AM IST
Oil investors are concerned travel advisories, other restrictions and any fall-off in economic growth in the world’s second-biggest economy and elsewhere will dampen demand for crude and its products, amid plentiful supply.
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Iran has vowed retaliation for the killing of Iranian military commander Qassem Soleimani by a U.S. air strike on Jan. 3.(VIA REUTERS)
Iran has vowed retaliation for the killing of Iranian military commander Qassem Soleimani by a U.S. air strike on Jan. 3.(VIA REUTERS)

Oil prices spike 5%, surge above $65 after Iran attacks US airbase in Iraq

By Reuters | Tokyo
UPDATED ON JAN 08, 2020 06:55 AM IST
West Texas Intermediate crude futures rose nearly $3, or almost 5%, to $65.50 a barrel at around 0029 GMT. Brent crude was yet to trade after dropping nearly 1% on Tuesday
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Smoke was seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia on September 14, 2019(Reuters File Photo)
Smoke was seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia on September 14, 2019(Reuters File Photo)

Oil prices surge over 10% as attack on Saudi Aramco facility disrupts output

By Associated Press | Associated Press
UPDATED ON SEP 16, 2019 09:08 AM IST
The attack on its oil infrastructure could lead Saudi Arabia to launch a military strike on Iran in retaliation, Book said. Countries attacking each other’s oil facilities and fields is a “prescription for a high oil price.”
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After opening on a flat note, the benchmark Sensex fell over 190 points during the early trade.(PTI File Photo/Representative Image)
After opening on a flat note, the benchmark Sensex fell over 190 points during the early trade.(PTI File Photo/Representative Image)

Sensex down 190 points, Nifty below 11,800

By Indo Asian News Service | Mumbai
UPDATED ON JUN 21, 2019 11:11 AM IST
Brent crude, the global oil benchmark, surged over 5 per cent on renewed tensions in the Middle East after Iran shot down a US military drone.
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Barring capital goods, all BSE sectoral indices ended in the red.(Bloomberg/Representative Image)
Barring capital goods, all BSE sectoral indices ended in the red.(Bloomberg/Representative Image)

Sensex succumbs to fag-end sell-off; logs weekly losses

By Press Trust of India | Mumbai
UPDATED ON JUN 14, 2019 07:39 PM IST
During the week, the Sensex fell 163.83 points or 0.41 per cent, while the Nifty lost 47.35 points or 0.39 per cent.
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The rupee had appreciated 2 paise to 69.72 against the US dollar in the previous session.(PTI File Photo/Representative Image)
The rupee had appreciated 2 paise to 69.72 against the US dollar in the previous session.(PTI File Photo/Representative Image)

Rupee gains 5 paise against US dollar in early trade

By Press Trust of India | New Delhi
UPDATED ON MAY 22, 2019 11:59 AM IST
At the interbank foreign exchange, the domestic unit opened almost flat at 69.70 against the dollar and then it strengthened by 5 paise to quote at 69.67 in early trade.
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An analysis of monthly increases in petrol prices and international crude prices between July 2017 and April 2018 shows that petrol prices rose by a significantly lower level than global crude prices four times.(HT File Photo)
An analysis of monthly increases in petrol prices and international crude prices between July 2017 and April 2018 shows that petrol prices rose by a significantly lower level than global crude prices four times.(HT File Photo)

Fuel rates stagnate before polls despite global price fluctuations

By Vineet Sachdev | Hindustan Times, New Delhi
UPDATED ON APR 17, 2019 07:40 AM IST
A similar stagnation in petrol prices could be seen during the April -May period in 2018 just before the Karnataka elections when the Brent oil price increased by 11% in a one-month duration while price of petrol changed by less than 1%.
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The Indian rupee Wednesday snapped its three-day losing streak and settled higher by 11 paise at 71.33 against the US dollar.(REUTERS)
The Indian rupee Wednesday snapped its three-day losing streak and settled higher by 11 paise at 71.33 against the US dollar.(REUTERS)

Rupee clocks gain after 3 days, settles 11 paise higher against US dollar

By Press Trust of India | Mumbai
UPDATED ON JAN 23, 2019 06:37 PM IST
Forex traders attributed the US dollar slide to renewed concerns over ongoing US-China trade tiff which experts believe dragging the global economy towards a major financial meltdown.
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The rupee Monday weakened by 9 paise to close at 71.28 against the US dollar.(REUTERS)
The rupee Monday weakened by 9 paise to close at 71.28 against the US dollar.(REUTERS)

Rupee slips further, dips 9 paise to 71.28 against USD

By Press Trust of India | Mumbai
UPDATED ON JAN 22, 2019 09:51 AM IST
At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 71.38 and fell further to touch the day’s low of 71.53.
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People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)
People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(REUTERS)

Sensex rallies over 300 points, Nifty reclaims 10,800 level

By Press Trust of India | Press Trust of India
UPDATED ON DEC 28, 2018 10:09 AM IST
Top gainers include HDFC duo, Reliance Industries, ICICI Bank, L&T, ITC, HUL, SBI, TCS and Sun Pharma, rising up to 2%.
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People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters file photo)
People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters file photo)

Sensex ends lower over Fed rate hike

By Indo Asian News Service | Mumbai
PUBLISHED ON DEC 20, 2018 05:48 PM IST
In line with weakness in global markets, the BSE Sensex and Nifty50 ended lower on Thursday after the US Federal Reserve raised its short-term interest rate.
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The Indian currency had gained 34 paise to close at 71.56 against the US dollar Monday(REUTERS FILE PHOTO)
The Indian currency had gained 34 paise to close at 71.56 against the US dollar Monday(REUTERS FILE PHOTO)

Rupee logs best day in over 5 years, vaults 112 paise on crude slide

By Press Trust of India | Mumbai
UPDATED ON DEC 18, 2018 07:09 PM IST
The Indian rupee rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar as softening crude oil prices eased concerns over India’s current account deficit expansion.
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Besides, a bullish trend in the equity market and fresh foreign fund inflows provided support to the domestic currency, which has witnessed a massive 150 paise rise in the last two trading sessions.(Getty Images/iStockphoto)
Besides, a bullish trend in the equity market and fresh foreign fund inflows provided support to the domestic currency, which has witnessed a massive 150 paise rise in the last two trading sessions.(Getty Images/iStockphoto)

Rupee logs biggest single-day gain in 5 years, leaps 100 paise on crude respite

By Press Trust of India | Mumbai
PUBLISHED ON NOV 02, 2018 08:00 PM IST
The Indian rupee Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices and possibility that the US might grant waivers to India from sanctions on Iranian oil imports.
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