[
oil price news
]Latest from oil price
Oil prices resume climb after U.S. stockpiles drop in tight market
While prices dipped on Tuesday as it appeared the European Union was unlikely to agree to a ban on Russian oil, the market remains on edge over the prospect of further sanctions on Russia.
Published on Mar 23, 2022 08:20 AM IST
Reuters |
Oil price hike may be delayed as crude plunges below $100
The price of Brent Crude dropped to an almost three-week low of $97.44 per barrel on Tuesday on slower anticipated demand due to surging Covid-19 cases in China, ceasefire talks between Russia and Ukraine, and hope for resumption of the Iran nuclear deal.
Updated on Mar 16, 2022 04:52 AM IST
Rajeev Jayaswal, New Delhi
Oil breaches $100 for first time since 2014 on Ukraine attacks
Russia has launched a full-scale invasion of Ukraine and is targeting cities with weapons strikes, Foreign Minister Dmytro Kuleba said in a tweet.
Published on Feb 24, 2022 10:14 AM IST
Reuters |
Oil near 6-week low as China readies crude reserve release
The bid by the US to cool markets, asking China to join a coordinated action for the first time, comes as inflationary pressures - partly driven by surging energy prices - start to produce a political backlash.
Published on Nov 18, 2021 06:10 PM IST
Reuters |
Oil drops after rallying on signs of rising global fuel demand
The coronavirus is still looming over the market, however, with a resurgence in regions such as India and Brazil clouding the near-term outlook. OPEC+ warned earlier in the week that the flare-up could even derail the recovery.
Published on Apr 30, 2021 10:38 AM IST
Bloomberg |
Oil holds drop near $62 with virus flare-up looming over market
Futures in New York traded near $62 a barrel after slipping 0.4% on Monday. An OPEC+ technical committee raised its forecast for demand growth in 2021, but cautioned that a resurgent virus in India, Japan and Brazil could derail the oil demand recovery.
Published on Apr 27, 2021 06:02 AM IST
Bloomberg |
Oil inches lower on concerns over Covid-19 surge in India, Japan
Brent crude futures fell 8 cents, or 0.1%, to $66.03 a barrel by 0058 GMT, following a 1.1% rise on Friday.
Published on Apr 26, 2021 07:48 AM IST
Reuters |
Oil prices drop as India's Covid-19 surge dents demand outlook
Brent crude futures for June declined USD 1.14, or 1.7 per cent, to USD 65.43 a barrel at 1250 GMT.
Published on Apr 21, 2021 07:34 PM IST
Reuters | | Posted by Srivatsan K C, London
Oil drops toward $62 on concern resurgent virus will sap demand
Oil’s value has risen more than a quarter this year as vaccines are rolled out, paving the way for a relaxation of lockdowns, greater economic activity, and increased mobility.
Published on Apr 21, 2021 06:44 AM IST
Bloomberg |
Oil rises on signs of US inventory drawdown, OPEC bullishness
Oil’s sizzling start to the year faltered in mid-March as some regions saw a resurgence in Covid-19 cases, raising concerns about near-term fuel demand.
Published on Apr 14, 2021 06:26 AM IST
Bloomberg |
Oil prices hold steady as investors weigh rising supplies, demand outlook
Brent crude futures for June edged down 2 cents to $63.18 a barrel by 0450 GMT, while U.S. West Texas Intermediate (WTI) crude for May was at $59.70 a barrel, up 10 cents, or 0.2%.
Published on Apr 09, 2021 01:05 PM IST
Reuters |
Oil prices rise on stronger economic outlook, US stockpile draw
Brent crude futures for June rose by 24 cents, or 0.4%, to $62.98 a barrel by 0403 GMT while U.S. West Texas Intermediate crude for May was up 20 cents, or 0.3%, to $59.53.
Published on Apr 07, 2021 11:41 AM IST
Reuters |
Oil drops after OPEC+ decides on gradual easing of supply curbs
West Texas Intermediate dipped 0.5%, paring the 3.9% gain seen on Thursday, when the alliance decided to loosen its supply curbs gradually.
Published on Apr 05, 2021 06:56 AM IST
Bloomberg |
Oil fluctuates above $60 in run-up to critical OPEC+ gathering
Oil has pulled back in recent weeks as the Covid-19 situation deteriorates in parts of the world ahead of a widely anticipated demand rebound once enough people are vaccinated.
Published on Mar 31, 2021 01:59 PM IST
Bloomberg |
Oil falls as Suez ship partially refloated, market weighs demand
West Texas Intermediate lost as much as 1.9%, while Brent fell. Crude has been hit by rising volatility in recent sessions, with WTI swinging between gains and losses last week.
Published on Mar 29, 2021 10:22 AM IST
Bloomberg |
Oil edges lower near $61 with near-term demand concerns in focus
While oil’s sustained advance this year stalled recently, there is confidence in the longer-term outlook as Covid-19 vaccinations are rolled out worldwide and as the US unleashes significant stimulus.
Published on Mar 23, 2021 05:58 AM IST
Bloomberg |
Oil slump deepens as Europe faces pandemic lockdowns
Prices plunged the most on Thursday since last summer, leaving oil down nearly 10% this week with the reality that the pandemic is abiding, even if infections have plummeted in the U.S., the worst-hit country and biggest crude consumer.
Published on Mar 19, 2021 07:46 AM IST
Reuters | , Tokyo
Oil climbs ahead of data on global demand, US economy
Despite the recent retreat, oil is still up almost 34% this year as output cuts from OPEC+ members tighten supply and as the demand outlook improves with the rollout of Covid-19 vaccines.
Published on Mar 17, 2021 03:37 PM IST
Bloomberg |
Oil advances above $66 as week opens with recovery in focus
The OPEC+ alliance is wagering its tighter-for-longer policy on supply curbs will buttress higher prices without provoking a resurgence in US shale output.
Published on Mar 15, 2021 06:20 AM IST
Bloomberg |
Oil flirting with $70 challenges world’s economic recovery
While prices have since pulled back, the impact on inflation and the overall global recovery depends on how sustained the underlying rally proves to be.
Published on Mar 09, 2021 06:02 AM IST
Bloomberg |
OPEC ignores India's call; Saudi asks New Delhi to use cheap oil bought last yr
India had purchased 16.71 million barrels of crude in April-May, 2020 and filled all the three Strategic Petroleum Reserves created at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka.
Published on Mar 05, 2021 05:51 PM IST
PTI | , New Delhi
OPEC+ debates whether to raise or freeze oil output as price recovers
OPEC+ cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic.
Published on Mar 04, 2021 05:54 PM IST
Reuters | , Dubai/moscow
Oil prices climb after progress on huge US stimulus bill
More positive news on the coronavirus vaccination front and signs of an improving Asian economy also boosted prices.
Published on Mar 01, 2021 07:01 AM IST
Reuters | , Singapore
OPEC+ faces calls to cool oil market frenzy with extra barrels
Prices have rallied to pre-virus levels, while US production has taken a hit from freezing storms.
Published on Feb 28, 2021 12:09 PM IST
Bloomberg |
Oil slumps with wider markets, denting record start to 2021
The demand outlook has improved, with traders and investment banks this week making a series of bullish calls and upward price revisions.
Updated on Feb 26, 2021 06:52 PM IST
Bloomberg |
Oil mixed, US crude hits highest since 2019 as refineries restart
Earlier in the day, an assurance that US interest rates will stay low and a sharp drop in US crude output last week due to the winter storm in Texas, helped boost both US crude and Brent to their highest intraday prices since January 2020.
Published on Feb 26, 2021 06:30 AM IST
Reuters | , New York
Oil set for monthly surge with market watching next OPEC+ move
The recovery from the Covid-19 pandemic accelerated this year after Saudi Arabia pledged deeper output cuts, helping to drain bloated stockpiles.
Published on Feb 26, 2021 06:13 AM IST
Bloomberg |
Oil markets are now balanced, says Russian deputy premier Novak
Brent crude has surged 21% this year to $62.43 a barrel as energy use recovers in the US and China and nations roll out vaccines.
Published on Feb 15, 2021 11:51 AM IST
Bloomberg |
Oil climbs to 13-month highs on output cuts, demand recovery hopes
Investors are also pinning hopes on oil demand recovery when Covid-19 vaccines take effect.
Published on Feb 09, 2021 10:35 AM IST
Reuters | , Singapore
Oil extends rally after OPEC+ pledges to keep clearing surplus
Futures in New York traded above $56 a barrel after closing at the highest level in more than a year. OPEC+ ministers led by Saudi Arabia and Russia “stressed the importance of accelerating market re-balancing without delay” amid “uncertain” prospects for oil demand, according to a communique.
Published on Feb 04, 2021 11:50 AM IST
Bloomberg |
