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oil prices
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Oil marks anniversary of crash below zero with rally above $64
Bloomberg |
PUBLISHED ON APR 20, 2021 02:47 PM IST
- West Texas Intermediate advanced 1.3%, adding to Monday’s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a day amid a budget dispute.
Brent crude floats near $70 on demand recovery anticipation
Reuters | , Singapore
PUBLISHED ON MAR 15, 2021 07:12 AM IST
Brent crude futures for May gained 23 cents, or 0.3%, to $69.45 a barrel by 0102 GMT while US West Texas Intermediate crude for April was at $65.90 a barrel, up 29 cents, or 0.4%.
Oil slips in fragile rally as market struggles for direction
Bloomberg |
PUBLISHED ON MAR 12, 2021 10:00 AM IST
Oil has rallied more than 35% this year as the market tightens due to output cuts from OPEC+ members and as the rollout of vaccines spurs optimism over the demand outlook.
Oil prices rise as vaccine drives bolster economic outlook
Reuters |
UPDATED ON MAR 11, 2021 12:29 PM IST
Brent crude oil futures for May rose 55 cents, or 0.8%, to $68.45 a barrel by 0328 GMT, while US West Texas Intermediate crude for April was up 52 cents, or 0.8%, at $64.96.
After a blip, oil shows gains as focus returns to tightening market
Bloomberg |
PUBLISHED ON MAR 09, 2021 08:55 AM IST
Futures in New York rose toward $66 a barrel after slipping Monday for the first time in four days.
India says OPEC+ decision to extend oil output cuts will hit economic recovery
Reuters | , New Delhi
PUBLISHED ON MAR 05, 2021 10:47 PM IST
Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months in reaction to the decision.
Finance ministry considers cutting taxes on petrol, diesel: Report
Reuters | , New Delhi
PUBLISHED ON MAR 01, 2021 08:44 PM IST
Finance Ministry has now started consultations with some states, oil companies and the oil ministry to find the most effective way to lower the tax burden, sources said.
Oil buoyant near $55 as falling stockpiles add impetus to rally
Bloomberg |
PUBLISHED ON FEB 03, 2021 11:40 AM IST
Saudi Arabia’s pledge last month to unilaterally cut output in February and March has buttressed global oil markets, allowing prices to keep rising even as a resurgent coronavirus hurts the short-term demand outlook.
Oil rises past August high on vaccine progress, Joe Biden transition
By Bloomberg | Posted by Srivatsan K C
PUBLISHED ON NOV 24, 2020 03:17 PM IST
Vaccine optimism has oil heading for its best month since May, with investors looking past a worsening second wave that’s spurring more lockdown measures.
Oil India Ltd logs Rs 249 cr loss in Q1 on slump in oil prices
New Delhi, Delhi | By Press Trust of India | Posted by Shivani Kumar
UPDATED ON AUG 22, 2020 03:20 PM IST
The loss was primarily due to price realised for oil the company produced dropped to USD 30.43 per barrel in the June quarter as compared to USD 66.33 a barrel price realised a year back, he said.
Oil slips as rising coronavirus cases, US-China tensions weigh on markets
Singapore | By Reuters | Posted by Prashasti Singh
UPDATED ON JUL 27, 2020 12:49 PM IST
The fall in oil mirrored moves in broader financial markets in Asia amid concerns about escalating tensions between the world’s two biggest economies following the closure of embassies in Houston and Chengdu. Global coronavirus cases, meanwhile, exceeded 16 million.
Oil falls for a third day with second-wave coronavirus risks in focus
By Bloomberg | Posted by Kanishka Sarkar
UPDATED ON JUN 15, 2020 08:14 AM IST
Crude oil’s six-week rally came to a halt last week amid concerns the worst of the virus isn’t over yet and as the Federal Reserve warned the pandemic could inflict lasting damage on the American economy.
Petrol, diesel prices go up. Here’s what you will have to pay
Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
UPDATED ON JUN 07, 2020 12:44 PM IST
This is the first hike in the base price of both fuels in 80 days.
News updates from Hindustan Times: States tread carefully, likely to redefine zones after May 17 and all the latest news
Hindustan Times, New Delhi | By HT Correspondent
PUBLISHED ON MAY 14, 2020 09:19 AM IST
Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.
Covid-19: Oil prices slide again due to limited storage capacity as demand ebbs
Melbourne | By Reuters
UPDATED ON APR 28, 2020 07:13 AM IST
The main concern is that there is nowhere to store all the oil that is not being consumed due to the drop in global economic activity amid restrictions imposed around the world to curb the spread of the new coronavirus.
Oil prices keep crumbling, stocks around the world tumble
New York | By Associates Press
UPDATED ON APR 22, 2020 06:25 AM IST
In the US, the cost for a barrel of oil to be delivered in June plunged 43% to $11.57. That’s the part of the market that US oil traders are focused on and trading most actively.
Oil drops to 18-year low on global demand crunch amid Covid-19 pandemic
By Bloomberg
UPDATED ON APR 20, 2020 07:17 AM IST
The price collapse is reverberating across the industry: oil explorers shut down 13% of the U.S. drilling fleet last week as the swelling worldwide glut of crude spurred drastic cost-cutting and project cancellations among drillers.
Global markets edge higher, oil prices stabilize amid Covid-19 pandemic
New York | By Reuters
UPDATED ON APR 08, 2020 08:01 PM IST
The Trump administration asked Congress for an additional $250 billion in emergency economic aid for small U.S. businesses reeling from the impact of the outbreak.
Rahul Gandhi takes aim at PM Narendra Modi for excise duty hike on fuel
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON MAR 15, 2020 03:13 PM IST
The government expects to mop up Rs 40,000 crore of additional revenue with the new slab of excise duty.
Saudi Aramco’s net income drops to $88.2 billion in 2019
Riyadh | By Associated Press
UPDATED ON MAR 15, 2020 01:06 PM IST
Saudi Aramco posted net profits of $88.2 billion last year compared to $111.1 billion in 2018, it said in the statement to the Saudi Stock Market.
A flood of $25-a-barrel Saudi Arabian oil is headed for Europe
Bloomberg | By Sherry Su and Javier Blas
UPDATED ON MAR 12, 2020 07:22 AM IST
The Saudi discounts are so big that Arab Light will “push out” Urals and other crude streams “from regional refiners’ diet” unless their relative price also falls, Amrita Sen, chief oil analyst at consultant Energy Aspects Ltd. said in a note to clients.
Rupee sinks further, hits record low of 73.77 against US dollar
Mumbai | By Press Trust of India
UPDATED ON OCT 04, 2018 10:32 AM IST
The rupee plunged 43 paise against the dollar, after it collapsed on Wednesday amid surging oil prices.
Government launches 5 measures to boost rupee, says more in offing
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON SEP 14, 2018 11:12 PM IST
Finance Minister Arun Jaitley’s statement comes after a crucial review meeting against the backdrop of a weakening rupee, high oil prices and a widening current account deficit.
Falling rupee, rising crude prices to give states Rs 22,700 crore windfall: Report
Mumbai | By Press Trust of India
UPDATED ON SEP 12, 2018 01:05 PM IST
An increase of $1 a barrel in crude price translates to Rs 1,513 crore revenue gain on an average to all the major 19 states, the report noted.
Iran tells Donald Trump: Stop tweeting, it’s driving up oil prices
Mohammed Aly Sergie, Bloomberg | By HT Correspondent
UPDATED ON JUL 05, 2018 07:18 PM IST
Donald Trump tweeted Wednesday that the Organization of Petroleum Exporting Countries is “doing little to help” reduce US gasoline costs
Rupee breaches 69-mark against US dollar, recovers marginally to 68.91
Bloomberg | By Subhadip Sircar
UPDATED ON JUN 28, 2018 11:45 AM IST
The rupee had touched its previous record low of 68.8650 per dollar on November 24, 2016.
Oil surge fallout: IndiGo flight tickets to get costlier by 200-400 rupees
Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON MAY 30, 2018 12:35 PM IST
The airline also cited depreciation of the Indian rupee as an additional cost burden on domestic carriers already affected by the sharp uptick in the price of aviation turbine fuel.
Modi govt’s oil problem set to worsen ahead of 2019 elections with Saudi’s $80 a barrel goal
Bloomberg | By Saket Sundria and Anirban Nag
UPDATED ON MAY 24, 2018 11:45 AM IST
The Modi government made the most of cheap oil by substituting any fall in prices with taxes that kept retail fuel rates unchanged for consumers and boosted the federal revenue.
Déjà vu: How India and other oil buyers tackled US curbs on Iran before
Bloomberg | By Pratish Narayanan
UPDATED ON MAY 09, 2018 02:12 PM IST
Countries such as China, now the world’s biggest oil importer, and India, where demand is growing faster than anywhere else, had repeatedly expressed disapproval of earlier measures which forced them to curb Iranian crude imports even though broader United Nations sanctions did not.