[

oil prices

]
Oil’s forward curve also suggests growing confidence -- particularly as U.S. demand recovers -- with the spread between WTI’s contracts for December this year and 2022 at the widest backwardation in about a month.(Reuters file photo/ Representative)

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.
Investors are expecting China to release positive economic data on Monday, supporting forecasts of stronger growth at the world's second largest oil consumer.(Bloomberg)
Investors are expecting China to release positive economic data on Monday, supporting forecasts of stronger growth at the world's second largest oil consumer.(Bloomberg)

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%.
FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant/File Photo(REUTERS)
FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant/File Photo(REUTERS)

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.
A crude oil tanker is seen at Qingdao Port, Shandong province, China.(Reuters)
A crude oil tanker is seen at Qingdao Port, Shandong province, China.(Reuters)

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.
The sun sets behind an idle pump jack near Karnes City, USA. (AP)
The sun sets behind an idle pump jack near Karnes City, USA. (AP)

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.
Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)
Meanwhile US crude oil inventories dropped by 1.7 million barrels in the week to Jan. 1 to 491.3 million barrels, data from industry group the American Petroleum Institute showed late on Tuesday.(Reuters file photo)

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.
A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at gas stations in India.(Amal KS/ Hindustan Times)
A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at gas stations in India.(Amal KS/ Hindustan Times)

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.
Futures in New York traded near $55 a barrel after jumping almost 5% over the previous two sessions in tandem with a broader rally in financial markets. (Representative Image)(Reuters file photo)
Futures in New York traded near $55 a barrel after jumping almost 5% over the previous two sessions in tandem with a broader rally in financial markets. (Representative Image)(Reuters file photo)

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.
Saudi Arabia confirmed that Houthi rebels in Yemen targeted an oil facility in northern Jeddah province.(REUTERS)
Saudi Arabia confirmed that Houthi rebels in Yemen targeted an oil facility in northern Jeddah province.(REUTERS)

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 produced 0.75 million tonnes of crude oil in April-June, down marginally from 0.81 million tonnes a year back.(HT file photo)
OIL produced 0.75 million tonnes of crude oil in April-June, down marginally from 0.81 million tonnes a year back.(HT file photo)

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.
Brent crude dipped 10 cents, or 0.2%, to $43.24 a barrel by 0041 GMT while US West Texas Intermediate (WTI) crude was at $41.24 a barrel, down 5 cents.(Reuters image)
Brent crude dipped 10 cents, or 0.2%, to $43.24 a barrel by 0041 GMT while US West Texas Intermediate (WTI) crude was at $41.24 a barrel, down 5 cents.(Reuters image)

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.
The pace of recovery in oil prices is likely to slow as the steepest decline in supply and the fastest improvement in demand is probably behind the market, Barclays Plc said in a note Friday.(Reuters File Photo)
The pace of recovery in oil prices is likely to slow as the steepest decline in supply and the fastest improvement in demand is probably behind the market, Barclays Plc said in a note Friday.(Reuters File Photo)

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.
Diesel price were last revised on March 16.(Satyabrata Tripathy/HT Photo)
Diesel price were last revised on March 16.(Satyabrata Tripathy/HT Photo)

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.
The old quarters of New Delhi is seen during a nationwide lockdown to control the spread of coronavirus(AP Photo)
The old quarters of New Delhi is seen during a nationwide lockdown to control the spread of coronavirus(AP Photo)

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.
In this photo taken on Thursday, April 23, 2020, new cars are parked in front of the closed car dealership in Moscow, Russia.(AP)
In this photo taken on Thursday, April 23, 2020, new cars are parked in front of the closed car dealership in Moscow, Russia.(AP)

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.
Natural gas flares are seen at an oil pump site outside of Williston, North Dakota.(Reuters File Photo)
Natural gas flares are seen at an oil pump site outside of Williston, North Dakota.(Reuters File Photo)

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.
China reported its first economic contraction in decades on Friday, a sign of how bad things could get in Europe and North America, which have yet to emerge from virus lockdown.(Bloomberg file photo)
China reported its first economic contraction in decades on Friday, a sign of how bad things could get in Europe and North America, which have yet to emerge from virus lockdown.(Bloomberg file photo)

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.
Early gains in the United States helped push MSCI’s index of global equities up 0.69% after a broad rally in Japan and modest declines in Europe.(AP file photo)
Early gains in the United States helped push MSCI’s index of global equities up 0.69% after a broad rally in Japan and modest declines in Europe.(AP file photo)

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 had asked for the benefit of global oil price crash to be passed on to consumers.(HT PHOTO)
Rahul Gandhi had asked for the benefit of global oil price crash to be passed on to consumers.(HT PHOTO)

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.
The results come as Aramco now trades a sliver of its worth on Riyadh’s Tadawul stock exchange.(Reuters File Photo)
The results come as Aramco now trades a sliver of its worth on Riyadh’s Tadawul stock exchange.(Reuters File Photo)

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.
Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia, on March 11, 2020.(Bloomberg)
Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia, on March 11, 2020.(Bloomberg)

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.
(Bloomberg)
(Bloomberg)

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.
Finance minister Arun Jaitley attends a news conference in New Delhi.(Reuters File Photo)
Finance minister Arun Jaitley attends a news conference in New Delhi.(Reuters File Photo)

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.
The largest gain will be in Maharashtra to the tune of Rs 3,389 crore followed by Gujarat at Rs 2,842 crore, the report said.(AP)
The largest gain will be in Maharashtra to the tune of Rs 3,389 crore followed by Gujarat at Rs 2,842 crore, the report said.(AP)

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.
US President Donald Trump addresses the 'Face-to-Face With Our Future' event at the White House in Washington on June 27, 2018.(REUTERS)
US President Donald Trump addresses the 'Face-to-Face With Our Future' event at the White House in Washington on June 27, 2018.(REUTERS)

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
The rupee closed at 68.65/66 per US dollar on Wednesday.(Reuters File Photo)
The rupee closed at 68.65/66 per US dollar on Wednesday.(Reuters File Photo)

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.
Aircraft fuel expenses represent the single-largest item on Indigo’s total expenses, accounting for around 40% of its operational costs.(REUTERS File)
Aircraft fuel expenses represent the single-largest item on Indigo’s total expenses, accounting for around 40% of its operational costs.(REUTERS File)

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.
Holding prices even for days weighs on the finances of the state refiners Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp.(AFP File Photo)
Holding prices even for days weighs on the finances of the state refiners Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp.(AFP File Photo)

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.
The crude oil tanker 'Devon' sails through the Persian Gulf towards Kharq Island to transport crude oil to export markets in the Persian Gulf, Iran.(Ali Mohammadi/Bloomberg)
The crude oil tanker 'Devon' sails through the Persian Gulf towards Kharq Island to transport crude oil to export markets in the Persian Gulf, Iran.(Ali Mohammadi/Bloomberg)

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.
SHARE
Story Saved