Crude Oil

Nearing elections, softening crude restrain oil firms from hiking prices

Fuel prices in the country have remained steady for over a fortnight now as softening crude and upcoming elections in several states later this months has kept Oil companies from revising the retail prices.

Mar 18, 2021

How Biden's presidency could be huge win for Middle East | Explained

"A Biden presidency is likely to be a huge win for the Middle East to gain back the market share as it restricts shale production and can be supportive for crude oil prices," the report said.

Oct 17, 2020

Crude oil or cooking oil? For some US refiners, it's now a choice

Refiners have always produced fuel using crude oil. Now some are using grease.

Aug 27, 2020

India's crude imports fall to lowest in over a decade in July

India's crude oil imports fell in July to their lowest since March 2010 as fuel demand slowed amid renewed coronavirus-induced lockdowns and closures of refinery units for maintenance, government data showed on Thursday.

Aug 21, 2020

Donald Trump suspends immigration into US: 'Need to protect the jobs of American citizens'

US President Donald Trump said late on Monday night, April 20 that he will be signing an executive order to temporarily suspend immigration into the United States.

Apr 21, 2020

Oil jumps to highest in more than a week after Libyan shutdowns

In the latest development in a long-running conflict in Libya, the National Oil Corporation (NOC) on Sunday said two big oilfields in the southwest had begun shutting down.

Jan 20, 2020

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Market today: Sensex up by 460 points, Nifty over 12,000 mark as oil cools marginally

The price of oil surged in the last two trading sessions after a drone strike by the US in Baghdad killed top Iranian military commander Qassem Soleimani.

Jan 7, 2020

Sensex, Nifty stumble as oil jumps after US air strikes Baghdad International Airport

India, the world's third-biggest oil consumer, imports about 80 per cent of its oil needs, making it highly susceptible to crude price swings.

Jan 3, 2020

Oil hits three-month highs on upbeat US and Chinese economic data

Data on Friday showed profits at China's industrial firms rose at the fastest pace in eight months in November.

Dec 27, 2019

Make in India: Govt may halve domestic crude cess to push oil, gas exploration

Cess on domestic crude is currently levied at the rate of 20 per cent of the value of oil. This may come to 10 per cent.

Dec 25, 2019

Government mulling premium on petrol, diesel prices on BS-VI switchover

The global oil market has largely remained flat for the past several months due to slower demand.

Dec 22, 2019

Petrol, diesel prices stable for 2nd day: Check latest rates in your city

In this month so far, the petrol prices have increased by Rs 1.3 while that of diesel has increased by 4 paise.

Nov 21, 2019

OPEC crude output to average 29.6m barrels a day: EIA

In its October Short-Term Energy Outlook, EIA also forecast that annual average OPEC crude oil production will average 29.8 million b/d in 2019, down by 2.1 million b/d from 2018.

Oct 9, 2019

Saudi plans major investment in India's refining, petrochemical sector

The Kingdom's state-owned Saudi Aramco is a joint venture partner of the $44 billion-Ratnagiri Refinery and Petrochemicals Ltd, which is reportedly decided to establish its refining and petrochemical facilities in Raigad district of Maharashtra.

Sep 30, 2019

Iran warns of 'strong step' away from nuclear deal if Europe cannot offer new terms

Iran's oil should be bought and its money should be accessible to return to the country, said Ali Rabiei, an Iranian government spokesman.

Sep 2, 2019

Anyone providing support to blacklisted Iranian tanker will face sanction, warns US

Tensions between Tehran and Washington have risen since President Trump withdrew from a landmark 2015 nuclear deal between major powers and Iran last year and imposed crippling unilateral sanctions.

Aug 31, 2019

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Rupee slips against US dollar after Trump threatens to raise Chinese import tariffs

Volatility index India VIX spikes over 10 per cent to hit a new high of 27.83 points as Nifty crashes below 11,600 tracking global indices; US dollar inches closer to Rs 70 and crude dips below $70.

May 6, 2019

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Global Markets: Asian shares pause near eight-month high, dollar weakens

Overnight, European and U.S. shares gained. On Wall Street, the S&P 500 added 0.35 per cent, the Nasdaq climbed 0.7 per cent while the Dow was barely changed.

Apr 11, 2019

Inflation seen inching up in March, but still below RBI target: Survey

According to the median consensus of over 40 economists polled by Reuters between April 4 and 8, consumer prices rose at an annual rate of 2.80 per cent in March, up from 2.57 per cent in February.

Apr 9, 2019

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Oil hits November 2018 highs amid OPEC supply cuts, US sanctions

Brent and WTI both hit their highest levels since November last year at $70.76 and $63.48 per barrel, respectively, early on Monday.

Apr 8, 2019

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