Oil prices rise after US interest rate cut
By Colleen Howe BEIJING (Reuters) -Oil prices rose on Thursday after a large interest rate cut from the U.S. Federal Reserve, but concerns over global demand lingered and capped gains. Brent crude Key Points
ThePrintOil prices gain 2% on hopes of a US Fed rate cut next month
By Nicole Jao (Reuters) -Oil prices rose on Thursday, as expectations for a U.S. interest rate cut in a few weeks fueled a rebound after four days of price declines. Brent crude futures gained $1.55, Key Points
ThePrintOil prices settle $1 up on hopes of a US Fed rate cut next month
By Nicole Jao (Reuters) -Oil prices settled up more than 1% on Thursday, as expectations for a U.S. interest rate cut in a few weeks fueled a rebound after four days of price declines. Brent crude Key Points
ThePrintOil prices tick down after surprise rise in US crude stockpiles
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices edged lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in Key Points
ThePrintOil prices rise off six-week lows as US fuel stocks decline
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose on Wednesday, supported by large draws in U.S. crude and fuel stocks, but were still close to their lowest level in six weeks due to concerns Key Points
ThePrintOil broadly steady after surprise US crude stock drop
By Paul Carsten LONDON (Reuters) -Oil prices were broadly steady on Thursday, as a surprise U.S. crude stock drop and the U.S. Federal Reserve sticking to its outlook on rate cuts for the year offered Key Points
ThePrintOil retreats from multi-month highs, strong dollar dents demand
International Business News: Oil prices declined as traders took profits and the dollar strengthened. Brent crude at $87.22, April WTI at $83.16. Market focused on Fed's rate anno Key Points
Times Of IndiaOil prices hold gains on upbeat China trade data
By Florence Tan SINGAPORE (Reuters) -Oil prices held steady on Thursday, holding onto overnight gains after upbeat Chinese trade data and after U.S. data showed a smaller-than-expected rise in crude Key Points
ThePrintOil prices climb 2% on small build in US crude stocks, Fed rate cut seen
By Scott DiSavino NEW YORK (Reuters) - Oil prices climbed about 2% on Wednesday on a smaller-than-expected build in U.S. crude inventories, a big withdrawal from distillate and gasoline stockpiles and Key Points
ThePrintOil eases as Fed caution, stock build outweigh OPEC+ news
By Mohi Narayan NEW DELHI (Reuters) - Oil prices pulled back in Asia on Wednesday as the prospect of a delay in the U.S. rate-cutting cycle and a rise in U.S. crude stocks offset a boost on Tuesday Key Points
ThePrintOil rises on shipping tensions but US inventory build caps gains
By Georgina McCartney Houston (Reuters) -Oil futures rose on Thursday as attacks continued on shipping in the Red Sea near Yemen but a large build in U.S. crude inventories curbed gains. Brent crude Key Points
ThePrintOil rises as tensions in the Red Sea reach boiling point
By Georgina McCartney HOUSTON (Reuters) -Oil futures rose on Thursday as Iran-aligned Houthis stepped up attacks in the Red Sea near Yemen, but a large build in U.S. crude inventories weighed on gains Key Points
ThePrintOil steadies as rising US inventories offset ship attack
By Ahmad Ghaddar LONDON (Reuters) -Oil prices steadied on Thursday, after earlier gains, as a big rise in U.S. crude inventories offset the supportive impact of another attack on shipping near Yemen. Key Points
ThePrintOil rises 1% on signs of tightening supplies
By Shariq Khan NEW YORK (Reuters) -Oil prices rose about 1% on Wednesday as geopolitical tensions raged on in the Middle East and traders assessed signs of near-term supply tightness. U.S. West Texas Key Points
ThePrintOil rises as investors weigh Red Sea attacks, US rate cut outlook
By Mohi Narayan NEW DELHI (Reuters) -Oil prices regained some ground in Asian trade on Wednesday amid concerns over attacks on shipping in the Red Sea and growing expectations that cuts to U.S. Key Points
ThePrint
ONGC Q3 Preview: PAT may fall 13% YoY on weak crude and gas price realisations
Net profit for the third quarter is likely to fall around 13% year-on-year (YoY), according to an average estimate of four brokerages. On a sequential basis, profit is seen dropping by a marginal 1%. Key Points
Economic TimesOil gains as Gaza ceasefire talks in focus
By Paul Carsten LONDON (Reuters) -Oil prices maintained upward momentum on Tuesday as investors awaited the result of top U.S. diplomat Antony Blinken's efforts in the Middle East to halt the Gaza war Key Points
ThePrintOil dips on faltering China economy, US crude stock build
By Laura Sanicola (Reuters) -Oil prices fell on Wednesday, pressured by low economic activity in leading crude importer China and a surprise build in U.S. crude inventories as producers ramped up Key Points
ThePrintDeadline to levy additional duty on unblended diesel deferred
The Indian government has extended the deadline for implementing an additional ₹2 per litre tax on unblended diesel to April 1, 2025. The tax, aimed at promoting biofuels and reducing crude imports, was initially announced in the FY23 budget. The move aligns with India's commitment to enhance domestic crude production, increase ethanol blending, and focus on renewables to cut crude imports by 10% to 67% by 2025. Key Points
Economic TimesRed Sea Crisis: No disruption in oil flows to India, only freight up, says HPCL head
The attacks on shipping vessels in the Red Sea by Houthi militants have not affected India's crude oil supply, according to Hindustan Petroleum Corporation Ltd (HPCL) Chairman Pushp Kumar Joshi. He mentioned that although Russian ships and cargoes are not primary targets of the attacks, the rerouting of ships around the Cape of Good Hope has led to longer voyages, causing a shortage of ships and an increase in freight charges. Key Points
Economic TimesOil edges higher, on track for weekly gain on strong economic growth
By Georgina McCartney and Arathy Somasekhar HOUSTON (Reuters) -Oil prices edged slightly higher in choppy trading on Friday, heading for a second weekly gain as positive U.S. economic growth and signs Key Points
ThePrintOil prices ease in early trading; set to post weekly gains
(Reuters) - Oil prices eased in early trading on Friday, but were set to close higher for the week on positive economic data from the United States and China and a draw in U.S. crude stocks. Brent Key Points
ThePrintOil rises on US crude stock draw, Red Sea attack
By Noah Browning LONDON (Reuters) -Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week and a fresh attack by Houthi forces on ships off Yemen's coast Key Points
ThePrintOil perks up nearly 2% on US crude stock draw, Red Sea tensions
By Noah Browning LONDON (Reuters) - Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week and a fresh attack by Houthi forces on ships off Yemen's coast Key Points
ThePrintOil prices rise 2% driven by Red Sea tensions, US crude stock draw; Brent reaches $81/bbl
Oil prices also drew support from hopes for China's economic recovery. China's central bank announced a deep cut in bank reserves on Wednesday, in a move that will inject about $140 billion of cash into the banking system. Key Points
mintOil rises $1 on US crude stock draw, Red Sea attack
By Noah Browning LONDON (Reuters) - Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week and a fresh attack by Houthi forces on ships off Yemen's coast Key Points
ThePrintOil edges up 1% on big US crude withdrawal, China stimulus
By Scott DiSavino NEW YORK (Reuters) - Oil prices edged up about 1% on Wednesday on a bigger-than-expected U.S. crude storage withdrawal, a slump in U.S. crude output, Chinese economic stimulus, Key Points
ThePrintOil prices rise on big draw in US crude stocks, China stimulus hopes
By Yuka Obayashi TOKYO (Reuters) - Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank's cut in banks' reserve ratio Key Points
ThePrintOil prices dip, with signals mixed on crude supply outlook
By Laila Kearney NEW YORK (Reuters) -Oil prices slipped on Tuesday as traders weighed production outages in the U.S. and tensions in the Middle East and Europe against rising crude supply in Libya and Key Points
ThePrintOil prices settle down slightly on more supply in US and abroad
By Laila Kearney NEW YORK (Reuters) - Oil prices settled slipped on Tuesday as traders focused on rebounding crude output in parts of the U.S., along with rising supply in Libya and Norway, rather Key Points
ThePrintOil prices edge up with signals mixed on crude supply outlook
By Laila Kearney NEW YORK (Reuters) -Oil prices inched up Tuesday, as traders weighed production outages in the U.S. and tensions in the Middle East and Europe against rising crude supply in Libya and Key Points
ThePrintRed Sea: Oil market makes plan to navigate weeks-long troubled waters amidst Houthi threats
The oil market is bracing for long-term disruptions in the southern Red Sea due to attacks by Houthi militants. Charters of tankers reveal that more vessels are being hired for routes that avoid the danger zone. Airstrikes in Yemen by the US and UK have increased chaos in the area. Tankers are now being hired to sail to Asia instead of Europe, leading to a surge in earnings. Additionally, there has been a significant volume of Iraqi crude cargoes booked to sail from the Persian Gulf to Europe around Africa. Key Points
Economic TimesRussia topped Saudi Arabia to become China's biggest oil supplier in 2023
Russia shipped a record 107.02 million metric tonnes of crude oil to China last year, equivalent to 2.14 million barrels per day (bpd), the Chinese customs data showed, far more than other major oil exporters such as Saudi Arabia and Iraq. Key Points
India TodayOil prices tick up as Middle East tensions rise
By Colleen Howe BEIJING (Reuters) - Oil prices ticked higher in Asian trading as markets measured rising tensions in the Middle East against a surprise build in U.S. crude stockpiles that pushed oil Key Points
ThePrintOil stabilises as investors watch for Red Sea developments
International Business News: Oil prices stabilised as major shippers resumed passage through the Red Sea despite attacks and Middle East tensions. Brent crude futures down at $80. Key Points
Times Of IndiaOil falls over demand concerns after U.S. inventory build
By Yuka Obayashi TOKYO (Reuters) -Oil prices fell on Thursday as concerns over low demand following a surprise U.S. crude inventory build outweighed jitters over global trade disruptions due to Key Points
ThePrintOil prices fall on demand concerns after US stock build
By Yuka Obayashi TOKYO (Reuters) - Oil prices fell on Thursday, as concerns over low demand following a surprise U.S. crude inventory build outweighed jitters over global trade disruptions and Key Points
ThePrintOil set to end winning streak over US stock build
By Yuka Obayashi TOKYO (Reuters) -Oil prices fell on Thursday and were on track to snap a three-day winning streak, as concerns over low demand following a surprise U.S. crude inventory build Key Points
ThePrintSofter global oil price cuts windfall tax collections
India's windfall tax collections from crude oil and auto fuels have fallen 9% to ₹1.5tn in April-October due to lower energy prices and falling domestic production. Key Points
mintOil rises on U.S. inventory draw, upbeat demand expectations
By Laura Sanicola and Trixie Yap (Reuters) -Oil prices rose in Asian trade on Thursday, extending previous gains, on a bigger-than-expected weekly withdrawal from U.S. crude storage and hopeful demand Key Points
ThePrint
Oil prices remain flat on concerns over crude oversupply
Brent crude futures dipped 6 cents to $75.78 a barrel by 1427 GMT. US West Texas Intermediate crude futures were down 7 cents at $71.16 Key Points
mintOil drops on demand worries after US gasoline inventories swell
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices fell by 2.5% on Wednesday, as a bigger-than-expected rise in U.S. gasoline inventories worried markets about demand and outweighed a draw in crude Key Points
ThePrintIndia shows some reliance on Venezuelan oil after 3-year hiatus as US sanctions ease
India plans to resume importing Venezuelan oil after a three-year pause, seizing the opportunity presented by eased US sanctions on the South American nation. Reliance Industries Ltd has booked two supertankers, C. Earnest and C. Genuine, along with Very Large crude Carrier Eucaly, potentially holding a total of 6 million barrels. Key Points
Economic TimesBrent retreats ahead of OPEC+ oil production decision
Brent crude futures slipped as traders speculated on OPEC+ production cuts. US crude also slid. Both contracts are set for their first weekly gain in Key Points
Times Of IndiaOil climbs over 2% as OPEC seen deepening cuts
International Business News: Oil prices rose over 2% on Monday in anticipation of further supply cuts by OPEC+ following their upcoming meeting. Brent crude settled at $82.32 a ba Key Points
Times Of India
US sanctioned tankers previously shipped Russian crude to India
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the Group of Seven's price cap. Key Points
Business TodayOil headed for third weekly decline on global demand concerns; Brent ticks higher to $81/bbl
Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a November 17 expiry, was last trading higher by 1.22 per cent at ₹6,450 per bbl, having swung between ₹6,330 and ₹6,472 per bbl during the session so far. Key Points
mintOil sputters near three-month lows as demand concerns mount
International Business News: Oil prices continued to decline due to concerns over weakening demand in the United States and China. Brent crude futures fell by 8 cents to $81.53 a Key Points
Times Of IndiaRupee opens little changed at 83.25 against the US dollar amid drop in oil prices, US Treasury yields
The US dollar index, which gauges the greenback’s strength against a basket of six currencies, was 0.03% higher at 105.58. The 10-year US yield was down to 4.58%. Key Points
mintOil rises over 1% after US Fed keeps rates unchanged
Brent crude futures rose 89 cents, or 1.1%, to $85.52 a barrel by 0324 GMT, while US West Texas Intermediate crude futures advanced 91 cents, also 1.1%, to $81.35 a barrel. Key Points
India Today
Oil rises 3% to 1-week high as Israel-Hamas war raises supply concerns; Brent settles at $90/bbl
Brent futures rose $2.55, or 2.9 per cent, to settle at $90.48 a barrel, while US West Texas Intermediate (WTI) crude rose $2.33, or 2.8 per cent, to settle at $85.54 Key Points
mintOil falls more than $2 on easing Middle East fears
By Erwin Seba HOUSTON (Reuters) -Oil prices fell more $2 a barrel on Thursday as fears of a wider Middle East conflict eased at the same time that U.S. demand showed signs of weakening. Brent crude Key Points
ThePrintOil steady as market eyes Middle East tensions, higher US crude stockpiles
By Jeslyn Lerh SINGAPORE (Reuters) - Oil prices were little changed on Thursday as the market weighed mixed drivers, eyeing tensions in the Middle East while digesting a rise in U.S. crude stockpiles. Key Points
ThePrintOil reports second straight weekly gain on Israel-Hamas concerns; Brent settles lower at $92/bbl
Both Brent crude and US WTI had gained more than a dollar per barrel during Friday's session on signs of escalation of the conflict. For the week, both front-month contracts rose over 1 per cent, a second straight weekly jump. Key Points
mintIndia cuts windfall tax on domestic crude, export of diesel, ATF
The government on Tuesday cut special additional excise duty (SAED) on crude petroleum to Rs 9,050/tonne with effect from October 18.In the last fortnightly review on September 29, windfall tax on domestically produced crude oil was set at Rs 12,200/tonne. Key Points
Economic TimesOil rises about 1% despite surge in U.S. crude stockpiles
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose on Thursday on expectations that U.S. interest rates had peaked, but gains were capped by a large build in U.S. crude stockpiles and a forecast Key Points
ThePrintOil reverses gains after US posts large crude build
By Stephanie Kelly NEW YORK (Reuters) - Oil prices reversed earlier gains on Thursday in a volatile session, after a large build in U.S. crude stockpiles outweighed expectations that U.S. interest Key Points
ThePrintSurging crude may take CAD past 2% of GDP, say economists
Economists predict that India's Current Account Deficit (CAD) will increase in the second half of the fiscal year, surpassing 2% of GDP. The CAD for the June quarter was 1.1% of GDP, lower than expected, but the gap widened due to a contraction in the trade deficit. Rising crude oil prices, particularly for Russian crude, which accounts for a third of India's fuel imports, are a major factor contributing to the widening CAD. If oil prices average $100 per barrel in the second half of the fiscal year, the CAD could reach 2.1% of GDP. Key Points
Economic TimesCAD to surge on higher crude prices
The current account deficit (CAD) for the June quarter in India was 1.1% of GDP, lower than expected, but economists anticipate a significant increase in the second half of the fiscal year due to rising crude oil prices and shrinking exports. crude oil prices play a crucial role in determining the CAD, and with prices rising and supply-side cuts by OPEC, the CAD is expected to worsen. Key Points
Economic TimesRBI MPC, crude oil among top 10 factors to impact D-Street mood this week
The week ahead will be important for the markets as the Reserve Bank of India (RBI) will announce its monetary policy decisions, and investors will closely monitor global events such as the US manufacturing PMI data, UK manufacturing data, and China's manufacturing PMI data. The movement of the Indian rupee against the US dollar and crude oil prices will also impact market performance. Key Points
Economic Times
Rs 2.5 lakh crore wiped off! Sensex crashes 610 points, Nifty below 19,550
Indian shares fell on Thursday due to global market weakness, rising crude oil prices, and persistent selling by Foreign Institutional Investors (FIIs). The BSE Sensex declined 0.92% and the Nifty50 fell below 19,550. The decline was seen across sectors, with IT and FMCG being the top losers. Today's bloodbath resulted in the market capitalisation of all listed companies on BSE declining by Rs 2.55 lakh crore to Rs 317.05 lakh crore. Key Points
Economic TimesOil prices climb on crude draw, tight global supply
By Florence Tan and Mohi Narayan (Reuters) -U.S. oil futures jumped to their highest in more than a year on Thursday as a drop in crude stocks in the United States added to worries over tight global Key Points
ThePrintOil climbs 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices surged 3% on Wednesday to the highest settlement in 2023, after a steep drop in U.S. crude stocks compounded worries of tight global supplies. Brent Key Points
ThePrintUS oil jumps $1 on crude draw, tight global supply
By Florence Tan (Reuters) -U.S. oil jumped nearly $1 a barrel on Thursday to its highest in more than a year as a steep drop in crude stocks in the United States added to worries of tight global Key Points
ThePrintOil jumps 3% as steep US crude stockdraw adds to supply concerns
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices surged about 3% on Wednesday, after U.S. crude stocks fell more than expected, adding to worries of supply tightness amid OPEC+ production cuts. Key Points
ThePrintOil jumps 3% as steep US crude stocks draw adds to supply concerns
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices surged 3% on Wednesday, after U.S. crude stocks fell more than expected, adding to worries of tight global supplies. Brent crude futures breached $97 Key Points
ThePrintOil prices edge higher as markets focus on supply tightness
By Arathy Somasekhar (Reuters) - Oil prices ticked up in early trade on Wednesday, as markets focused on supply tightness heading into winter and a "soft landing" for the U.S. economy. Brent crude Key Points
ThePrintOil prices climb on expectations of lower OPEC+ exports in August
Brent crude climbed 75 cents to $85.55 a barrel by 0301 GMT, while U.S. West Texas Intermediate crude was at $82.05 a barrel, up 80 cents. The September WTI contract expires on Tuesday and the more active October contract gained 73 cents to $81.39 a barrel. Key Points
Business TodayIOC begins digitalisation drive to optimise operations, management
The objective is to improve yields and cut down on any interruptions, said Grover, adding that each day of refining interruption would mean a potential loss of Rs 200-300 crore in sales. The new digital architecture at the firm helps “predict what can go wrong and help us act to prevent that”, Manish Grover, executive director (strategic information systems), Indian Oil Corporation, said. Key Points
Economic TimesOil falls as China fears counter tight US supply
By Laura Sanicola (Reuters) -Oil prices fell on Wednesday despite a large drawdown in U.S. crude stocks as investors weighed worries about China's embattled economy against expectations of tighter Key Points
ThePrintOil steadies as China fears counter tight US supply
By Laura Sanicola (Reuters) -Oil prices were little changed on Wednesday despite a large drawdown in U.S. crude oil stocks as investors weighed worries about China's embattled economy against Key Points
ThePrintIndia’s Russian oil buying spree continues even as prices climb
India Business News: Indian buyers will continue to purchase crude oil from Russia. Price continues to serve as the primary determinant. Official statistics reveal that in Key Points
Times Of IndiaRussian oil to India in June the cheapest since war in Ukraine
The average cost of Russian crude arriving in India in June reached the lowest level since the country's invasion of Ukraine over a year ago. The price was $68.17 per barrel, including shipping costs, down from $70.17 in May. India is among the countries that have become reliant on cheaper Russian crude since the war, along with China. Key Points
Economic Times