Oil prices kept to a tight range on Monday amid persistent concerns over high inflation and rising U.S. interest rates, while traders awaited more cues on demand from key Chinese economic readings this week. Readings on China’s Purchasing Mangers’ Index (PMI) for February are due on Wednesday. Indicators for January had portrayed a somewhat mixed […]
Oil prices rose slightly on Monday tracking optimistic comments on a recovery in Chinese demand from the International Energy Agency, although markets were still nursing steep weekly losses on fears of tighter U.S. monetary policy. International Energy Agency head Fatih Birol reiterated the agency’s call that China will push global crude demand to record highs […]
Oil prices were muted in early trade on Tuesday as optimism over better-than-expected economic data from China was offset by caution over an upcoming Federal Reserve meeting and an OPEC decision on production. Chinese business activity grew more than expected in January, government data showed, indicating that the country’s economy was clearly on a path […]
Oil hovered near a one-year low on Wednesday as increasing concerns over U.S. economic health and the Federal Reserve largely offset positive supply-side signals from a bigger-than-expected draw in crude inventories. A growing number of Wall Street banks warned of a potential recession in 2023, especially if interest rates keep rising and if inflation proves […]
Oil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and […]
Oil prices fell slightly on Wednesday as investors awaited more clarity on a potential Russian missile strike against Poland, while mixed U.S. inventory data and concerns over slowing Chinese demand also brewed more uncertainty in the market Crude markets were focused squarely on the North Atlantic Treaty Organization’s (NATO) response to a Russian-made missile killing […]
Oil prices fell in choppy trade on Tuesday and nursed steep losses this week as weak economic data from China brewed more concerns over worsening demand, although the prospect of smaller U.S. rate hikes and tightening supply helped limit losses. Crude markets plummeted at the beginning of the week after rising COVID cases in major […]
Oil prices rose on Monday as markets bet that an eventual scaling back of COVID-19 measures in China will boost the country’s crude demand, while looming curbs on Russian oil shipments also appeared set to tighten supply Crude prices closed last week lower, but rallied sharply on Friday after China said it will loosen some […]
Oil prices retreated from a three-week high on Thursday after weak economic data from China pointed to more trouble in the world’s largest crude importer, while the outlook for demand was also dimmed by the prospect of higher U.S. interest rates A private survey showed that China’s massive services sector shrank for a second straight […]
By Administrator_India Capital Sands Puducherry government on August 25 announced a tax cut in petrol prices. The territorial administration has cut value-added tax (VAT) on petrol by 3 percent. The decision on the reduction was taken by Chief Minister N Rangasamy at a meeting of the territorial cabinet earlier and was approved by Lieutenant Governor […]