Oil prices jumped on Tuesday as traders bet that recent weakness in the market will invite more supply cuts by the OPEC, while anti-government protests in China and hawkish signals from the Federal Reserve worsened the outlook for demand. Oil marked a volatile start to the week, initially tumbling as much as 3% as Chinese […]
Oil prices rose on Tuesday following commitments to tightening supply from Saudi Arabia and the Organization of Petroleum Exporting Countries (OPEC), although concerns over slowing demand in China and a potential U.S. recession kept gains muted. Crude markets reversed sharp losses in a volatile session on Monday after Saudi Arabia, the leader of the OPEC […]
Oil prices fell further on Thursday as increasing COVID-19 cases in China brewed more doubts over slowing crude demand, even as data showed U.S. inventories dropped far more than expected and as supply appeared to be tightening. China reported over 20,000 daily new cases this week, its highest rise in roughly seven months. While the […]
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 […]
Oil prices rose on Tuesday, paring losses from the previous session, as a weaker U.S. dollar offset widening COVID-19 curbs in China that have stoked fears of slowing fuel demand in the world’s second-largest oil consumer. Brent crude for January delivery rose 73 cents, or 0.8%, to $93.54 a barrel at 0406 GMT. The December […]
By Administrator_India Capital Sands Oil prices rose around 1% on Wednesday, extending overnight gains, after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. U.S. West Texas Intermediate (WTI) crude futures rose 75 cents, or 1.1%, to $71.24 a barrel at 0131 […]
By Administrator_India Capital Sands Oil prices dipped on Friday after posting strong overnight gains on a weaker dollar and a bigger-than-expected fall in U.S. crude stocks and were headed for small gains on the week ahead of a highly anticipated U.S. monthly jobs report. U.S. West Texas Intermediate (WTI) crude futures fell 24 cents, or […]
By Administrator_India Capital Sands Oil was down, but little changed, Monday morning in Asia. Supplies remained tight as key producers continue to disagree on whether to increase output from August onwards. Brent oil futures rose edged down 0.11% to $75.47 by 10:05 PM ET (2:05 AM GMT) and WTI futures inched down 0.03% to $74.54. A dispute within the Organization […]
By Administrator_India Capital Sands Oil prices fell for a second consecutive day on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but were nevertheless on track to finish the week flat – only slightly off multi-year highs. Brent crude futures were down 52 cents, or 0.7%, at […]
By Administrator_India Capital Sands The relationship between India and OPEC is more important now than ever. Any lingering ill-feelings between India and Saudi Arabia from their spat over the price of crude earlier this year should be quickly cast aside, to focus on each other’s growing importance as consumer and supplier. If OPEC needed a sobering reminder of India’s […]