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 […]
By Administrator_India Capital Sands Oil prices fell for a second day on Wednesday on concerns that soaring COVID-19 cases in India will drive down fuel demand in the world’s third biggest oil importer. Brent crude futures for June fell 52 cents, or 0.8%, to $66.05 a barrel at 0157 GMT, after dropping 48 cents on Tuesday. […]
By Administrator_India Capital Sands Oil was up Monday morning in Asia, with a reported attack on Saudi Arabia oil facilities giving the black liquid a boost. Brent futures remained above the $70 mark that was reached for the first time since the start of the COVID-19 pandemic a year ago, and WTI futures were at their […]
By Administrator_India Capital Sands Oil was down Tuesday morning in Asia, with all eyes on Thursday’s Organization of the Petroleum Exporting Countries and allies, or OPEC+, meeting to discuss output. Brent oil futures were down 0.63% to $62.88 by 9:55 PM ET (1:55 AM GMT). WTI Futures fell 1.30% to $59.85, slipping just below the $60 mark. The […]
By Administrator_India Capital Sands Oil prices settled higher on Thursday, hitting 11-month peaks, as markets remained focused on Saudi Arabia’s unexpected pledge to deepen its oil cuts and firmer equities, shrugging off political turmoil in the United States. Brent crude settled up 8 cents to $54.38 a barrel after touching $54.90, a high not seen since before […]
By Administrator_India Capital Sands Oil extended gains on Thursday as a drawdown in U.S. stockpiles of crude and gasoline lifted demand hopes, while investors also cheered a potential Brexit trade deal. U.S. West Texas Intermediate (WTI) crude futures rose 18 cents, or 0.4%, to $48.30 a barrel by 0124 GMT, while Brent crude futures climbed […]
By Administrator_India Capital Sands Oil prices edged lower on Wednesday on concerns over an unexpected jump in U.S. oil inventories last week, but positive news on COVID-19 vaccines lifted investors hopes for a recovery in fuel demand, capping losses. Brent crude futures slipped 13 cents, or 0.3%, to $48.71 a barrel by 0151 GMT, having […]
By Administrator_India Capital Sands Oil prices edged higher on Tuesday on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine. Brent crude futures for January rose 16 cents, or 0.4%, to $43.98 a barrel by 0104 GMT and […]
By Administrator_ India Capital Sands Oil prices slid more than 1 percent on Wednesday, paring the previous day’s gains, as a jump in U.S. crude inventories and surging COVID-19 cases raised fears of an oversupply of oil and weak fuel demand. In early Asia, Brent crude (LCOc1) was down 61 cents, or 1.5%, at $40.59 […]
By Administrator_ India Capital Sands Oil prices were steady in early trade on Tuesday, sitting on losses of nearly 3% from the previous session after supplies began to resume in Norway and the U.S. Gulf of Mexico and Libya resumed production at its largest oilfield. The return of supply comes as resurgent COVID-19 infections in […]