In an otherwise sluggish market, shares of Mangalore Refinery & Petrochemicals (MRPL) and Chennai Petroleum Corporation (CPCL) soared up to 19% and touched 52-week highs on Tuesday’s session on the BSE amid strong volumes. The fact that the Singapore gross refining margin (GRM) has risen to a new high of $25.2 per barrel is good […]
In Thursday’s intra-day trade on the BSE, shares of Poona Dal & Oil Industries set a new high of Rs 103.15 and remained trapped at the 10% upper circuit on the back of hefty volumes. The edible oil company’s stock has soared 86 percent in the last four trading days, from a low of Rs […]
Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at […]
Asian shares faltered and oil prices slid on Monday as a coronavirus lockdown in Shanghai hit economic activity, while the yen extended its stomach-churning descent as the Bank of Japan stood in the way of higher yields. China’s financial hub of 26 million people told all firms to suspend manufacturing or have people work remotely in a two-stage lockdown over […]
Global oil prices fell on Wednesday by the most in nearly two years after OPEC member the United Arab Emirates said it supported pumping more oil into a market roiled by supply disruptions due to sanctions on Russia after it invaded Ukraine. Brent crude futures settled down $16.84, or 13.2%, at $111.14 a barrel, their biggest […]
India has cut its tax on crude palm oil (CPO) imports to 5% from 7.5%, the government said in a notification, as the world’s biggest edible oil importer tries to rein in local prices of the commodity and help domestic refiners and consumers. The reduction in the tax, known as the Agriculture Infrastructure and Development […]
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 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 hit and then recoiled from highs last seen in October 2018 on Monday as investors eyed the outcome of this week’s OPEC+ as the United States and Iran wrangle over the revival of a nuclear deal, delaying a surge in Iranian oil exports. Brent crude for August had slipped 16 […]
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 […]