A weak dollar index, falling crude oil prices, and robust foreign portfolio investment (FPI) inflows have not deterred the Indian rupee from trading close to its all-time low. As of September 10, it closed at 83.98, having moved in a narrow range between 83.92 and 83.99 thus far this month. The rupee has remained rangebound…
Oil prices fell slightly on Tuesday on factors including weaker Chinese demand. Brent crude was down 4 cents, or 0.06%, at $72.80 a barrel. At $68.60 a barrel, the U.S. West Texas Intermediate crude futures lost 10 paise, or 0.15%. The NHC noted that analysts “risk at least 125,000 barrels per day (bpd) of oil…
In a note released on Friday, OPEC+ revised its forecast for oil production, expecting output for the three months starting in December to rise from October. OPEC+ announced on Thursday that it has decided to postpone a planned increase in oil production until October and November, following crude prices that hit a nine-month low. If…
After ending at 83.91 on August 26 instead of 83.95 roughly a week earlier, the Indian rupee has somewhat appreciated over the previous trading days. Though importers’ dollar demand and foreign portfolio withdrawals from Indian equities (totaling USD 1.5 billion as of August 26) have restricted the rupee’s gains, the currency is seeing some support…
Media reports indicated no movement toward an Israel-Hamas ceasefire. Due to this, Crude price increased during the Asian trade on Monday. Hopes of lower US interest rates also helped oil markets as the Federal Reserve Chairman confirmed forecasts for a September cut. The Federal Reserve Chairman’s comments on Friday led crude prices to rise again….
Thursday saw oil prices rise for the third consecutive day as government data revealed a sharp decline in US crude stockpiles, which helped the commodity recover from multi-month lows reached this week. While U.S. West Texas Intermediate crude gained 29 cents, or 0.4%, to $75.52, Brent crude futures increased by 23 cents, or 0.3%, to…
Friday saw a little increase in oil prices, but they are still expected to decrease for a third straight week due to sluggish demand in China, the world’s largest petroleum importer, and hopes for a ceasefire agreement in the Gaza conflict and other Middle Eastern hostilities. September’s Brent crude futures increased by 12 cents, or…
In Asian trade, oil prices increased, continuing a recent upward trend as speculation about tighter supply and stronger demand in the largest fuel consumer in the world increased in response to a larger-than-expected drop in U.S. stockpiles. The previous week has seen sharp losses in the crude markets as worries about slowing global demand were…
As indications of reduced US supply helped ease concerns about the global oil market’s deteriorating demand, oil prices steadied throughout Wednesday’s Asian trading session. After dismal economic statistics from China, the world’s largest oil importer, increased worries about slowing demand, crude markets were nursing a steep fall over the previous week. October contract prices for…
Crude oil prices were expected to close the week higher than they started, extending their most recent uptrend to a full month, despite a decrease yesterday due to negative economic news from the US. According to Reuters, oil has increased by 9% in the last four weeks for Brent crude and by $10 a barrel…
