The largest producer of gas and oil in India, ONGC, has entered into long-term agreements with refiners to sell the crude oil it extracts from offshore resources in Mumbai at a premium to the global benchmark Brent, according to sources. The Oil and Natural Gas Corporation (ONGC) has agreements with Bharat Petroleum Corporation Ltd (BPCL)…
Following a downward trend in domestic equities, the rupee lost 2 paise and hit an all-time low of 83.36 against the US dollar in the morning session on Friday. The opening rate of the rupee versus the dollar at the interbank foreign exchange was 83.33. In the first trades, it fell 2 paise from its…
In early trading on Wednesday, the rupee was moving in a limited range vs the US dollar, with local equities showing little movement. Because of the ongoing withdrawals of foreign funds, forex traders reported that investor mood was negatively impacted by the rupee’s narrow trading range. The local currency’s value versus the dollar at the…
With anticipation that OPEC+ will intensify production cutbacks to support prices, which have dropped for the past four weeks due to lessening concerns about Middle East supply disruptions brought on by the Israel-Hamas war, oil futures saw a little increase on Monday. Brent crude futures had gained 66 cents, or 0.8%, to $81.27 per barrel,…
Due to losses in domestic equities and a strong dollar in international markets, the rupee fell 4 paise to 83.27 (provisional) against the US dollar on Friday. Forex dealers stated that the rupee was able to limit losses due to recent FII inflows and crude oil prices that were trading close to four-month lows. Following…
In early trade on Wednesday, the US dollar dropped from its high levels after US inflation data came in lower than anticipated, giving the rupee a 32-paise boost to 83.01 against it. The US dollar declined after US inflation slipped to its lowest level since September 2021, according to forex traders, and the rupee began…
The U.S. crackdown on Russian oil shipments has caused supply disruptions, which has caused oil prices to slightly rise on Tuesday. This was attributed to an OPEC report that stated market fundamentals remained solid. Brent crude futures had increased by 33 cents, or 0.4%, to $82.85 a barrel. At $78.59 a barrel, U.S. WTI crude…
Amidst persistent outflows of foreign funds and a downward trend in domestic stocks, the rupee remained range-bound and ended the day 1 paisa higher at 83.29 vs the US dollar on Thursday. The rupee began trading at 83.25 versus the US dollar at the interbank foreign exchange and ended at 83.29, up 1 paisa from…
With Middle East tensions easing supply concerns and expectations that the U.S. Federal Reserve would continue raising interest rates in the largest oil-consuming country in the world buoyed by jobs statistics, oil prices dipped on Friday, on track for a weeklong loss. Futures for Brent crude dropped $1.21, or 1.4%, to $85.64 per barrel, while…
Following the US dollar’s strength versus key international rivals and persistent outflows of foreign money, the rupee fell 9 paise to settle at an all-time low of 83.33 (provisional) against the US dollar on Wednesday. Furthermore, rising crude oil prices and a downward trend in US stocks combined with geopolitical unpredictability in the Middle East…
