The September WTI (West Texas Intermediate) and Brent oil futures were down 0.31 and 0.27 percent, respectively, to $84.62 and $80.59. Tuesday’s first hour of trading saw July crude oil futures on the Multi Commodity Exchange (MCX) trading at ₹6,828 against the previous close of ₹6,847, down 0.28 percent, and August futures at ₹6,752 against…
The United States’ crude oil shipments to Europe fell in June, reaching a two-year low. According to the analysis, West Texas Intermediate is becoming more expensive for consumers as the difference between it and Brent oil narrows. WTI is now trading at about $83 per barrel, while the price of Brent crude is almost $87…
LSEG data indicates that despite forecasts of a steady rise, crude oil imports into Asia experienced a modest dip in the year’s first half. Over the first half of the year, Asian oil consumers imported 27.16 million barrels per day, according to the figures. Compared to a year ago, this was 130,000 bpd less. Notably,…
The price of crude oil appeared ready to continue its two-week upward trend this week amidst growing strains between Israel and its neighbors, particularly Lebanon. Oil traders became bullish earlier today due to fears of a spreading Middle East conflict, as Brent crude edged closer to $87 per barrel and West Texas Intermediate crept beyond…
On Thursday morning, the official data indicated a rise in US stocks, which caused the price of crude oil futures to decline. Thursday saw a 0.22 percent decline in Brent oil futures to $84.28, and a 0.27 percent decline in August WTI (West Texas Intermediate) crude oil futures to $80.68. At the start of trade,…
Crude oil prices dropped by -0.75% yesterday, finishing at 6771, under pressure from a stronger dollar and investor expectations for the release of new U.S. inflation data soon. Notwithstanding this downturn, worries about disruptions to the oil supply persisted due to geopolitical tensions in the Middle East, specifically Israeli incursions into Gaza and worries about…
Crude oil prices fell by -0.78% to end at 6746, under pressure from worries about how rising Middle East tension and a strong US dollar might affect the world’s oil consumption. The concerns about disruptions to the oil supply have been made worse by the geopolitical tensions in the Middle East, including the Israeli troops’…
The center reduced the windfall tax on domestically produced crude oil on Friday from Rs 5,200 per tonne to Rs 3,250 per tonne. Aviation turbine fuel (ATF) and petrol diesel will remain subject to no export duties. The Central Board of Indirect Taxes and Customs (CBIC) stated in a late-night notice on Friday that the…
Yesterday, the International Energy Agency’s (IEA) most recent oil market report, which highlighted disruptions in the Red Sea region and presented a more positive picture for demand growth, caused crude oil to see a notable jump of 2.48%, closing at 6,742. To boost market optimism, the IEA revised its demand growth predictions for 2024 and…
A government decree issued on Thursday states that, as of March 1, the windfall tax on petroleum crude has increased from Rs 3,300 to Rs 4,600 ($55.51) per metric tonne. With effect from March 1, the decree said that the Centre also reduced the windfall tax on diesel from 1.50 per litre to zero. Petrol…
