US crude inventories rose by 1.3 million barrels in the week ended November 7, according to market sources on Wednesday, citing data from the American Petroleum Institute. Gasoline and distillate inventories fell, citing API data. Prices fell more than $2 a barrel on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) said global…
Oil prices rose slightly in Asian markets on Friday. This was due to a slight depreciation of the US dollar. When the dollar is weak, foreign buyers can immediately buy goods (such as oil) that are sold in dollars, which leads to a slight increase in prices. By 2025, the alliance of oil-producing countries known…
Crude oil prices fell by -2.63% to 5,634 as traders positioned cautiously ahead of the OPEC+ meeting, which may decide on further production hikes from October. The group, which accounts for about half of the world’s oil supply, is considering unwinding another layer of output cuts, amounting to 1.65 million barrels per day, more than…
Crude oil prices fell 1.3% to ₹5,476, driven by the International Energy Agency’s forecast of a growing oil surplus this year and next. The IEA predicts inventories to rise at a record pace, reaching a 46-month high by June 2026. Despite expectations of peak US production, gains are supported by improved well efficiency. Geopolitical developments,…
Crude oil prices fell by 0.94% to settle at ₹5,933, driven by concerns over global oil demand, particularly from China. The U.S. Federal Reserve’s indication of a slower pace of interest rate cuts in 2025 added to the bearish sentiment, as higher borrowing costs could dampen economic growth and reduce fuel demand. A stronger dollar…
The OPEC+ coalition, consisting of 23 nations, is set to hold its next meeting on December 5, likely in a virtual format. This shift is the third time the alliance has held meetings online since the Covid-19 pandemic. Crude prices currently hover around $75 per barrel, insufficient for many OPEC members to meet budgetary needs….
Oil prices remained stable on Friday due to downward revisions in U.S. employment data and renewed ceasefire talks in Gaza, which alleviated supply disruption concerns. Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures rose by 0.1% each, while Brent futures fell by 3% this week to $77.32 a barrel, and WTI lost…
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…
The world’s top oil importer, China, is facing economic challenges, and this has resulted in a 3.42% decline in crude oil prices, which closed at 6612. Strong news on the American labor market and manufacturing drove up crude prices, and as a result, the US dollar index increased. A further depressant of demand sentiment was…
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…
