As worries about demand in the greatest economy in the world arose due to data showing that U.S. crude stocks increased significantly more than anticipated, oil prices dropped in early trade on Thursday. At 01:35 , U.S. West Texas Intermediate crude prices dropped 36 cents, or 0.5%, to $76.28 a barrel, while Brent crude futures…
Early on Wednesday in Asian trading, oil prices dropped as investors reduced their expectations of a U.S. Federal Reserve interest rate cut and a U.S. industry organization reported that crude stocks increased more than anticipated last week. When the market started at 0000 Brent futures dropped 29 cents, or 0.4%, to $82.48. West Texas Intermediate…
Oil prices fell in early Asian trade on Monday after Israel announced it had “ended” a series of attacks in southern Gaza. At 0135, US West Texas Intermediate crude futures were down 46 cents, or 0.6%, at $76.38 a barrel, while Brent crude was down 43 cents, or It was down 0.5% to $81.76. Prices…
After dropping the previous session, oil prices were mixed on Tuesday as investors balanced general economic worries against weather-related supply and demand problems in the United States and ongoing tensions in the Middle East that resulted in additional tanker diversions. At $78.20 a barrel, Brent crude futures increased by 5 cents, or roughly 0.06%. Earlier…
With the United States and Britain striking Houthi military targets in Yemen in retribution for attacks by the Iran-backed group on ships in the Red Sea beginning late last year, oil prices increased by more than 2% on Friday. U.S. West Texas Intermediate oil futures were up $1.53, or 2.1%, at $73.55 a barrel, while…
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…
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…
As the majority of the gas for these sectors comes from state-run ONGC and Oil India nomination fields, where prices are capped at $6.5 per million British thermal units (mmBtu), analysts say the recent increase in natural gas prices is unlikely to exert any significant upward pressure on domestic compressed natural gas (CNG) or piped…
Following a brief decline the previous day, oil prices increased on Thursday as traders’ attention returned to the prospect of a limited supply of crude for the remainder of 2023. International benchmark Brent futures increased 17 cents to $92.05 a barrel, while West Texas Intermediate crude (WTI) increased 19 cents to $88.71. The International Energy…
In contrast to the increase in the tax on diesel and ATF exports, the government has reduced the windfall profit tax on domestically produced crude oil. The special additional excise duty, or SAED, paid on domestically produced crude oil was decreased from Rs 7,100 per tonne to Rs 6,700 per tonne. According to the announcement,…
