As growing concerns about a supply glut subsided, OPEC+ opted to postpone output increases in the first quarter of next year, which caused oil prices to rise in early Asian trade on Monday. Brent crude futures closed 7 cents higher on Friday and then increased 47 cents, or 0.73%, to $65.24 a barrel. U.S. West…
Following three straight weeks of gains, the markets had a severe decline, losing 4.5%, mostly due to unfavorable global cues. Beginning with growing tensions in the Middle East, which increased the price of crude oil due to concerns about supply disruptions, the mood was pessimistic. Further lowering market optimism was the ongoing FII selling, which…
The rupee held below the $84 level on Friday, following a two-month low on Thursday, as the Reserve Bank of India (RBI) increased its intervention in the foreign exchange market to halt the depreciation. After closing nearly unchanged against the dollar on Thursday at 83.9750, the rupee fell to 83.9688 on Friday. Market players think…
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…
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,…
Tuesday’s early Asian trading saw an increase in oil prices as investors maintained their concern that the Israel-Hamas conflict could spread into a larger battle in the oil-exporting area, potentially disrupting supply. Brent crude prices had risen by 70 cents, or 0.8%, to $90.53 per barrel, while U.S. West Texas Intermediate crude futures had gained…
A stronger dollar and confusing messages from Saudi Arabia and Russia ahead of the next OPEC+ policy meeting contributed to the decline in oil prices in early trade on Friday. In the morning session, Brent crude prices were down 30 cents to $75.96 per barrel, while U.S. West Texas Intermediate prices were down 14 cents…
Early Asian trading on Monday saw a tiny increase in oil prices as concerns about a U.S. recession that had caused prices to fall for three weeks in a row for the first time since November started to fade. Brent crude prices were up 6 cents at $75.36 per barrel. West Texas Intermediate (WTI) oil…
The windfall duty on domestically produced crude oil has been eliminated by the Finance Ministry, while it has been decreased for diesel. The new levy went into effect on April 4. Despite the fact that the tax has been decreased due to a drop in prices over the past month, this week’s output cuts by…
Oil prices were little altered on Friday following a meeting between Saudi Arabia and Russia that helped to calm the markets, but crude benchmarks were still on track to drop for a second consecutive week after this week’s sell-off in the global financial markets was started by a banking crisis. After ending three days of…
