On Friday, oil prices fluctuated as investors considered the dwindling demand prediction by a powerful organization and the unimpressive U.S. retail sales report that raised hopes for interest rate reduction in the country. At 01:31 , Brent crude futures fell 11 cents, or 0.1%, to $82.75 a barrel. At $78.04 a barrel, U.S. West Texas…
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…
The current oil year (November 2022–October 2023), according to trade group Solvent Extractors Association of India (SEA), is expected to see a record 17 million tonne (MT) of edible oil imports into India. Exports totaled 14 MT last year. As of 2016–17, when the nation imported 15.1 MT of oil, the volume of imported cooking…
Due to the east Asian Lunar New Year vacation, which thinned down early trading on Monday, oil prices dipped lower. However, they managed to hold onto the majority of last week’s gains due to the likelihood that China, the world’s top oil consumer, will experience an economic revival this year. The price of Brent crude…
Oil corporations are making ₹10 per liter on petrol sales, but retail prices haven’t dropped to make up for earlier losses and a ₹6.50 per liter loss on diesel, a report said. The prices of petrol and diesel have not been updated by state-owned IOC, BPCL, and HPCL in pace with inflation for the past 15 months….
Oil prices dropped on Monday as a result of worries that expanding COVID-19 restrictions in China will reduce demand, countering indications that production at the largest U.S. shale field is slowing down. After falling 1.2% on Friday, Brent crude futures were down 36 cents, or 0.4%, to $95.41 a barrel. After closing Friday’s trading session…
Oil prices came off three-month lows on Friday but were on track for a weekly decline of around 6% as new lockdowns in countries with low vaccination rates facing surging cases of the Delta variant dimmed the outlook for fuel demand. Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to…
