Crude falls, but no respite for fuel prices in India; petrol price in Mumbai cross Rs 107 a litre mark

On Friday, 16 July, crude oil prices headed for their biggest weekly drop since May this year as expectations of more supplies spooked investors. In India, however, the price of petrol and diesel touched record highs. Mumbai’s petrol cost is the highest across metro cities, standing at a staggering Rs 107.54 per litre. Diesel in the […]

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India’s fuel demand at 11-month high in December 2020; retail pices in January 2021 touching sky high

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India’s fuel demand rose for the fourth straight month in December 2020, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning […]

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Oil prices touch multi-month highs as OPEC+ expected to hold output

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Oil prices touched multi-month highs on Monday on expectations that OPEC and allied producers may cap output at current levels in February as the coronavirus pandemic keeps worries about first-half demand elevated. Prices rose in line with broader financial markets with Brent crude futures reaching $53.17 a barrel, the highest since March 2020. U.S. West Texas Intermediate crude […]

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COMMENT – Crystal gazing at 2021 commodities cycle – only bet is on the pace of coronavirus recovery

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The spread of the Covid-19 pandemic led to lockdowns and economic devastation across the world. The story for commodities was far more nuanced, reflecting that the pandemic was not your run-of-the-mill global recession. The story for 2021 is likely to be dominated by the recovery from the coronavirus, especially since it now seems likely that […]

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Only the lowest cost oil reserves likely to be developed over 3-5 years: Moody’s

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Only the lowest cost crude oil reserves are likely to be developed over the next three to five years, according to Moody’s Investors Service. It said that Brent crude prices are likely to remain in the range of $45-$65/barrel, while WTI (West Texas Intermediate) crude are likely to get $40-$60/barrel in the medium term. Moody’s said that […]

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