Oil prices rose more than $2 a barrel on Monday, extending gains as OPEC+ producers agreed to cut oil output targets by 100,000 bpd in October. Brent crude futures futures for November delivery rose $3.57 to $96.59 a barrel, a 3.8% gain. U.S. West Texas Intermediate crude was up $2.13, or 2.5%, at $89 after a […]
State-owned Oil and Natural Gas Corporation (ONGC) is seeking a minimum $ 17 per mmBtU price for the gas it plans to produce from coal seams in its Bokaro CBM (coal based methane) block in Jharkhand. ONGC invited bids for the sale of 0.20 million standard cubic metres (mmBtU) per day of gas it plans […]
After staying above $ 100 per barrel for two weeks, international oil prices fell to $ 99.84 a barrel on Tuesday, easing margin pressure on fuel retailers who have been holding petrol and diesel prices despite a spike in the cost of raw material. Brent crude oil prices, which soared past $ 100 per barrel on February […]
The U.S. Energy Information Administration (EIA) said in its latest short-term outlook report that it expects the Brent price ot average $117/b in March, $116/b in 2Q22, and $102/b in the second half of 2022 (2H22) and fall to $89/b in 2023, but the price forecast was “highly uncertain” due to the situation in Ukraine […]
Oil prices rose on Thursday following a sharp drop in the previous session as the market contemplated whether major producers would boost supply to help plug the gap in output from Russia due to sanctions for its invasion of Ukraine. Brent crude futures were up $3.10, or 2.8%, at $114.24 a barrel while U.S. West Texas […]
Petrol price in Delhi rose to its highest-ever level of Rs 102.94 a litre and to Rs 108.96 in Mumbai, a government notification said. Diesel rates too touched a record high of Rs 91.42 in Delhi and Rs 99.17 per litre in Mumbai. Prices differ from state to state depending on the incidence of local […]
Oil prices have been rising, with Brent nearing $80 and WTI Crude exceeding $75 per barrel as global oil and energy markets continue to tighten. Oil demand is recovering from the Delta variant faster than expected, but supply is not catching up fast enough, analysts say. Goldman Sachs, for example, said that the deficit in […]
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 […]
Gold touched a 5 month high of about $1900 mark per troy ounce at COMEX from the March 2021 lows of $1700’s, consolidated in the recent trading session on account of improving dollar and treasury yields. The yellow metal has also responded to the opening up of economies backed by robust vaccination drives, diminishing the […]
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 […]
