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Crude oil futures rise on spot demand, global cues

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Diesel prices rise to 19-month high

In Delhi, the retail selling price of diesel was Rs 72.81 per litre on Friday, highest since November 8, 2018. Petrol was retailed for Rs 74.57 per litre, highest since January 23 this year. In Mumbai, petrol and diesel were retailed for Rs 81.53 and Rs 71.48 per litre, respectively.

Crude oil prices rise on signs of output cuts and demand hopes

Benchmark Brent crude was up 42 cents or 1.2 per cent at $35.23 a barrel by 1411 GMT.

India's oil import bill may halve if current crude price holds

If the price remains around $30 for most parts of 2020, import bill could reach its all time low in many many years.

It’s time to wave goodbye to bonanza oil trade

The financial incentive to store, known in trader jargon as contango, has all but vanished.

Commodity outlook: Crude futures gain, here's how others might trade

Crude oil was up 0.57 per cent while its peer natural gas advanced 0.14 per cent.

Oil falls as crude in US storage nears all-time high

Oil futures marked their third straight week of losses last week - and have fallen for eight of the past nine - with Brent ending down 24 per cent and WTI off around 7 per cent.

Oil slides below $41 as US inventory rise revives glut worries

US West Texas Intermediate (WTI) dropped 96 cents, or 2.5 per cent, to $37.98.

What the negative price of oil is telling us

We’re in a deflationary moment that surpasses anything seen in most people’s lifetimes.

How will the sudden plunge in US oil prices impact India: WTI crash explained

WTI Futures of oil prices plunged into negative territory Monday as the global coronavirus pandemic keeps people at home and destroys demand for transportation fuel. The price of U.S. benchmark crude to be delivered in May fell below zero - a historic low - as storage capacity reaches its limit. ET NOW explains how sudden plunge of US oil price will impact India.How will the sudden plunge in US oil prices impact India: WTI crash explained

Goldman Sachs says it remains bullish on oil prices in 2021

Oil prices fell on Monday, having posted their first weekly gain in four on Friday as the Organization of the Petroleum Exporting Countries, Russia and other producers, known as OPEC+, began their record output cuts.

Petrol price hiked by 62 paise/litre, diesel by 64 paise; rates up by Rs 4.52 and Rs 4.64 in 8 days

Petrol price in Delhi was hiked to Rs 75.78 per litre from Rs 75.16 while diesel rates were increased to Rs 74.03 a litre from Rs 73.39, according to a price notification of state oil marketing companies. Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

Palm oil slips on weaker soyoil, but crude oil gains cap losses

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

Centre notifies land acquisition process for laying oil pipeline

The Centre on Wednesday has notified the process for land acquisition for the 486-km long oil pipeline from Mundra to the upcoming refinery at Pachpadra in Barmer, Rajasthan whose ground-breaking ceremony was done by Prime Minister Narendra Modi in 2018.

Return of dynamic pricing may ease concerns over OMC valuations

BPCL’s refinery utilisation improved to 83% in May from 63% in April.

Commodity outlook: Crude oil drops; here is how others may fare

Here is how SMC Global expects commodities to fare today.

Oil gains as US inventories grow less than feared while coronavirus slashes demand

Brent crude was up by 12 cents, or 0.4%, to $29.84 a barrel 0044 GMT, after falling earlier in the Asian session and dropping 4% on Wednesday.

Oil surges 5% on US-China trade optimism, falling crude output

West Texas Intermediate crude futures for July delivery settled at $35.49 a barrel, jumping $1.78, or 5.3%.

Palm rises as crude jumps overnight, other commodities recover

Palm oil futures fell on Monday despite a big rise in June exports, as fears of a second wave of coronavirus infections pressured crude oil and global markets.

Rupee opens flat at 75.50 against the US dollar

Market participants will be keeping an eye on the fiscal deficit number.

Petrol price hiked by 48 paise/litre, diesel by 23 paise; ninth straight day of increase

Petrol price in Delhi was hiked to Rs 76.26 per litre from Rs 75.78, while diesel rates were increased to Rs 74.26 a litre from Rs 74.03, according to a price notification of state oil marketing companies.

ATF price hiked by 16.3 per cent; petrol up 47 paise, diesel by 93 paise per liter

This is the second straight increase in ATF price this month. Rates were hiked by a record 56.5 per cent (Rs 12,126.75 per kl) on June 1. Simultaneously, petrol and diesel prices were hiked for the 10th day in a row. In 10 hikes, petrol price has gone up by Rs 5.47 per litre and diesel by Rs 5.8 a litre.

Crude oil prices fall from $40 as doubts emerge over next step on Opec cuts

West Texas Intermediate (WTI) crude for July fell 3 cents, to $36.78.

Crude oil futures slide as pandemic darkens demand outlook

The oil markets are enduring a twin shock of demand destruction caused by the coronavirus pandemic and the Saudi-Russia price war that is flooding markets with extra supply.

Unlike China, India oil demand stays weak as economy falters

India’s fuel consumption collapsed by as much as 70% at one stage last month.

How can crude oil prices be negative?

The May WTI contract plunged as the contract expires on Tuesday when the owner of the contract is technically supposed to take delivery of the crude.

Palm oil slips on weaker crude after three days of gains

Palm oil climbed 1.87% to its highest since April 20 in the previous session.

Crude oil prices rise nearly 3% ahead of Opec+ meeting, easing lockdowns

US West Texas Intermediate crude (WTI) climbed 2.5 per cent, or 87 cents, to $36.31 a barrel.

Current prices shouldn't decide oil companies' economics: Dharmendra Pradhan

Petroleum minister says domestic producers need to wait till prices normalise and that PSUs have used low rates to fill reserves. Companies like ONGC should not be hit… However, overall low gas prices in market will impact the finances of all gas projects, including that of deepwater.

How to trade in crude oil futures

Domestic stock exchanges having commodity segments offer crude futures for trading.

Crude oil futures rise on spot demand

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Commodity outlook: Crude oil gains; here is how others may fare

Here is how SMC Global expects commodities to fare today.

Markets in chaos as oil prices plunge, coronavirus spreads

"What I'm seeing is a confluence of two black swan events: Coronavirus reaction and oil."

Saudis raise July Arab light crude official selling price to Asia by $6.10: Document

It has also raised the July OSP of its Arab light crude oil to the United States, setting it at a premium of $1.35 per barrel over ASCI (Argus Sour Crude Index), up $0.60 a barrel from June, according to the document.

Crude oil falls 4% as coronavirus pandemic prompts Trump travel ban

US crude was down $1.38, or 4.2 per cent, at $31.60 after also dropping 4 per cent in the previous session.

Oil prices fall on concerns supply to rise as producers wrangle on cuts

Gasoline demand, in terms of product supplied to retailers, rose for a third week by 296,000 bpd to 7.55 million bpd, the EIA data showed.

US oil hits sub-zero for 1st time in history as coronavirus keeps people home

Oil prices plunged into negative territory Monday as the global coronavirus pandemic keeps people at home and destroys demand for transportation fuel. The price of U.S. benchmark crude to be delivered in May fell below zero - a historic low - as storage capacity reaches its limit. That means sellers are paying buyers to take the commodity off their hands.US oil hits sub-zero for 1st time in history as coronavirus keeps people home

Crude oil prices climb 5% on US jobless drop, Opec+ meeting hopes

US West Texas Intermediate (WTI) crude futures rose $1.65, or 4.4 per cent, to $39.02 a barrel.

Crude oil prices slip despite Opec+ cuts as Gulf ends voluntary curbs

US West Texas Intermediate (WTI) crude fell 72 cents, or 1.8 per cent, to $38.83.

Oil falls as US-China tensions take toll

Both contracts have risen for the past four weeks, although prices are still down around 45% so far this year.

Crude oil futures rise on spot demand

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Commodity outlook: Crude oil gains; here's how others may fare

Here is how SMC Global expects commodities to fare today.

Palm oil set for better fortunes after pandemic wrecked bull run

Here’s what industry participants are watching.

ONGC looking at optimising capex after Covid-19 impacts project execution

Since April 20, 2020, onshore operations have been restarted and are near normal at present.

ONGC looking at optimising capex after COVID-19 impacts project execution

While about 9 per cent of the company's natural gas output was impacted by inability of customers to take supplies due to the coronavirus lockdown, lower oil and gas prices had impacted its revenues, the company said.

Since crude prices are down, excise duty hike may not lead to retail price hike: HPCL

‘There is an abnormal movement in product pricing in the international market.’​

Oil plunges 4% as oversupply fears pile up with US inventories growth

Oil prices are near their lowest since 2002 amid the global coronavirus crisis.

Crude oil prices bounce back as rising stockpiles seen pointing to lower output amid coronavirus

US West Texas Intermediate (WTI) was up 56 cents, or 2.8 per cent, at $20.43.

Saudi Arabia may raise July oil prices to Asia: Survey

Saudi Arabia is expected to increase the July OSP for Arab Light crude by $3.80 a barrel on average.

BP to write off up to $17.5 bn after reduced oil price forecast

BP revised its assumptions for benchmark Brent crude oil prices to an average of about $55 a barrel between 2021 and 2050. It will also assume the price of Henry Hub gas at $2.90 per million British thermal units.

Palm oil set to clock biggest monthly jump this year

Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.

Crude oil futures rise on positive overseas cues

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Commodity outlook: Crude oil falls; here is how others may fare

Here is how SMC Global expects commodities to fare today.

Crude oil prices mixed as lockdowns ease, US-China tensions threaten demand

US West Texas Intermediate (WTI) crude gained 2 cents to $19.80 a barrel.

The next chapter of the oil crisis: The industry shuts down

The economic impact of the coronavirus has ripped through the oil industry in dramatic phases.

Commodity outlook: Crude oil tanks; here's how others may fare

Here is how SMC Global expects commodities to fare today.

Crude oil outlook bleak despite record production cut by Opec++

Russia has reportedly agreed to slash output by 2 Mbpd, while Saudi Arabia will cut 4 mbpd.

Crude Oil price falls for fifth day as coronavirus spreads outside of China

West Texas Intermediate (WTI) futures fell by 80 cents, or 1.6 per cent, to $47.93 a barrel.

Crude oil prices drop on doubts over output cuts, swelling US fuel inventories

US West Texas Intermediate (WTI) crude futures dropped 74 cents, or 2 per cent, to $36.55.

Asian shares fall on fresh rout in crude prices

Gold, a safe-haven often bought during times of uncertainty, fell for a third consecutive trading session in signs of improving risk appetite.

Palm oil prices snap two-day rally on forecast of higher May stockpile, lower crude

Palm had climbed 2.5% in the previous two sessions to hit its highest closing level in two months.

Palm oil gains on higher crude and soyoil, better May exports

Palm may test a support at 2,140 ringgit, as it could have completed a bounce from 1,939 ringgit, Reuters technical analyst Wang Tao said.

Oil gains as hopes rise for production cut amid coronavirus outbreak

Brent crude was up by 73 cents, or 2.2 per cent, at $33.78 a barrel after falling more than 3 per cent on Monday.

Palm oil prices rise as rival oils, crude futures gain

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 8 ringgit, or 0.31 per cent, to 2,257 ringgit per tonne.

Goldman Sachs still sees crude prices falling after Opec+ deal

Major oil producers to cut output by nearly 10 million barrels per day.

Palm oil prices rise on signs of demand pick-up

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 27 ringgit, or 1.21%, to 2,262 ringgit ($517.03) per tonne at the midday break.

Buyer beware: Oil stockpiles are enormous

If you were hoping for a quick, V-shaped recovery in oil demand, look away now.

Oil rises again as output cuts kick in, inventories grow less than expected

Brent rose 12% on Thursday and rose about 11% in April, but the international benchmark has sagged around 60% this year on the coronavirus impact.

Sonia Gandhi writes to PM Modi, seeks rollback of fuel price hike

Petrol and diesel prices were hiked for the 10th day in a row on Tuesday. While the price of petrol has gone up cumulatively by Rs 5.47 per litre, price of diesel has increased by Rs 5.8 per litre.

India looks to store cheap oil in United States

India's plan could be similar to a move by Australia, which last month said it would build up an emergency oil stockpile initially by buying crude to store in the U.S. Strategic Petroleum Reserve to take advantage of low oil prices.

Palm oil extends gains on higher crude, soybean oil

The contract has declined 1.6% so far this week after two consecutive weekly drop.

Oil demand slumps 70% in India as third-biggest buyer shuts down

India’s March 25 decision to impose a three-week lockdown on its 1.3 billion people was the most far-reaching measure undertaken by any government to curb the spread of the coronavirus. It has helped plunge global energy markets deeper into turmoil just as hopes had started to surface that resurgent Chinese demand could offer some support.

Oil refineries improve run rate; Reliance cuts crude processing for 3rd straight month

Refineries, which had in April cut down operating rate to as low as 30-40 per cent as lockdown took most vehicles off road, processed 16.34 million tonnes of crude oil in May, 11 per cent more than April but 24 per cent less than a year earlier.

With rock-bottom prices, will the oil industry recover?

At the start of the year, US crude oil prices were around $60.

Palm oil prices fall on higher output forecast, set to snap 4 weekly gains

Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.

Crude oil futures rise on positive overseas cues

Analysts said raising of bets by participants kept crude prices higher in futures trade here.

Oil climbs over 2% after OPEC+ extends output cuts to end-July

Brent has nearly doubled since the start of April, propped up by an unprecedented production cut of 9.7 million barrels per day by the Organization of the Petroleum Exporting Countries (OPEC), Russia and allies.

Brent falls 10%, WTI below $30 as coronavirus spreads

Brent fell by 10% on Monday, and US crude to below $30, as emergency rate cuts by the US Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus. Brent falls 10%, WTI below $30 as coronavirus spreads

Crude oil prices to remain benign, unlikely to go up in near future: MK Surana

Lower crude prices are always good for refining and marketing companies, says CMD, HPCL.

Hindustan Petroleum Corporation Ltd. shares down 2.37% as Nifty drops

A total of 829,062 shares changed hands on the counter till 12:50PM (IST).

Oil prices slip on demand fears as US virus cases surge

"Counter-seasonal builds in gasoline inventories as stockpiles unexpectedly rose are not precisely a bullish delight," AxiCorp strategist Stephen Innes said in a note.

The downside of saving consumers from oil price hikes

Ad hoc increase in duties is a problem plaguing the sector. While customs, cess and excise duty hikes are levied by the central government, state governments impose value added tax (VAT). Hiking duty and not allowing OMCs to pass it on to consumers is a bad move.

MCX offers exit option in event of negative crude price

Says exit will be prospective and not affect settlement of past contracts.

Palm oil prices climb about 2% in line with soyoil, crude

Benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 43 ringgit, or 1.87 per cent, to 2,292 ringgit per tonne.

Crude oil prices fall on brimming storage, bleak recovery prospects

US West Texas Intermediate (WTI) crude was down $2.57, or 20 per cent, at $10.21 a barrel.

Crude oil prices slide on US-China tensions, doubts about Russian output cuts

Brent crude fell 91 cents, or 2.5 per cent, to $35.26 a barrel.

The coronavirus pandemic is accelerating coal’s demise

In much of the world coal power is currently more expensive than gas and renewables, which explains why its share in the electricity mix has fallen in Europe, India, China, and parts of the U.S. The power markets in these four regions are large and varied. That makes the uniformity of coal’s decline even more surprising.

World Bank slashes outlook for oil, metals as coronavirus crushes demand

Oil is expected to average $35 a barrel this year, down 43 per cent from the average in 2019.

Oil hits 18-year low as lockdowns diminish demand

US West Texas Intermediate (WTI) crude fell $1.14, or 5.3%, to $20.37.

Palm oil prices dip on lower exports, higher inventories

Malaysia's exports in April 1-10 fell between 6.6 per cent and 12 per cent from the month before, cargo surveyors said on Friday.

HSBC raises crude oil forecasts, sees deficit in July

OPEC+ agreed on Saturday to extend cuts of 9.7 million bpd until the end of July.

India’s crude oil import bill fell 9% to $102 billion in 2019-20

Natural gas import bill shrank nearly 8% to $9.5 billion as global prices fell, although in volume terms, imports rose 17% to 33.7 billion cubic meters in 2019-20, according to the official data.

Oil price war ends with historic Opec+ deal to cut production

Opec+ said it agreed to reduce output by 9.7 million barrels per day (bpd) for May-June.

Oil prices drop on concerns about patchy demand recovery, record US stocks

Brent crude futures fell 2.2%, or 92 cents, to $40.81 a barrel, also giving up gains from Wednesday.

BP to cut 10,000 jobs worldwide amid coronavirus pandemic

Bernard Looney told employees in a global online town hall call that the London-based company will cut 10,000 jobs from the current 70,100, most of them by year end, according to sources listening to the call.

Buy Oil India, target price Rs 110: Motilal Oswal

The brokerage has used an SOTP-based fair value of 8 times FY22E adjusted EPS of Rs 13.7 and added investments to arrive at a price target of Rs 110.

Oil dips on uncertainty over producers' commitment to output cuts

"The oil group is struggling to find consensus around extending deep output cuts," ANZ Research said in a note.

Opec pushing Russia to support big oil cut amid coronavirus

Russia has so far signalled it might be willing to agree to extending existing cuts, which expire in March, but might find it difficult to sign up to deeper cuts.

Oil prices tumble as world's storage tanks fill up amid demand shock

U.S. West Texas Intermediate (WTI) crude futures skidded by as much as 16% and were off 14.7%, or $1.88 cents, at $10.90 a barrel as of 0158 GMT.

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