Oil drops $3 on positive signals from Russia-Ukraine peace talks
Oil prices dropped on Tuesday, extending losses from the previous day on signs of progress in talks between Russia and Ukraine to end their weeks-long conflict, with prices further pressured by China’s new lockdowns to curb the spread of the coronavirus. Brent crude fell $2.88, or 2.6%, to $109.61 a barrel by 11:07 a.m. ET […]
Oil spikes to seven-year high as markets avoid Russian supply
Oil prices surged to seven-year highs on Wednesday as supply disruption fears mounted following hefty sanctions on Russian banks amid the intensifying Ukraine conflict, while traders scrambled to seek alternative oil sources in an already tight market. Brent crude futures gained $5.30, or 5%, to $110.23 a barrel at 0419 GMT, a level last seen […]
Oil prices steady as investors eye US-Iran nuclear talks
Oil prices were mixed on Thursday, after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors await the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets. Brent crude futures slid 10 cents, or 0.1%, to $91.45 a barrel at 0130 GMT, while U.S. […]
Oil Ministry mulls reinstating subsidized LPG prices
By Administrator_ India Capital Sands The Ministry of Petroleum and Natural Gas is evaluating a threshold at which the subsidy on Liquefied Petroleum Gas (LPG or cooking gas) will be reinstated. According to a senior government official in the know, a survey is currently being conducted to determine the price at which maximum consumers will […]
Oil Up, Hits One-Week High as Recovery from Ida Damage Drags On
By Administrator_ India Capital Sands Oil was up Monday morning in Asia, hitting a one-week high in a second consecutive session of gains. Continuous concerns about U.S. supplies, with the recovery from Hurricane Ida’s damage dragging into a second week, gave the black liquid a boost. Brent oil futures was up 0.33% to $73.16 by 12:08 […]
Oil mixed as Hurricane Ida pounds US crude patch, Louisiana
By Administrator_ India Capital Sands Oil prices pared early gains on Monday, off more than three-week highs reached earlier in the session as a powerful hurricane plowing through the Gulf of Mexico forced shutdowns and evacuations of hundreds of offshore oil platforms. Brent was up 16 cents or 0.2% at $72.86 a barrel by 0153 […]
Oil prices rebound from 7-day losing streak as investors snap up bargains
By Administrator_ India Capital Sands Oil prices reversed out of a seven-day losing stretch on Monday as investors punted on crude at bargain levels, though lingering fears over how a surge in global covid-19 cases might affect fuel demand combined with a firmer U.S. dollar to limit gains. Brent crude futures climbed 60 cents, or […]
Oil falls as Delta surge clouds fuel demand outlook
By Administrator_India Capital Sands Oil prices fell more than 1% on Monday, dropping for a third session, as government-imposed restrictions on mobility to counter the spread of the Delta variant raised worries about a recovery in fuel demand. Brent crude was down 80 cents, or 1.1%, at $69.79 a barrel by 0046 GMT, after edging […]
Rising oil prices upset long-haul plans of airlines, delay recovery
By Administrator_ India Capital Sands Few sectors are as impacted as aviation by the pandemic. With travel coming to a standstill and recovery not on the horizon even with vaccination, airlines have been finding it tough to stay aloft. A year and a half since the first case of COVID-19 was discovered, the world is […]
Oil rises as threat recedes of Iran supply resuming soon
By Administrator_ India Capital Sands Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Brent crude was up by 17 cents, or 0.2%, at […]