Oil edges up but set for weekly fall on Iran nuclear talks
By Administrator_ India Capital Sands Oil prices nudged up on Friday, recovering from three days of losses as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress on talks to revive a 2015 nuclear deal. Brent crude futures for July rose 8 cents, or 0.1%, to $65.19 […]
Oil Holds Near $59 as Fed’s Powell Points to Economic Growth
By Administrator_ India Capital Sands Oil was steady near $59 a barrel as trading opened in Asia after Federal Reserve Chair Jerome Powell said the U.S. economy was poised for stronger growth while cautioning that Covid-19 still remains a threat. Futures in New York were little changed after dropping 3.5% last week. The economy is […]
Oil Up, With U.S. Deep Freeze Impacting Texan Production
By Administrator_ India Capital Sands Oil was up Tuesday morning in Asia, after an unexpected cold snap impacted production in Texas, the biggest crude producing state in the biggest oil producer globally. Concerns also remain about supply in Saudi Arabia, the world’s biggest oil exporter, after Yemen’s Iran-aligned Houthi group said it struck airports in the country […]
Oil Up, Brent Futures Close to $60 Mark Over U.S. Stimulus Hopes
By Administrator_ India Capital Sands Oil was up Monday morning in Asia, with supply cuts by key producers and hopes for further U.S. stimulus measures giving the black liquid a boost. Brent oil futures gained 0.54% to $59.88 by 10:51 PM ET (3:51 AM GMT), and is close to topping the $60 mark for the first time since […]
Oil Steadies in Asia After Slumping on Weak U.S. Economic Data
By Administrator_ India Capital Sands Oil steadied near $52 a barrel in Asia after slumping the most in almost four weeks on a combination of a stronger dollar, weak U.S. economic data and a still-surging coronavirus. Futures in New York edged lower after tumbling 2.3% on Friday. U.S. consumer sentiment cooled more than forecast in […]
Oil Jumps After Industry Group Reports U.S. Crude Supply Decline
By Administration_ India Capital Sands Oil extended gains after an industry group reported a larger-than-expected decrease in U.S. crude stockpiles. Futures in New York rose in after-market trading after closing 0.8% higher on Tuesday amid thin liquidity. The American Petroleum Institute reported domestic crude inventories fell 4.79 million barrels last week. That would be the largest stockpile […]
Oil gains on hopes US pandemic stimulus payments to spur fuel demand
By Administration_ India Capital Sands Oil rose on Tuesday, for the third time in four sessions, on expectations for rising fuel demand as the United States may expand their pandemic aid payments and a final Brexit deal is set to stabilize trade between Europe and the UK. Brent crude futures climbed 36 cents, or 0.7%, […]
India suspends 39 import licenses for refined palm oil
By Ritu, Capital Sands India has suspended 39 licences to import 452,303 tonnes of refined palm oil after a surge in duty-free purchases from neighbors such as Nepal and Bangladesh which are not key producers, government and trade sources. The suspension could reduce India’s palm oil imports in the next few months and pressure Malaysian […]