February 7, 2023 New Delhi, India Oil Prices Climb Amidst Production Forecasts and Economic Indicators WTI crude oil rises by 0.87% to $73.51, influenced by various factors including changes in US oil production forecasts and the performance of the US Dollar. Factors Driving the Rise Weaker US Dollar: The weakening of the US Dollar has…
January 12, 2023 New Delhi, India Geopolitical Tensions Propel WTI Crude Oil Prices In a dynamic turn of events, West Texas Intermediate (WTI) crude oil prices experienced a significant surge, primarily fueled by a mix of geopolitical tensions and positive trade data from China. 1. Military Strikes Escalate Concerns The escalation began as the United…
January 9, 2023 New Delhi, India Oil Prices Oil markets are finding stability following recent fluctuations, with Brent crude futures rising by 0.2% to $76.30 a barrel, and US West Texas Intermediate crude futures inching up by 0.1% to $70.83 a barrel. Middle East Tensions and OPEC Output: Monday witnessed a significant drop in oil…
December 28, 2023 New Delhi, India Red Sea Tensions Impact Oil Prices In the ever-changing landscape of the global oil market, recent developments in the Red Sea have become a key focal point for investors. The aftermath of drone attacks on oil tankers in the region has injected volatility into oil prices, with both Brent…
December 19, 2023 New Delhi, India Indian Oil Stocks Rally Following Government’s Tax Cut and Global Crude Surge In a recent turn of events, Indian oil stocks witnessed a significant upswing as the government announced a reduction in the windfall profit tax on crude oil production and diesel exports. Here’s a closer look at the…
December 4, 2023 New Delhi, India Crude Oil Prices Dips 2% In a recent turn of events, oil prices witnessed a 2% decline amid growing skepticism among investors regarding the effectiveness of OPEC+ supply cuts. The market is grappling with uncertainties related to global economic trends and geopolitical factors. OPEC+ Supply Cuts Face Investor Doubt:…
November 7, 2023 New Delhi, India Market Tensions Lead to Slight Price Dips Oil prices experienced a slight decline as concerns over weak oil demand in China took precedence in the market. The world’s second-largest oil consumer, China, plays a pivotal role in influencing global oil prices, and investors are closely eyeing key economic data…
October 20. 2023 New Delhi, India Oil Price Rises Oil prices experienced a significant 2% surge as a combination of factors stirred the market. The key drivers behind this rally were a bigger-than-expected draw in US crude oil storage and escalating tensions in the Middle East. US Crude Stocks Decline In a surprising turn of…
Global stocks remained steady on Tuesday as investors carefully assessed the impact of rising oil prices on inflation and monitored central banks’ stance on monetary policy amidst concerns about a potential recession. Date: July 04, 2023 Place: New Delhi, India While MSCI’s broadest index of world stocks showed minimal movement, Europe’s Stoxx 600 share index…
HONG KONG: When major producers, led by Saudi Arabia, unexpectedly announced a drop of more than one million barrels per day, oil prices surged by about 6% in Asian trade on Monday morning.Although Brent increased by 5.67% to $84.42, the West Texas Intermediate contract increased by 5.74% to $80.01 per barrel.The OPEC+ cartel cut its…
