July 17, 2024 New Delhi, India WTI Oil Prices Analysis West Texas Intermediate (WTI) crude oil prices edged closer to $80 per barrel, bolstered by a significant decline in US oil stockpiles. The American Petroleum Institute (API) reported a substantial drop of 4.4 million barrels for the previous week, contrasting sharply with expectations. This news…
July 16, 2024 New Delhi, India Oil Prices Oil prices have slipped due to worries about a slowing Chinese economy, which is expected to dampen demand. However, the potential for the U.S. Federal Reserve to cut interest rates as early as September has limited further declines. Key Highlights: Oil Price Movements: Brent Crude: Fell 21…
April 15, 2023 New Delhi, India Major Highlights Of The Day India’s Merchandise Trade Deficit Narrows in March India’s Commerce Ministry released trade data for March 2024, revealing a significant reduction in the country’s merchandise trade deficit. The deficit narrowed to $15.6 billion, down from $18.71 billion in February and $18.96 billion in March 2023….
February 9, 2023 New Delhi, India Oil Prices Surge Amidst Geopolitical Turmoil Middle East Tensions Drive Oil Prices Up Oil prices surged this week as tensions continued to escalate in the Middle East. Brent crude futures climbed to $81.71 a barrel, marking a 0.1% increase, while US West Texas Intermediate crude futures rose to $76.39…
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:…
