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 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…
New Delhi, India September 26, 2023 USDINR : The Indian Rupee may face continued pressure as it weakened by 0.26% against the U.S. dollar in the previous session, quoting at 83.14 per dollar. Elevated U.S. Treasury yields and higher crude oil prices could contribute to further depreciation. The day’s trading range for USDINR included a…
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…
NEW DELHI: A consistent stream of Russian shipments undercut other suppliers, lowering the price of Iraqi oil to India in February. In February, the average price of a barrel of petroleum from Iraq was $76.19, down from $78.92 in January, according to information released by the Indian ministry of commerce and industry. Russian supplies had…
When the Organization of the Petroleum Exporting Countries (OPEC) reduced production for the current year, oil stocks generally traded in a mixed manner on Monday. OMCs like HPCL and BPCL suffered a severe blow and saw a 4-5% decline. RIL, a powerhouse, as well as Adani Group’s Adani Total Gas, were under pressure. Top gainers,…
NEW DELHI: Under their most recent agreement to supply Russian oil to India, the country’s leading refiner Indian Oil Corp. and Russia’s largest oil producer Rosneft agreed to utilise the Dubai oil price benchmark, which focuses on Asia.The two state-controlled firms’ move to leave the Brent standard, which is favoured by Europe, is a part…
When OPEC+ abruptly announced crude output cutbacks that threaten to tighten the market, delivering a further inflationary shock to the global economy and irking the White House, oil jumped at the start of the week.At 7:27 a.m., West Texas Intermediate had increased by as much as 8%, the largest intraday movement in almost a year….
