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Thursday, May 19, 2022

crude oil price


IEA releases extra oil to calm prices: India backs decision

April 08, 2022 1:34 am

India had in November announced that it would release 5 million barrels from the strategic reserve as part of a coordinated effort with other crude oil importing countries to stabilise the price of crude oil.

Oil has wildest week on record with markets rocked by war

March 04, 2022 6:16 pm

On Friday, prices climbed after Ukrainian officials said Russian forces attacked a nuclear plant -- Europe’s biggest.

Wall Street roars back to rally mode, even as oil rises anew

March 03, 2022 9:53 am

Wall Street took another sharp swing Wednesday, this time back to rally mode, as stocks and Treasury yields rose even as oil prices continued to climb.

SBI report: Costly oil may hit govt with up to Rs 1 lakh crore in revenue loss

February 26, 2022 12:46 am

The average price of Indian basket of crude oil has risen to $84.67 per barrel in January 2022 from $63.4 in April 2021, a 33.5 per cent increase. According to SBI calculations, every $10 per barrel increase in Brent crude price will lead to increase in inflation by 20- 25 bps.

OPEC's output pact proposal: How will decision affect India?

July 06, 2021 8:04 am

India is currently facing record-high prices of petrol and diesel, with pump prices of the former exceeding Rs 100 per litre in 13 states and Union Territories.

OPEC+ talks abandoned without a deal, sending oil prices higher

July 05, 2021 9:33 pm

Crude prices jumped 0.8% to $76.77 a barrel as of 4:25 p.m. in London.

Dharmendra Pradhan to oil exporting nations: Ease output cuts

February 18, 2021 12:22 am

A rise of over 50 per cent in the price of Brent crude, from around $40 per barrel in October to $64.4 on Wednesday, has led to the prices of petrol and diesel hitting record levels across India.

Oil plunges as new coronavirus strain renews demand recovery fears

December 22, 2020 2:55 pm

Brent crude futures were down 88 cents, or 1.7% to $50.03 a barrel at 0730 GMT, while US West Texas Intermediate (WTI) crude futures fell 92 cents, or 1.9%, to $47.05 a barrel.

Finance Ministry turns down proposal to cut cess on crude output

October 19, 2020 9:59 am

Experts noted that given the recovery in the price of Brent crude, oil-producing companies were not expecting any relief on oil cess from the government.

Oil prices drop as rise in coronavirus cases stokes fuel demand fears

June 16, 2020 11:54 am

Brent crude fell 20 cents, or 0.5%, at $39.52 a barrel by 0424 GMT, having gained 2.6% on Monday. US oil dropped 21 cents, or nearly 0.6%, to $36.91 a barrel, after closing 2.4% higher in the previous session.