Follow Us:
Friday, January 22, 2021

crude oil


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.

Oil extends rally amid coronavirus vaccine rollouts

December 11, 2020 2:45 pm

Brent was up 30 cents or 0.6% at $50.55 a barrel by 0752 GMT, after gaining nearly 3% on Thursday. US oil was up 31 cents, or 0.7%, at $47.09 a barrel, having also risen almost 3% in the previous session.

Crude oil prices extend gains on COVID vaccine hopes, OPEC+

November 23, 2020 11:59 am

Brent crude futures rose 21 cents, or 0.5%, to $45.17 a barrel by 0436 GMT while US West Texas Intermediate crude gained 10 cents, or 0.2%, to $42.52 a barrel. Both benchmarks jumped 5% last week.

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.

Azerbaijan-Armenia conflict isn’t spooking energy markets. Yet

September 28, 2020 6:49 pm

The conflict centers on the Nagorno-Karabakh region claimed by both countries. In theory, it has the potential to disrupt oil and gas flows from Azerbaijan, since export pipelines from the Caspian Sea region’s second-biggest crude producer run within just 10 miles of its border with Armenia.

Kuwait, one of the world's richest petrostates, is running out of cash

September 03, 2020 4:30 pm

The OPEC club of oil-exporters has revived crude from its historic drop this year, but $40 is still too low. The coronavirus pandemic and shift toward renewable energy threaten to keep prices depressed.

Oil set for weekly gain with US rebound outweighing IEA report

August 14, 2020 12:59 pm

Futures in New York edged higher near $42 a barrel Friday and are up around 3% for the week. A slew of encouraging data on US crude stockpiles, gasoline consumption and refinery activity spurred the biggest daily jump in three weeks Wednesday.

June crude oil processing picks up on easing of travel restrictions

July 25, 2020 1:07 am

Total crude oil processing in India for the June quarter was down 22.3 per cent at 48.6 MMT, as against 62.8 MMT in the year-ago period, and 20.2 per cent below the processing target for the quarter.

Oil prices turn negative on US-China tensions, corona cases

July 24, 2020 1:28 pm

Brent crude fell 25 cents to $43.06 a barrel by 0713 GMT, and US West Texas Intermediate (WTI) crude eased 28 cents to $40.79.

Oil eases amid rising coronavirus cases worldwide

July 20, 2020 12:15 pm

Brent crude was down 25 cents, or 0.6%, at $42.89 a barrel by 0353 GMT, after dropping slightly last week. US oil was off by 22 cents, or 0.5%, at $40.37 a barrel, after gaining 4 cents last week.


Fuel prices at an all-time high: News in Numbers

June 22, 2020 6:17 pm

How the government is explaining the rise in petrol and diesel prices. Take a look in today’s News in Numbers.