Oil Prices: News, Photos, Latest News Headlines about Oil Prices

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Oil prices resume slide on oversupply and storage concerns

April 27, 2020 9:10 pm

Prices have now fallen for eight of the past nine weeks.

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After six days of fall, retail fuel prices stay unchanged

March 12, 2020 6:44 am

Oil marketing companies (OMCs) had reduced the retail price of petrol by Rs 1.72 to Rs 70.29 and that of diesel by Rs 1.69 to Rs 63.01 in the national capital in the past fortnight.

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Petrol, diesel price see steepest hike since Budget, govt says concerned after Saudi attack

September 17, 2019 5:19 pm

Petrol price was increased by 14 paisa per litre to Rs 72.17 and diesel by 15 paisa to Rs 65.58 per litre in the national capital, according to price information available from state-owned oil firms.

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Brent could rally above $75 if Saudi outage extends beyond 6 weeks: Goldman

September 16, 2019 4:14 pm

Oil prices surged on Monday, with global benchmark Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after the attack on Saturday shut over 5% of global supply.

Oil prices soar to 4-month high after attack on Saudi facilities hits global supply

September 16, 2019 3:27 pm

State oil giant Saudi Aramco said the attack cut output by 5.7 million barrels per day, at a time when Aramco is trying to ready itself for what is expected to be the world's largest share sale.

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Oil prices slip as demand worries outweigh OPEC supply cuts

July 02, 2019 9:56 am

The Organization of the Petroleum Exporting Countries (OPEC) agreed on Monday to extend oil supply cuts until March 2020 as the group's members overcame their differences in order to try to prop up the price of crude.

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Explained: How tanker attackers on a skinny waterway could affect oil prices

June 16, 2019 10:59 am

The oil producing countries around the Gulf, including Kuwait, Saudi Arabia, Iraq and Iran, are crucial for supplying the world oil market. Most of their exports must travel through the Strait of Hormuz.

Oil prices surge after suspected tanker attack near Iran

June 13, 2019 8:16 pm

The Marshall Islands-flagged Front Altair carrying naphtha and the Panama-flagged Kokuka Courageous carrying methanol have been evacuated and the crews are safe.

Explained: US sanctions and Venezuela's exports and imports

Oil prices firm amid US sanctions on crude exporters Iran, Venezuela

May 08, 2019 11:03 am

The United States re-imposed sanctions on Iran in November last year, demanding all countries stop importing oil from the country. Iran has said it will defy the sanctions and continue to export oil.

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Oil dips but set for longest run of weekly gains in years in tense market

April 26, 2019 1:41 pm

Still, prices are on course for the longest run of weekly gains in years, as oil markets have tightened amid supply disruptions and rising geopolitical concerns, especially over the tensions between the United States and Iran.