Oil prices

Oil prices News

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

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.

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

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.


High oil prices an 'Achilles heel' for Indian economy: Report

For bond markets, the worry is two-pronged with the concern being that high oil prices might pose a fresh risk to the fiscal math, if subsides return, by extension requiring higher borrowing, said the duo.

India's oil consumption rises for third month before Lok Sabha Elections

Demand for liquefied petroleum gas is also surging, with state refiners seeking to import cargoes of the cooking fuel as the government tries to keep voter morale high by ensuring rural households are well supplied.

Oil prices rise as OPEC output cuts seen deeper than previously expected

Benchmark Brent crude futures were up 1.51 percent at $55.17 per barrel at 0112 GMT, recovering from losses of $2.89 per barrel the session before.

How global oil prices fell, and impact on India

With global brent crude oil prices having fallen significantly over the last six weeks from $86.29 to $63.3 per barrel, Indian petrol and diesel prices have seen some correction while the rupee has strengthened against the dollar.


Oil rises but declines for the week as supply concerns ease

Brent crude rose 88 cents to settle at $75.33 a barrel, a 1.18 percent gain. The global benchmark fell about 2.7 percent for the week.

Oil Minister Dharmendra Pradhan rules out review of daily fuel pricing

Daily revision in petrol and diesel prices, which was introduced in mid-June last year, had come in for criticism after rates were hiked every day last month in step with firming international oil rates.

Crude oil slumps as OPEC, Russia look to raise output amid US surge

To address potential supply shortfalls, Saudi Arabia, de-facto leader of producer cartel OPEC, as well as top producer Russia said on Friday they were discussing raising oil production by some 1 million bpd.

China, United States put trade war 'on hold' as oil prices rise

The US trade war with China is "on hold" after the world's largest economies agreed to drop their tariff threats while they work on a wider trade agreement, US Treasury Secretary Steven Mnuchin said on Sunday.