Oil News

Oil prices rise for second day after Middle East tanker attacks

Tensions in the Middle East have escalated since U.S. President Donald Trump withdrew from a 2015 multinational nuclear pact with Iran and reimposed sanctions, especially targeting Tehran's oil exports.

Explained: Volatility in crude prices this week and its impact on the rupee

It was a volatile week for global crude oil prices, and in turn for the Indian rupee which reacts negatively to a rise in crude oil prices and vice-versa.


Oil set for strongest quarter in a decade on OPEC cuts, sanctions

Despite the surging prices, analysts are expressing concerns about future oil demand amid worrying signs the global economy may move into a recession.

Oil climbs on US-China trade deal hopes, OPEC's deepening supply cuts

The rally came on reports that the United States and China are close to ending their trade disputes, which have weighed on global economic growth.

Venezuela turns to India for oil exports as US sanctions bite

Venezuela has sent its oil minister, Manuel Quevedo, to India to convince refiners, including Reliance Industries Ltd and Nayara Energy Ltd, to double their oil purchases.

Oil prices resume fall, shed most of their gains from last session

Oil prices are down more than 30 per cent from peaks seen in October.


Oil firms on drop in US crude stocks, market awaits OPEC/Russia supply decision

Oil producers have been hit by a 30-percent plunge in crude prices since October as supply surges just as the demand outlook weakens amid a global economic slowdown.

Oil prices fall as US grants Iran sanction waivers to eight countries

US Secretary of State Mike Pompeo, who announced the decision, did not name the eight, which he referred to as "jurisdictions," a term that might include importers such as Taiwan which the United States does not regard as a country.

Donald Trump is rerouting world's oil tankers

Oil markets are also grappling with record U.S. output, fueled by shale production, and America’s removal in late 2015 of longstanding crude-export limits.

Oil prices fall amid surprise growth in US crude stocks

The latest escalation in the tit-for-tat trade war between the US and China stoked worries over global economic growth and demand for oil. Beijing on Tuesday quickly added $60 billion of US products to its import tariff list in retaliation for Trump's planned levies on $200 billion worth of Chinese goods.