Oil prices fell on Thursday for the fourth session in a row, as the prospect of higher-for-longer U.S. interest rates raised worries around demand growth in the world’s biggest oil market. Brent crude oil futures were down 45 cents, or 0.6%, at $81.45 a barrel by 11:50 am ET (1550 GMT). U.S. West Texas Intermediate … Read more
Despite touching fresh lifetime high levels, domestic equity benchmarks settled flat last week as investors’ hope for a June rate cut were dashed by higher-than-expected inflation in the US, compounded by positive US employment and manufacturing data. Escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude oil prices upward, impacting the … Read more
Oil prices rose around one per cent in the previous session on geopolitical tensions in the Middle East but posted a weekly loss over a bearish world oil demand growth forecast from the International Energy Agency (IEA) and worries about delayed US interest rate cuts after hotter-than-expected inflation. Brent crude futures settled up 71 cents … Read more
Oil prices continued their upward trajectory amid investor apprehensions regarding potential disruptions in supply due to escalating geopolitical tensions, on Wednesday. However, some of these concerns were mitigated by an unexpected increase in U.S. crude oil inventories. Brent crude futures climbed by 84 cents, representing a 0.9% increase, reaching $89.76 per barrel by 11:38 a.m. … Read more
Crude prices saw a modest 1% increase, reaching a five-month peak. This surge was fueled by anticipations of rising oil demand, prompted by upbeat economic updates from both the U.S. and China, on Monday. Additionally, global supplies faced constraints due to OPEC+ production cuts and assaults on Russian refineries. Brent futures climbed by 73 cents … Read more
Among other reasons, Ukraine’s drone attack on Russian refineries and OPEC extending its supply cuts till mid-2024 have also dictated the movement of crude oil prices. Overall, the Brent crude’s highest mark achieved in FY24 was $97.69 per barrel in September 2023, after the Israel-Hamas war breakout. The lowest was $71.28 per barrel in May … Read more
Global crude oil prices rose sharply by 5.9 per cent over the past month crossing the $86 per barrel mark for the first time since November 2023 –responding to seasonal tightening in physical markets, supply cut extensions, and a pick-up in geopolitical tensions. According to a report by ICICI Bank Research, the upside bias is … Read more
Brent crude futures for May were down 68 cents, or 0.8 per cent, to $85.27 per barrel after dropping by 1.6 per cent on Wednesday. US West Texas Intermediate futures for May were down 69 cents, or 0.9 per cent, to $80.58 per barrel after a fall of about 1.8 per cent in the previous … Read more
International crude oil prices again hit a four month-high mark on Tuesday, March 19, after breaking above range-bound trading last week, but gains were limited by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity. The Brent crude oil futures contract was up 33 cents at $87.22 … Read more
Amid correction in the bullion metal prices, after hotter-than-expected US inflation and PPI print, the stock market and decentralized digital currency market have also fallen under the bears’ grip. Anuj Gupta, Head — Commodity & Currency at HDFC Securities talks to Asit Manohar of Mint and unveils triggers that may lend support to the falling … Read more