Crude oil is a naturally occurring petroleum product composed of hydrocarbons of various molecular weights and miscellaneous organic compounds. It is called a fossil fuel because it is made up of ancient fossils. The oil in use today came from water-based plants and animals that lived even before the existence of dinosaurs. It is a non-renewable resource, which is extracted from the earth by oil drilling. It is usually found alongside other resources, such as natural gas and saline water. After its extraction, crude oil is refined to produce various types of fuels, including gasoline, kerosene, diesel, and various other forms of petrochemicals. It can also be used to create products that aren't typically associated with petroleum, like perfume, fertiliser, and computers are all made with crude oil. Although it is often called black gold, crude oil’s colour may vary in black, dark brown, yellow, red, or even green depending on its hydrocarbon composition. Crude oil also is categorised as ‘sweet’ or ‘sour’ depending on the level of sulphur, which occurs either as elemental sulphur or in compounds such as hydrogen sulphide. Crude oil is a global commodity that trades in markets around the world, both as spot oil and via derivatives contracts. More
Aug 19, 2022 08:53 AM ISTEnergy crisis in Europe and China is forcing plant closure of major industrial metals in both regions, CJ believes this could be a trigger for a new rally in global commodities but Santo warns that any rebound will likely be short-lived. Watch the pair clash over the outlook for global commodities plus share their thoughts on Hindalco, ONGC and JK Cement.
Aug 19, 2022 06:24 AM IST Brent crude futures climbed 7 cents, or 0.1%, to $96.66 a barrel by 0030 GMT after settling 3.1% higher on Thursday. U.S. West Texas Intermediate crude was at $90.65 a barrel, up 15 cents, or 0.2%, following a 2.7% increase in the previous session.
Aug 18, 2022 08:24 AM IST U.S. crude stocks fell by 7.1 million barrels in the week to Aug. 12 to 425 million barrels, Energy Information Administration (EIA) data showed, compared with analysts’ forecasts for a 275,000-barrel drop in a Reuters poll.
Aug 17, 2022 10:17 AM IST Brent crude futures fell $2.76, or 2.9%, to settle at $92.34 a barrel. The contract hit a session low of $91.71 per barrel, the lowest since February 18
Aug 17, 2022 06:46 AM IST Brent crude futures rose 13 cents, or 0.1%, to $92.47 a barrel by 0035 GMT. West Texas Intermediate (WTI) crude futures climbed 27 cents, or 0.3%, to $86.80 a barrel.
Aug 16, 2022 11:22 AM IST The British bank now sees Brent crude averaging $103 this year and next, and U.S. West Texas Intermediate (WTI) to average $99 for both years.
Aug 16, 2022 06:19 AM IST Brent crude futures fell 90 cents, or 1%, to $94.20 a barrel by 00:03 GMT. WTI crude futures fell 81 cents, or 0.9%, to $88.60 a barrel.
Aug 12, 2022 09:41 AM IST Brent crude futures fell 49 cents, or 0.5%, to $99.11 a barrel at 0330 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 50 cents, or 0.5%, to $93.84 a barrel.
Aug 12, 2022 07:07 AM IST Brent crude futures fell 34 cents, or 0.3%, to $99.26 a barrel at 0112 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.3%, to $94.00 a barrel.
Aug 10, 2022 06:21 AM IST U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts had forecast a small 400,000-barrel drop in crude inventories.
Aug 09, 2022 06:46 AM IST Brent crude futures fell 27 cents, or 0.3%, to $96.38 a barrel at 0027 GMT, paring a 1.8% gain from the previous session.
Aug 08, 2022 10:22 AM IST Though crude oil is now trading in the nervous nineties, a sudden flare-up cannot be ruled out
Aug 08, 2022 07:06 AM IST Brent crude futures had risen 22 cents, or 0.2%, to $95.14 a barrel by 0439 GMT. U.S. West Texas Intermediate crude was at $89.18 a barrel, up 17 cents, or 0.2%.
Aug 05, 2022 07:35 AM IST West Texas Intermediate steadied below $89 a barrel in Asia, with the US benchmark down more than 10% this week. Official data showed US gasoline consumption has softened while crude stockpiles rose.
Aug 05, 2022 07:21 AM IST Benchmark Brent crude futures were up a touch at $94.23 a barrel and U.S. crude futures were also a whisker higher at $88.70 a barrel, after both closed the previous session at their lowest levels since February.
Aug 04, 2022 12:52 PM IST Global sugar prices at a 12-month low. Join Karunya Rao & Manisha Gupta as they decode the reasons for the fall in prices.
Aug 04, 2022 06:46 AM IST Brent crude futures rose 53 cents, or 0.6%, at $97.31 a barrel by 0020 GMT while West Texas Intermediate (WTI) crude futures rose 55 cents, also a 0.6% gain, to $91.21. Both benchmark fell to their weakest levels since February in the previous session.
Aug 03, 2022 08:23 AM IST Ahead of the meeting between OPEC and its allies, we get you the latest on oil prices and the likely agenda of this all-important meet with Manisha Gupta of Moneycontrol. Stock in spotlight today: Adani Green, Aurobindo Pharma, Jubilant Pharmnova and Subex. We also answer your stock queries LIVE with Hemen Kapadia of KR Choksey.
Aug 03, 2022 06:27 AM IST Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous session's gain.
Aug 02, 2022 12:31 PM IST Crude oil prices near 4-month ahead of the OPEC meeting. What are the reasons for this fall? And what will be the future outlook? Find out here with Karunya Rao and Manish Gupta.
Aug 02, 2022 06:34 AM IST Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel.
Aug 01, 2022 04:52 PM IST At close, the home currency ended at 79.02 a dollar -- a level last seen on July 4, up 0.23 percent from its Friday's close of 79.25.
Aug 01, 2022 06:11 AM IST Brent crude futures dropped 63 cents, or 0.6%, to $103.34 a barrel by 0000 GMT. U.S. West Texas Intermediate crude was at $97.87 a barrel, down 75 cents, or 0.7%, after hitting a session low of $97.55 when trading commenced in Asia.
Jul 29, 2022 02:32 PM IST State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.
Jul 28, 2022 06:20 AM IST Brent crude futures for September rose $1.20, or 1.1%, to $107.82 a barrel by 0158 GMT, after gaining $2.22 on Wednesday.
Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.
