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crude

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

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  • Oil prices rise after US Fed hikes rates, weakening the dollar Feb 02, 2023 07:09 AM IST

    Oil prices rise after US Fed hikes rates, weakening the dollar

    Brent crude futures rose 56 cents, or 0.7%, at $83.40 a barrel while West Texas Intermediate (WTI) U.S. crude futures rose 65 cents, or 0.8%, to $77.05 a barrel.

  • Oil rises as slowing US inflation eases recession concerns Feb 01, 2023 09:57 AM IST

    Oil rises as slowing US inflation eases recession concerns

    Brent crude futures gained 32 cents, or 0.4%, to $85.78 a barrel at 0407 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 42 cents, or 0.5%, to $79.29 a barrel.

  • Oil edges higher ahead of Fed policy decision, OPEC+ guidance Feb 01, 2023 06:23 AM IST

    Oil edges higher ahead of Fed policy decision, OPEC+ guidance

    West Texas Intermediate rose above $79 a barrel after gaining more than 1% on Tuesday. While the US central bank is expected to deliver another interest-rate hike, there are signs officials could consider a pause after Wednesday’s meeting, potentially boosting the allure of risk assets and hurting the dollar.

  • Oil steadies after falling on rate hike worries, Russian crude flows Jan 31, 2023 07:50 AM IST

    Oil steadies after falling on rate hike worries, Russian crude flows

    Brent crude futures gained 28 cents to $85.18 per barrel by 0155 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 9 cents to $77.99.

  • Oil falls ahead of OPEC+, US Federal Reserve meetings Jan 30, 2023 11:22 AM IST

    Oil falls ahead of OPEC+, US Federal Reserve meetings

    Brent crude futures fell 20 cents, or 0.2%, to $86.46 a barrel by 0435 GMT while U.S. West Texas Intermediate crude was at $79.57 a barrel, down 11 cents, or 0.1%.

  • Oil prices edge up on strong US economic data, Chinese demand hope Jan 27, 2023 07:28 AM IST

    Oil prices edge up on strong US economic data, Chinese demand hope

    Brent futures gained 30 cents, or 0.3%, to $87.66 a barrel by 0113 GMT, while U.S. crude rose 21 cents to $81.22 per barrel, a 0.3% gain.

  • Oil steady as market awaits more supply clarity Jan 26, 2023 07:19 AM IST

    Oil steady as market awaits more supply clarity

    Brent crude futures dipped 4 cents, or 0.1%, to $86.08 per barrel by 0400 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 18 cents, or 0.2%, to $80.33.

  • Oil rebounds as China demand recovery optimism supports prices Jan 25, 2023 08:01 AM IST

    Oil rebounds as China demand recovery optimism supports prices

    Brent crude futures gained 59 cents, or 0.7%, to $86.72 per barrel by 0214 GMT after falling 2.3% in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 46 cents, or 0.6%, to $80.59 per barrel, having dropped 1.8% on Tuesday.

  • Oil rises slightly; focus on China demand and US outlook Jan 24, 2023 08:09 AM IST

    Oil rises slightly; focus on China demand and US outlook

    Brent crude had risen 5 cents to $88.24 per barrel by 0116 GMT, while U.S. West Texas Intermediate (WTI) crude rose 13 cents to $81.75 per barrel.

  • Oil prices fall but remain buoyed by China outlook Jan 23, 2023 06:42 AM IST

    Oil prices fall but remain buoyed by China outlook

    Brent crude futures retreated by 46 cents, or 0.5%, to $87.17 at 0031 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, also down 0.5%, to $81.24 a barrel.

  • Oil prices climb on hopes for Fed slowing interest rate hikes Jan 20, 2023 07:21 AM IST

    Oil prices climb on hopes for Fed slowing interest rate hikes

    Brent futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per barrel, a 0.7% gain.

  • Oil prices slip on global recession gloom Jan 17, 2023 07:26 AM IST

    Oil prices slip on global recession gloom

    Brent crude futures were down 38 cents, or 0.5%, at $84.08 at 0114 GMT, extending a 1% loss in the previous session.

  • Govt cuts windfall tax on crude oil, export of diesel, ATF Jan 17, 2023 06:25 AM IST

    Govt cuts windfall tax on crude oil, export of diesel, ATF

    The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been cut to Rs 1,900 per tonne from Rs 2,100 per tonne, the order dated January 16, said.

  • Oil up on China hopes, dollar slump, set for big weekly rise Jan 13, 2023 10:43 PM IST

    Oil up on China hopes, dollar slump, set for big weekly rise

    Brent crude futures rose by $1.01, or 1.2%, to $85.04 a barrel by 11:16 a.m. EST (1616 GMT). West Texas Intermediate (WTI) crude futures gained by $1.18, or 1.5%, to $79.57 a barrel.

  • Oil heads for solid weekly gain on China demand hopes Jan 13, 2023 07:17 AM IST

    Oil heads for solid weekly gain on China demand hopes

    Brent crude futures fell 17 cents, or 0.2%, to $83.86 a barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 12 cents, or 0.2%, to $78.27.

  • Oil up more than $1/bbl on US inflation data, demand hopes Jan 12, 2023 10:26 PM IST

    Oil up more than $1/bbl on US inflation data, demand hopes

    The market is also bracing for an additional curb on Russian oil supply due to sanctions over its invasion of Ukraine.

  • Oil rises on China demand optimism, Russian supply concerns amid sanctions Jan 12, 2023 07:39 AM IST

    Oil rises on China demand optimism, Russian supply concerns amid sanctions

    Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while U.S. West Texas Intermediate crude also rose 50 cents, or 0.7%, to $77.91 per barrel.

  • Oil slips as US crude, fuel inventories reignite demand concerns Jan 11, 2023 07:44 AM IST

    Oil slips as US crude, fuel inventories reignite demand concerns

    U.S. West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8%, to $74.53 a barrel at 0134 GMT, while Brent crude futures were down 62 cents, or 0.8%, at $79.48 a barrel.

  • Oil steady as clarity on Fed rate hike awaited Jan 10, 2023 07:28 AM IST

    Oil steady as clarity on Fed rate hike awaited

    Fed policymakers say fresh inflation data out later this week will help them decide whether they can slow the pace of interest rate hikes at their upcoming meeting, to just a quarter point increase instead of the larger jumps they used for most of 2022.

  • Oil nudges higher after China opens borders, lifts fuel demand outlook Jan 09, 2023 07:20 AM IST

    Oil nudges higher after China opens borders, lifts fuel demand outlook

    Brent crude futures had risen 53 cents, or 0.7%, to $79.10 a barrel by 0114 GMT while U.S. West Texas Intermediate crude was at $74.23 a barrel, up 46 cents, or 0.6%.

  • Oil prices extend gains on lower US fuel inventories Jan 06, 2023 07:55 AM IST

    Oil prices extend gains on lower US fuel inventories

    Brent crude futures last gained 79 cents, or 1%, to $79.48 a barrel at 0203 GMT, after settling up 85 cents at $78.69 on Thursday.

  • Commodities Live: Crude oil prices remain weak, rubber skids to 2-yr low | Tyre stocks in focus Jan 05, 2023 01:27 PM IST

    Commodities Live: Crude oil prices remain weak, rubber skids to 2-yr low | Tyre stocks in focus

    Catch this commodity update with Karunya Rao and Manisha Gupta to find out.

  • Oil slumps 9% in two days on demand concerns, Brent below $79/bbl Jan 05, 2023 09:29 AM IST

    Oil slumps 9% in two days on demand concerns, Brent below $79/bbl

    A surge in Covid-19 cases across China is clouding the near-term demand outlook, overshadowing optimism commodity consumption in the world’s top importer will eventually rebound.

  • Oil prices rebound after opening the year with steep losses Jan 05, 2023 07:23 AM IST

    Oil prices rebound after opening the year with steep losses

    The bounceback followed two days of steep declines to start off 2023 as investors worry about a potential global recession and the short-term economic signs in the world's two biggest oil consumers, the United States and China, appear shaky.

  • Oil slides after IMF says slowing global growth engines portend tougher 2023 Jan 03, 2023 07:27 AM IST

    Oil slides after IMF says slowing global growth engines portend tougher 2023

    Brent crude futures dropped 98 cents, or 1.1%, to $84.93 a barrel by 0148 GMT while U.S. West Texas Intermediate crude was at $79.49 a barrel, down 77 cents, or 1.0%, after the U.S. dollar strengthened. A stronger greenback makes dollar-denominated commodities more expensive for holders of other currencies.