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  • Oil prices rise amid Venezuela export concerns Jun 06, 2018 10:40 AM IST

    Oil prices rise amid Venezuela export concerns

    Falling production from Venezuela has contributed to a rally in global oil price Brent to nearly $80 a barrel. State firm PDVSA is considering declaring force majeure on some exports, three sources told Reuters, amid plummeting output from its oil fields and tanker bottlenecks at ports.

  • US oil prices inch up on fall in local crude stockpiles Jun 06, 2018 07:43 AM IST

    US oil prices inch up on fall in local crude stockpiles

    U.S. crude marked its lowest level in nearly two months on Tuesday after three OPEC and industry sources said the U.S. government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, although it has not requested a specific figure.

  • Oil climbs, but record US crude output, higher OPEC supplies drag Jun 05, 2018 07:41 AM IST

    Oil climbs, but record US crude output, higher OPEC supplies drag

    Brent crude futures added 15 cents, or 0.2 percent, to $75.44 a barrel at 0020 GMT, after settling down 2 percent at $75.29 a barrel on Monday.

  • Crude oil prices ease on record US output, higher OPEC supplies Jun 04, 2018 09:18 AM IST

    Crude oil prices ease on record US output, higher OPEC supplies

    "Crude oil remained under pressure as the market remained focused on the discussion between OPEC members about whether they should increase production later this year," ANZ said in a note.

  • Brent premium over WTI hits new three-year high Jun 01, 2018 05:35 PM IST

    Brent premium over WTI hits new three-year high

    The spread between Brent crude oil futures contracts and US WTI stood at its widest for three years on Friday with the latter set for a second consecutive week of declines as US oil output comes close to matching that of top producer Russia.

  • Crude oil eases on record US production, OPEC supply hopes Jun 01, 2018 10:40 AM IST

    Crude oil eases on record US production, OPEC supply hopes

    U.S. West Texas Intermediate crude lost 16 cents, or 0.2 percent, to $66.88 a barrel by 0423 GMT, after falling almost 2 percent on Thursday.

  • Oil prices dip on unexpected growth in US crude stocks May 31, 2018 07:37 AM IST

    Oil prices dip on unexpected growth in US crude stocks

    Brent crude was down 20 cents at $77.30 per barrel at 0041 GMT, after settling the last session up 2.8 percent.

  • Oil prices mixed amid worries over growing supplies May 30, 2018 07:32 AM IST

    Oil prices mixed amid worries over growing supplies

    Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by 1 million barrels per day (bpd) to counter potential supply shortfalls from Venezuela and Iran.

  • Oil prices mixed but expected output increase drags May 29, 2018 09:58 AM IST

    Oil prices mixed but expected output increase drags

    Brent crude futures were up 31 cents, or 0.41 percent, at $75.61 a barrel at 0213 GMT, after settling at their lowest since May 8 at $75.30.

  • Oil sinks while stocks gain on North Korea, euro shaken by Italy May 28, 2018 08:56 AM IST

    Oil sinks while stocks gain on North Korea, euro shaken by Italy

    The euro bounced back from a 6-1/2-month low after the Italian president rejected a eurosceptic as a key economy minister, but his move was seen as triggering a possible constitutional crisis and opening the prospect of fresh elections, keeping the single currency fragile.

  • Oil prices drop on potential increase in OPEC output May 24, 2018 09:05 AM IST

    Oil prices drop on potential increase in OPEC output

    A surprise build up in crude oil inventories in the United States also weighed on prices, driving the spread between Brent crude and U.S. West Texas Intermediate (WTI) close to its widest in three years.

  • Excise duty, state VAT cut in offing to cool fuel prices? May 23, 2018 03:32 PM IST

    Excise duty, state VAT cut in offing to cool fuel prices?

    Oil marketing companies can also be asked to slow down the pace of increase in price revisions and absorb some of the cost

  • Oil dips as market eyes possible easing of OPEC supply curbs May 23, 2018 10:15 AM IST

    Oil dips as market eyes possible easing of OPEC supply curbs

    Brent futures fell 43 cents, or 0.5 percent, to $79.14 a barrel by 0218 GMT, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014.

  • Oil prices rise on worries over Venezuelan supply May 22, 2018 07:48 AM IST

    Oil prices rise on worries over Venezuelan supply

    Brent crude futures were at $79.37 per barrel at 0110 GMT, up 15 cents, from their last close. Brent broke through $80 for the first time since November 2014 last week.

  • The crude story: Why oil is rising and what it means for Indian stocks May 21, 2018 01:03 PM IST

    The crude story: Why oil is rising and what it means for Indian stocks

    In India, an increase in crude oil prices brings with it higher inflows from the Middle East.

  • Oil prices boosted by news China, US put trade war 'on hold' May 21, 2018 09:33 AM IST

    Oil prices boosted by news China, US put trade war 'on hold'

    Brent crude futures were at $79.13 per barrel at 0121 GMT, up 62 cents, or 0.8 percent, from their last close. Brent broke through $80 for the first time since November 2014 last week.

  • Saudi Arabia assures on supply as oil hits $80 a barrel May 18, 2018 02:55 PM IST

    Saudi Arabia assures on supply as oil hits $80 a barrel

    OPEC's most influential energy minister, Saudi Arabia's Khalid al-Falih, said in a Twitter post that he had called his counterparts in the United Arab Emirates, the United States and Russia, as well as major oil consumer South Korea, to "coordinate global action to ease global market anxiety".

  • Rise in crude prices poses risk to India's current account deficit: Report May 18, 2018 12:30 PM IST

    Rise in crude prices poses risk to India's current account deficit: Report

    "Our commodities team expects oil prices to continue to rise over the course of this summer, before moderating slightly at the end of the year. We recently increased our 2018-19 current account deficit (CAD)forecast to 2.4 percent of GDP (from 2.1 percent of GDP earlier)," Goldman Sachs said in a research note.

  • Oil steady on OPEC cuts, strong demand and looming Iran sanctions May 18, 2018 08:59 AM IST

    Oil steady on OPEC cuts, strong demand and looming Iran sanctions

    But markets remained below multi-year highs from the previous day as surging output from the United States is expected to offset at least some of the shortfalls.

  • Oil hits USD 80, highest since November 2014, on Iran concerns May 17, 2018 09:30 PM IST

    Oil hits USD 80, highest since November 2014, on Iran concerns

    Brent crude futures reached an intraday high of USD 80.18 a barrel before receding to USD 79.67 at 1326 GMT.

  • Oil markets firm as Brent edges ever closer to $80 per barrel on tight market May 17, 2018 08:05 AM IST

    Oil markets firm as Brent edges ever closer to $80 per barrel on tight market

    Brent crude futures were at $79.32 per barrel at 0027 GMT, up 4 cents from their last close.

  • Oil near November 2014 highs firm as markets tighten amid OPEC cuts, Iran sanctions May 15, 2018 07:37 AM IST

    Oil near November 2014 highs firm as markets tighten amid OPEC cuts, Iran sanctions

    Brent crude futures , the international benchmark for oil prices, were at $78.37 per barrel at 0028 GMT, up 14 cents from their last close and not far off a three-and-a-half year high of $78.53 a barrel reached the previous session.

  • Oil ebbs from multi-year highs on surge in US drilling, Iran sanctions opposition May 14, 2018 08:34 AM IST

    Oil ebbs from multi-year highs on surge in US drilling, Iran sanctions opposition

    Still, crude prices remained near more than three-year-highs reached last week as markets expect Iran's oil exports to fall significantly once U.S. sanctions bite later this year.

  • Oil near multi-year highs as Iran sanctions tighten supply outlook May 11, 2018 02:45 PM IST

    Oil near multi-year highs as Iran sanctions tighten supply outlook

    The United States plans to reintroduce sanctions against Iran, which pumps about 4 percent of the world's oil, after abandoning a deal reached in late 2015 that limited Tehran's nuclear ambitions in exchange for the removal of U.S. and European sanctions.

  • US exiting Iran nuclear deal: Decoding its impact on India May 10, 2018 07:06 PM IST

    US exiting Iran nuclear deal: Decoding its impact on India

    Countries like Saudi Arabia and Israel support US’s decision to exit the deal and stand to benefit both economically and politically from the sanctions

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