Apr 22, 2020 10:19 AM IST
“The fundamental issue (behind the oil price crash) is that there is oversupply and a lower demand than what the supply is trying to face.”
- Apr 22, 2020 07:27 AM IST
After falling into negative territory for the first time in history amid record trading volumes, U.S. crude futures rose 20% as contracts for May delivery expired and the June contract became the front month.
- Apr 21, 2020 12:32 PM IST
India is raising its crude oil storage capacity to equivalent of 87 days of demand, which include 67 days’ worth of commercial stocks held by refineries
- Apr 21, 2020 09:15 AM IST
Futures for May delivery of West Texas Intermediate rose nearly $39 but were still just $1.76 a barrel, after a storage squeeze and collapsing fuel demand crushed prices to eye-popping lows.
- Apr 21, 2020 08:59 AM IST
The contract for West Texas intermediate crude, or WTI, is the benchmark for U.S. crude oil prices.
- Apr 21, 2020 07:15 AM IST
Investors sold the May futures contract due to expire on Tuesday in a series of waves. At one point the contract hit negative $40. When the trading stopped, crude oil had ended the day at a negative $37.63 a barrel, a decline of some 305%, or $55.90 a barrel.
- Apr 21, 2020 07:04 AM IST
U.S. West Texas Intermediate (WTI) crude for May delivery was up $38.73 at $1.10 a barrel by 0117 GMT after settling down at a discount of $37.63 a barrel in the previous session.
- Apr 17, 2020 09:40 AM IST
This comes after the Organization of the Petroleum Exporting Countries and allies including Russia agreed to reduce production and ease a supply glut exacerbated by a collapse in global oil demand following the coronavirus outbreak.
- Apr 17, 2020 07:50 AM IST
Brent was up by 75 cents, or 2.7%, at $28.57 a barrel by 0058 GMT, while U.S. crude for May delivery, which expires on April 21, was up 1 cent, or 0.1%, at $19.88 a barrel. The more active June contract was up $1.1, or 4.3%, at $26.63.
- Apr 16, 2020 07:35 AM IST
Brent crude was up 69 cents, or 2.5%, at $28.38 a barrel by 0102 GMT. U.S. West Texas Intermediate (WTI) was up 56 cents, or 2.8%, at $20.43.
- Apr 15, 2020 03:12 PM IST
The International Energy Agency (IEA) on Wednesday forecast a 29 million barrel per day (bpd) dive in April oil demand to levels not seen in 25 years and said no output cut could fully offset the near-term falls facing the market.
- Apr 15, 2020 08:26 AM IST
President Donald Trump and a group of U.S. senators wielded political influence to push OPEC and its allies to agree over the weekend to cut production by nearly 10 million barrels per day — about 10% of current global output.
- Apr 14, 2020 07:32 AM IST
Brent futures rose 56 cents, or 1.8%, to $32.30 a barrel by 0017 GMT after settling 0.8% higher on Monday. U.S. West Texas Intermediate (WTI) crude was up 47 cents, or 2.1%, at $22.88, having dropped 1.5% the previous session.
- Apr 13, 2020 03:35 PM IST
It has cut the May OSP of its Arab light crude oil to the United States to a discount of $0.75 per barrel versus ASCI, down $3 a barrel from April, according to the document.
- Apr 13, 2020 07:18 AM IST
US benchmark West Texas Intermediate was up 3.7 percent at USD 23.62 a barrel in early Asian trade while Brent crude, the international benchmark, put on 3.1 percent to USD 32.45 a barrel.
- Apr 09, 2020 01:10 PM IST
The pandemic has taught us the pitfalls of depending on other countries to meet our essential supplies. This is an opportune moment to focus and boost the Make in India programme
- Apr 08, 2020 09:04 AM IST
Brent crude was up by 75 cents, or 2.4%, at $32.62 per barrel by 0246 GMT after falling 3.6% on Tuesday. U.S. West Texas Intermediate (WTI) crude rose $1.30, or 5.5%, to $24.93 a barrel after dropping 9.4% in the previous session.
- Apr 07, 2020 11:50 AM IST
Brent crude was up by 93 cents, or 2.8%, at $33.98 a barrel by 0431 GMT after falling more than 3% on Monday. U.S. crude was up by 79 cents, or 3.03%, at $26.87 a barrel, having dropped nearly 8% in the previous session.
- Apr 07, 2020 08:00 AM IST
Prices have fallen sharply since expectations for a quick deal to cut output levels were dashed, but the rescheduling to Thursday of a meeting of major crude producers boosted sentiment.
- Apr 02, 2020 07:20 AM IST
Brent crude futures rose 4%, or $1, to $25.74 as of 0118 GMT, after touching a high of $25.89.
- Apr 01, 2020 11:41 AM IST
- Apr 01, 2020 07:15 AM IST
Brent crude was down by 21 cents, or 0.8%, at $26.14 a barrel by 0032 GMT, while U.S. West Texas Intermediate crude was up by 27 cents, or 1.3%, at $20.75 a barrel.
- Mar 31, 2020 07:11 AM IST
Brent crude was up by 19 cents, or 0.8%, at $22.95 a barrel by 0051 GMT, after closing at $22.76 in the previous session, the lowest close since November 2002.
- Mar 30, 2020 02:32 PM IST
There were some bright spots, with Australian equities posting a standout jump as the government launched a super-sized support programme, but that was about it.
- Mar 30, 2020 07:43 AM IST
U.S. West Texas Intermediate (WTI) crude futures hit a low of $19.92 in early trading and last traded down 5.2%, or $1.12, at $20.39 a barrel as of 2332 GMT, while Brent futures fell 5.6%, or $1.40, to $23.53 a barrel.