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  • Oil crash good opportunity for India to buy crude in bulk and reduce import bill: WEF’s energy head Roberto Bocca Apr 22, 2020 10:19 AM IST

    Oil crash good opportunity for India to buy crude in bulk and reduce import bill: WEF’s energy head Roberto Bocca

    “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.”

  • Oil prices recover ground after market turmoil fuels price plunge Apr 22, 2020 07:27 AM IST

    Oil prices recover ground after market turmoil fuels price plunge

    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.

  • Covid-19| Plunging crude offers India chance to top up its strategic oil reserves in underground caverns Apr 21, 2020 12:32 PM IST

    Covid-19| Plunging crude offers India chance to top up its strategic oil reserves in underground caverns

    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

  • Crude claws back into positive territory but historic crash spooks investors Apr 21, 2020 09:15 AM IST

    Crude claws back into positive territory but historic crash spooks investors

    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.

  • What is a negative crude future and does it mean anything for consumers? Apr 21, 2020 08:59 AM IST

    What is a negative crude future and does it mean anything for consumers?

    The contract for West Texas intermediate crude, or WTI, is the benchmark for U.S. crude oil prices.

  • Negative $40 oil reflects panic - and US crude market economic reality Apr 21, 2020 07:15 AM IST

    Negative $40 oil reflects panic - and US crude market economic reality

    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.

  • Oil prices bounce back, US crude futures trade above zero Apr 21, 2020 07:04 AM IST

    Oil prices bounce back, US crude futures trade above zero

    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.

  • Saudi Aramco to supply full May crude volumes to Asian refiners: Sources Apr 17, 2020 09:40 AM IST

    Saudi Aramco to supply full May crude volumes to Asian refiners: Sources

    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.

  • Brent oil jumps nearly 3% after Trump lays out plan for easing coronavirus restrictions Apr 17, 2020 07:50 AM IST

    Brent oil jumps nearly 3% after Trump lays out plan for easing coronavirus restrictions

    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.

  • Oil bounces back as rising stockpiles seen pointing to lower output amid coronavirus Apr 16, 2020 07:35 AM IST

    Oil bounces back as rising stockpiles seen pointing to lower output amid coronavirus

    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.

  • Oil falls 5% to $28 on oversupply concerns Apr 15, 2020 03:12 PM IST

    Oil falls 5% to $28 on oversupply concerns

    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.

  • A rare intervention by the US helped seal crucial OPEC deal Apr 15, 2020 08:26 AM IST

    A rare intervention by the US helped seal crucial OPEC deal

    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.

  • Oil gains as US shale production set to fall sharply Apr 14, 2020 07:32 AM IST

    Oil gains as US shale production set to fall sharply

    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.

  • Saudi Arabia cuts May crude prices to Asia by $4.2 per barrel Apr 13, 2020 03:35 PM IST

    Saudi Arabia cuts May crude prices to Asia by $4.2 per barrel

    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.

  • Oil prices jump after top producers agree output cuts Apr 13, 2020 07:18 AM IST

    Oil prices jump after top producers agree output cuts

    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.

  • COVID-19 | The economy needs a reboot and more needs to be done Apr 09, 2020 01:10 PM IST

    COVID-19 | The economy needs a reboot and more needs to be done

    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

  • Oil prices jump on hopes for OPEC, Russia meeting on output cuts Apr 08, 2020 09:04 AM IST

    Oil prices jump on hopes for OPEC, Russia meeting on output cuts

    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.

  • Oil rises 3% on hopes for output cut as coronavirus ravages demand Apr 07, 2020 11:50 AM IST

    Oil rises 3% on hopes for output cut as coronavirus ravages demand

    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.

  • Oil prices rebound on hopes for output cut deal Apr 07, 2020 08:00 AM IST

    Oil prices rebound on hopes for output cut deal

    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.

  • Oil surges as Trump talks up hopes for truce in Saudi-Russia price war Apr 02, 2020 07:20 AM IST

    Oil surges as Trump talks up hopes for truce in Saudi-Russia price war

    Brent crude futures rose 4%, or $1, to $25.74 as of 0118 GMT, after touching a high of $25.89.

  • Crude oil hit by twin shocks of demand and supply, what lies ahead? Apr 01, 2020 11:41 AM IST

    Crude oil hit by twin shocks of demand and supply, what lies ahead?

  • Oil prices mixed, US inventory build-up heightens oversupply concerns Apr 01, 2020 07:15 AM IST

    Oil prices mixed, US inventory build-up heightens oversupply concerns

    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.

  • Crude rises after US, Russia agree to oil market talks Mar 31, 2020 07:11 AM IST

    Crude rises after US, Russia agree to oil market talks

    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.

  • Oil plunges to 2002 lows, global shares sink again Mar 30, 2020 02:32 PM IST

    Oil plunges to 2002 lows, global shares sink again

    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.

  • Crude oil futures slide as pandemic darkens demand outlook Mar 30, 2020 07:43 AM IST

    Crude oil futures slide as pandemic darkens demand outlook

    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.

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