March 17, 2023 09:47 PM IST

Oil prices rise then dive to 15-month lows on bank fears

Oil prices took a dive on Friday, reversing early gains of more than $1 a barrel and falling by more than $3, as banking sector fears set crude on course for its biggest weekly decline in months.

Explained: Factors behind the recent drop in crude oil prices

With the collapse of big global banks, the crude oil prices fell to $72 per barrel this week.

Oil gains reverse on banking sector fragility

Brent crude futures fell by 76 cents, or 1.02%, to $73.94 a barrel by 1322 GMT. U.S. West Texas Intermediate crude was down 52 cents, or 0.76%, at $67.83.

Oil slumps $5/bbl to lowest in more than a year as banking fears mount

Early signs of a return to calm and stability faded after Credit Suisse's largest investor said it could not provide the Swiss bank with more financial assistance, sending its shares and other European equities sliding.

Oil prices continue slump in fallout from SVB shutdown

Brent crude futures fell $1.64, or 2%, to $79.13 a barrel by 1001 GMT. U.S. West Texas Intermediate crude futures (WTI) dropped $1.74, or 2.3%, to $73.06 a barrel. On Monday, Brent and WTI fell to their lowest since early January and December, respectively.

Crude oil prices slide $2 as banking fears rattle markets

Brent crude futures were down $2.03, or 2.5%, to $80.75 per barrel by 1401 GMT. West Texas Intermediate U.S. crude futures (WTI) fell $2.11, or 2.8%, to $74.57 a barrel.

Oil prices set for 5% weekly drop on US rate hike jitters

Brent dipped 41 cents, or 0.5%, to $81.18 a barrel by 0852 GMT. U.S. West Texas Intermediate crude (WTI) was down 56 cents, or 0.7%, at $75.16.

Oil steady as supply worries offset China demand uncertainty

Brent crude futures rose 18 cents to $86.36 per barrel by 0730 GMT after settling 0.4% higher on Monday.

Oil prices down after report on UAE debating OPEC exit

Brent crude futures were down 71 cents, or 0.8%, at $84.04 a barrel by 1456 GMT. U.S. West Texas Intermediate (WTI) crude futures dipped 57 cents, or 0.7%, to $77.59. Both benchmarks had dropped more than $2 earlier.

Why is windfall tax still levied on crude?

Oil drops on huge US stock build; demand outlook limits losses

Brent futures fell $1.35, or 1.6 percent, to $84.23 a barrel by 11:11 a.m. EST (1611 GMT), while U.S. West Texas Intermediate crude (WTI) fell $1.46, or 1.9 percent, to $77.60.

Oil prices fall after US crude release lifts supply concerns

Brent futures for April delivery fell $1.22, or 1.4%, to $85.39 a barrel by 11:17 a.m. EST (1617 GMT). US West Texas Intermediate crude futures for March fell by $1.32, or 1.7%, to $78.82 a barrel.

FY24 inflation forecast conservative, can benefit from low oil prices: Das

The Indian central bank has forecast that headline retail inflation may average 5.3 percent in 2023-24

Oil prices stable as OPEC+ sticks to policy ahead of Fed meeting

Brent crude futures were down 14 cents, or 0.1%, at $85.33 a barrel by 1419 GMT. West Texas Intermediate (WTI) U.S. crude futures rose 13 cents, or 0.2%, to $79.00.

Oil prices gain around 2% on China recovery hopes

Brent crude futures were up $1.58, or 1.84%, to $87.50 a barrel by 1458 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.83, or 2.28%, to $82.01. Both were at their highest since early December.

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.

OMCs took big hits, discussions on for further compensation to parry FY23 losses: Minister Hardeep Puri

The petroleum minister's statement comes a day after CNBC TV-18 reported, citing sources, that oil companies are expecting a Rs 50,000 crore compensation from the government for the losses incurred due to the freeze in retail petrol and diesel prices.

Can China revive the oil market? 

There is a wide range in which oil prices can move in 2023, and a lot of it has to do with what happens in China 

Oil prices fall 4% on mounting worry about global economy

Brent futures fell $3.53 to $78.57 a barrel for a 4.3% loss by 11:39 a.m. EST (1639 GMT). U.S. crude dropped $3.37, or 4.4%, to $73.56.

Oil dives 3.5%, trade choppy on worries about China, global economy

Brent futures for March delivery fell $3.03 to $82.88 a barrel, by 11:45 a.m. ET (16:45 GMT). U.S. crude fell $2.81 to $77.45 per barrel.

Oil set to end volatile 2022 with second annual gain

Brent crude on Friday rose 52 cents, or 0.6%, to $83.98 a barrel by 10:54 a.m. EST (1554 GMT). U.S. West Texas Intermediate crude gained 34 cents, or 0.4%, to $78.74.

Wall Street surges in bargain-hunting rally; oil slides

All three major U.S. stock indexes rose in a broad-based rally, with the tech-heavy Nasdaq leading the pack

Oil trims losses as softer dollar offsets Chinese demand fears

Brent futures for February were down $1.08, or 1.3%, at $82.18 a barrel by 1439 GMT. The more active March contract shed 1.26% to $82.93/bbl, after falling by over $2 earlier in the session.

Oil prices remained volatile in 2022 driven by geopolitical tensions, demand worries

Prices surged to 14-year high of $140 per barrel in March but have now tapered off to around $80 per barrel.

Oil prices fall on worries about China COVID-19 surge

Brent futures for February delivery fell 42 cents, or 0.5%, to $83.91 a barrel, by 1215 GMT. U.S. crude fell 32 cents, or 0.4%, to $79.21 per barrel.