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  • Warren Buffett's company has bet over $45 billion on the oil sector Aug 10, 2022 08:14 AM IST

    Warren Buffett's company has bet over $45 billion on the oil sector

    This year, Berkshire Hathaway purchased Occidental Petroleum stock for more than USD 11 billion.

  • Oil prices dip after industry data shows US crude stockpiles rising Aug 10, 2022 06:21 AM IST

    Oil prices dip after industry data shows US crude stockpiles rising

    U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts had forecast a small 400,000-barrel drop in crude inventories.

  • Warren Buffett's company has bet over $45B on the oil sector Aug 09, 2022 09:28 PM IST

    Warren Buffett's company has bet over $45B on the oil sector

    Occidental’s stock jumped nearly 5 percent Tuesday to trade for $62.89 after Buffett revealed his latest purchases of nearly 6.7 million Occidental shares worth more than $400 million.

  • Oil dips on chance of Iran supply boost Aug 09, 2022 06:46 AM IST

    Oil dips on chance of Iran supply boost

    Brent crude futures fell 27 cents, or 0.3%, to $96.38 a barrel at 0027 GMT, paring a 1.8% gain from the previous session.

  • Indian Oil Corp unit to open 50 fuel stations in Sri Lanka to help alleviate crisis Aug 08, 2022 03:30 PM IST

    Indian Oil Corp unit to open 50 fuel stations in Sri Lanka to help alleviate crisis

    Sri Lanka is caught in its worst financial crisis in more than 70 years as a shortage of foreign exchange has left it struggling to pay for essential imports of food, medicine and, critically, fuel.

  • Oil: Price fall in a tight market makes it a tricky affair Aug 08, 2022 10:22 AM IST

    Oil: Price fall in a tight market makes it a tricky affair

    Though crude oil is now trading in the nervous nineties, a sudden flare-up cannot be ruled out

  • Oil bounces as China, US data ease recession concerns Aug 08, 2022 07:06 AM IST

    Oil bounces as China, US data ease recession concerns

    Brent crude futures had risen 22 cents, or 0.2%, to $95.14 a barrel by 0439 GMT. U.S. West Texas Intermediate crude was at $89.18 a barrel, up 17 cents, or 0.2%.

  • Crude oil heads for 10% weekly collapse as slowdown hits demand Aug 05, 2022 07:35 AM IST

    Crude oil heads for 10% weekly collapse as slowdown hits demand

    West Texas Intermediate steadied below $89 a barrel in Asia, with the US benchmark down more than 10% this week. Official data showed US gasoline consumption has softened while crude stockpiles rose.

  • Oil languishes on recession fears; unconcerned stocks climb on Aug 05, 2022 07:21 AM IST

    Oil languishes on recession fears; unconcerned stocks climb on

    Benchmark Brent crude futures were up a touch at $94.23 a barrel and U.S. crude futures were also a whisker higher at $88.70 a barrel, after both closed the previous session at their lowest levels since February.

  • Saudi, UAE save oil firepower in case of winter supply crisis Aug 05, 2022 07:16 AM IST

    Saudi, UAE save oil firepower in case of winter supply crisis

    When the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided on Wednesday to raise oil output by a mere 100,000 barrels per day (bpd), it broke a taboo with a rare reference to the group's spare production capacity.

  • Brent crude hits pre-Ukraine invasion lows on recession fears Aug 04, 2022 10:24 PM IST

    Brent crude hits pre-Ukraine invasion lows on recession fears

    Brent crude futures were down $2.88, or 3%, at $93.90 a barrel by 1543 GMT, while West Texas Intermediate (WTI) crude futures fell $2.37, a 2.6% decline, to $88.29.

  • Commodities Market Live: Global sugar prices at 12-month low: Here's why Aug 04, 2022 12:52 PM IST

    Commodities Market Live: Global sugar prices at 12-month low: Here's why

    Global sugar prices at a 12-month low. Join Karunya Rao & Manisha Gupta as they decode the reasons for the fall in prices.

  • Malaysia says ready to help India meet palm oil demand Aug 04, 2022 10:25 AM IST

    Malaysia says ready to help India meet palm oil demand

    India is expected to see a surge in demand to around 800,000 tonnes per month for the next six months, Malaysia's Plantation Industries and Commodities Minister Zuraida Kamaruddin said in a statement, citing data from the Indian Vegetable Oil Producers' Association.

  • OPEC+ agrees tiny output rise in setback for Joe Biden Aug 04, 2022 09:37 AM IST

    OPEC+ agrees tiny output rise in setback for Joe Biden

    The increase, equivalent to 0.1% of global demand, follows weeks of speculation that Biden's trip to the Middle East and Washington's clearance of missile defence system sales to Riyadh and the United Arab Emirates will bring more oil to the world market.

  • Oil prices rebound after dropping to lowest in months on weak US demand Aug 04, 2022 06:46 AM IST

    Oil prices rebound after dropping to lowest in months on weak US demand

    Brent crude futures rose 53 cents, or 0.6%, at $97.31 a barrel by 0020 GMT while West Texas Intermediate (WTI) crude futures rose 55 cents, also a 0.6% gain, to $91.21. Both benchmark fell to their weakest levels since February in the previous session.

  • Oil falls 2% on U.S. crude, gasoline build, slight OPEC+ hike Aug 03, 2022 09:41 PM IST

    Oil falls 2% on U.S. crude, gasoline build, slight OPEC+ hike

    Brent crude futures were down $2.35, or 2.4 percent, at $98.19 a barrel by 11:09 a.m. ET (1509 GMT).

  • OPEC+ to decide oil output to world amid high inflation Aug 03, 2022 03:16 PM IST

    OPEC+ to decide oil output to world amid high inflation

    Amid high oil prices and uncertain energy supplies made worse by Russia's conflict on Ukraine, the OPEC oil cartel and its partners are gathering on Wednesday to decide how much crude to produce in September.

  • Oil falls on demand worries, stronger US dollar Aug 03, 2022 06:27 AM IST

    Oil falls on demand worries, stronger US dollar

    Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous session's gain.

  • US targets Chinese, UAE firms in new Iran oil sanctions Aug 02, 2022 11:13 AM IST

    US targets Chinese, UAE firms in new Iran oil sanctions

    The U.S. Treasury and the U.S. State Departments imposed sanctions on a total of six companies, four based in Hong Kong, one in Singapore, and one in the United Arab Emirates (UAE) in actions that were announced in separate statements.

  • Asian stocks slide with oil on recession jitters; dollar drops Aug 02, 2022 07:32 AM IST

    Asian stocks slide with oil on recession jitters; dollar drops

    There were also jitters about an escalation in Sino-U.S. tension with U.S. House of Representatives Speaker Nancy Pelosi set to begin a visit to Taiwan against the objections of China, which regards the self-governed island as a breakaway province.

  • Oil prices slip as weak manufacturing data stokes recession fears Aug 02, 2022 06:34 AM IST

    Oil prices slip as weak manufacturing data stokes recession fears

    Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel.

  • Don’t count on OPEC pumping more oil. Russia is in the way Aug 01, 2022 08:44 PM IST

    Don’t count on OPEC pumping more oil. Russia is in the way

    The producer group is being asked to pump more oil and help combat soaring inflation. Russia’s not going to let that happen

  • Pakistan imposes PKR 30 billion as additional taxes to prevent default on oil and gas payments Aug 01, 2022 12:31 PM IST

    Pakistan imposes PKR 30 billion as additional taxes to prevent default on oil and gas payments

    The decision was taken at a special meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by the Finance Minister Miftah Ismail on Sunday.

  • OPEC secretary general says Russia's membership in OPEC+ is vital for success of agreement Aug 01, 2022 06:43 AM IST

    OPEC secretary general says Russia's membership in OPEC+ is vital for success of agreement

    OPEC+ is an alliance of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia.

  • Oil prices slip ahead of OPEC+ meeting Aug 01, 2022 06:11 AM IST

    Oil prices slip ahead of OPEC+ meeting

    Brent crude futures dropped 63 cents, or 0.6%, to $103.34 a barrel by 0000 GMT. U.S. West Texas Intermediate crude was at $97.87 a barrel, down 75 cents, or 0.7%, after hitting a session low of $97.55 when trading commenced in Asia.

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