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  • Oil drops as India coronavirus crisis tempers rally May 13, 2021 07:42 AM IST

    Oil drops as India coronavirus crisis tempers rally

    Brent crude was down 32 cents, or 0.5%, at $69.00 a barrel by 0145 GMT, after gaining more than 1% on Wednesday. West Texas Intermediate (WTI) was down 31 cents, or 0.5%, to $65.77 a barrel, havingrisen 1.2% in the previous session.

  • Oil climbs on drop in US oil stockpiles, solid demand outlook May 12, 2021 07:52 AM IST

    Oil climbs on drop in US oil stockpiles, solid demand outlook

    U.S. West Texas Intermediate (WTI) crude futures rose 21 cents, or 0.3%, to $65.49 a barrel at 0013 GMT, adding to a 36 cent rise on Tuesday.

  • OPEC sticks to 2021 oil demand growth forecast despite Indian COVID crisis May 11, 2021 05:51 PM IST

    OPEC sticks to 2021 oil demand growth forecast despite Indian COVID crisis

    The Organization of the Petroleum Exporting Countries expected demand to rise by 5.95 million barrels per day (bpd) this year, or 6.6%, its forecast unchanged.

  • Indian oil refiners cut output, imports as pandemic hits demand May 11, 2021 01:55 PM IST

    Indian oil refiners cut output, imports as pandemic hits demand

    State-run Bharat Petroleum Corp has cut its crude imports by 1 million barrels in May and will reduce purchases by 2 million barrels in June, a company official told Reuters

  • Oil settles higher as key US fuel pipeline plans restart May 11, 2021 08:25 AM IST

    Oil settles higher as key US fuel pipeline plans restart

    Colonial Pipeline, the largest fuel pipeline in the United States, said on Monday it expects to "substantially" restore operational service by the end of the week.

  • Top US fuel pipeline remains days from reopening after cyberattack May 11, 2021 07:44 AM IST

    Top US fuel pipeline remains days from reopening after cyberattack

    The attack on the Colonial Pipeline, which carries nearly half the fuel consumed along the US East Coast, is one of the most disruptive digital ransom schemes ever reported.

  • Oil gains after cyberattack forces shutdown of crucial US pipelines May 10, 2021 12:30 PM IST

    Oil gains after cyberattack forces shutdown of crucial US pipelines

    Brent crude was up by 57 cents, or 0.8%, at $68.85 a barrel by 0645 GMT, having risen by l.5% last week. U.S. West Texas Intermediate futures rose by 51 cents, or 0.8%, at $65.41 a barrel, after gaining more than 2% last week.

  • Supply shortage, soaring demand drive up commodity prices, Shankar Sharma explains backwardation in lumber and tin May 10, 2021 11:35 AM IST

    Supply shortage, soaring demand drive up commodity prices, Shankar Sharma explains backwardation in lumber and tin

    The premium for commodities that can be delivered now versus later into the future is the highest since 2007, signalling just how strong is the demand for raw materials and how tight supplies are.

  • Asian shares jump on hopes for low rates, oil up on cyber attack May 10, 2021 07:53 AM IST

    Asian shares jump on hopes for low rates, oil up on cyber attack

    MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.35%, while U.S. stock futures rose 0.24%.

  • India offers to lift regular Saudi oil volumes in June after May cuts: Sources May 07, 2021 07:40 AM IST

    India offers to lift regular Saudi oil volumes in June after May cuts: Sources

    The refiners - Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd - normally buy 14.8 million-15 million barrels of Saudi oil a month.

  • Oil prices edge up as investors eye fuel demand recovery May 07, 2021 07:40 AM IST

    Oil prices edge up as investors eye fuel demand recovery

    Brent crude futures for July were at $68.17 a barrel by 0052 GMT, up 8 cents, while U.S. West Texas Intermediate (WTI) crude for June rose 9 cents to $64.80.

  • Oil prices fall as US gasoline stocks rise for a fifth week May 06, 2021 08:12 AM IST

    Oil prices fall as US gasoline stocks rise for a fifth week

    Brent crude oil futures fell by 16 cents, or 0.2%, to $68.80 barrel by 0123 GMT, and U.S. West Texas Intermediate (WTI) crude futures dropped by 20 cents, or 0.3%, to $65.43 a barrel.

  • OPEC's share of Indian oil imports plunges to 2 decade low: Trade May 03, 2021 02:48 PM IST

    OPEC's share of Indian oil imports plunges to 2 decade low: Trade

    Total crude imports by the world's third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier, the data showed.

  • Oil climbs as demand optimism overshadows India worries May 03, 2021 07:32 AM IST

    Oil climbs as demand optimism overshadows India worries

    Brent crude futures for July gained 36 cents, or 0.5%, to $67.12 a barrel by 0045 GMT while U.S. West Texas Intermediate for June was at $63.94 a barrel, up 36 cents, or 0.6%.

  • Oil prices extend gains as demand outlook offsets India concerns Apr 29, 2021 07:19 AM IST

    Oil prices extend gains as demand outlook offsets India concerns

    Brent crude for June edged up 8 cents, or 0.1%, to $67.35 a barrel by 0104 GMT while U.S. West Texas Intermediate crude for June was at $63.98 a barrel, up 12 cents, or 0.2%.

  • Oil inches lower on concerns over COVID-19 surge in India, Japan Apr 26, 2021 07:21 AM IST

    Oil inches lower on concerns over COVID-19 surge in India, Japan

    Brent crude futures fell 8 cents, or 0.1%, to $66.03 a barrel by 0058 GMT, following a 1.1% rise on Friday. U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $62.10 a barrel, after rising 1.2% on Friday.

  • Oil steady as Libya output decline offsets risks to Asian demand Apr 23, 2021 07:25 AM IST

    Oil steady as Libya output decline offsets risks to Asian demand

    Brent futures edged up 8 cents, or 0.1%, to settle at $65.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 8 cents, or 0.1%, to end at $61.43.

  • Oil falls third day on US stock build, surging COVID-19 cases Apr 22, 2021 07:53 AM IST

    Oil falls third day on US stock build, surging COVID-19 cases

    Brent crude futures fell 57 cents, or 0.9%, to $64.75 a barrel by 0157 GMT, following a drop of $1.25 on Wednesday. U.S. West Texas Intermediate (WTI) crude futures were down 58 cents, or 1.0%, at $60.77 a barrel, after losing $1.32 on Wednesday.

  • Asia joins global equity rebound; oil weak on COVID-19 worries Apr 22, 2021 07:53 AM IST

    Asia joins global equity rebound; oil weak on COVID-19 worries

    Japan led gains, with the Nikkei 225 rallying 1.7%, after sliding 2% in each of the last two sessions.

  • Oil prices rise on weaker dollar, likely drawdown in US stocks Apr 20, 2021 07:48 AM IST

    Oil prices rise on weaker dollar, likely drawdown in US stocks

    Brent crude futures for June delivery rose by 29 cents, or 0.4%, to $67.33 a barrel at 0157 GMT.

  • Oil falls amid surging coronavirus infections in India, other countries Apr 19, 2021 07:29 AM IST

    Oil falls amid surging coronavirus infections in India, other countries

    Brent crude was down 43 cents, or 0.6%, at $66.34 a barrel by 0139 GMT, after rising 6% last week. U.S. oil was down 42 cents, or 0.7%, at $62.71 a barrel, having gained 6.4% last week.

  • Oil rises on drawdown in US oil stocks, OPEC demand outlook Apr 14, 2021 08:02 AM IST

    Oil rises on drawdown in US oil stocks, OPEC demand outlook

    Brent crude futures rose 28 cents, or 0.4%, to $63.95 a barrel at 0057 GMT, after climbing 39 cents on Tuesday.

  • Oil edges higher on Mideast tension, likely crude stocks drawdown Apr 13, 2021 07:39 AM IST

    Oil edges higher on Mideast tension, likely crude stocks drawdown

    Still, crude prices have remained rangebound in the past three weeks, as growing expectations of surging economic activity in the U.S. and China are balanced by the slow rate of vaccinations in Europe and anticipation of additional supply of oil from Iran in the coming months.

  • Oil prices climb on favourable outlook for US fuel demand Apr 12, 2021 07:58 AM IST

    Oil prices climb on favourable outlook for US fuel demand

    Brent was up 25 cents, or 0.4%, at $63.20 a barrel by 0155 GMT. U.S. crude gained 17 cents, or 0.3%, to $59.49 a barrel.

  • Oil edges up on weak dollar; investors weigh rising supplies, demand outlook Apr 09, 2021 08:03 AM IST

    Oil edges up on weak dollar; investors weigh rising supplies, demand outlook

    Brent crude futures for June climbed 7 cents, or 0.1%, to $63.27 a barrel by 0106 GMT while U.S. West Texas Intermediate (WTI) crude for May was at $59.77 a barrel, up 17 cents, or 0.3%.

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