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Oil dives 2%, heads for weekly loss as US rigs rise

Oil prices fell 2 percent on Friday, with losses accelerating after the U.S. oil rig count rose for a fourth week in a row, putting crude on track for a weekly loss and dragging Brent to two-month lows.

ONGC saddled with Rs 392 cr additional royalty, Rs 1,100 cr burden on Oil India

ONGC saddled with Rs 392 cr additional royalty, Rs 1,100 cr burden on Oil India

ONGC will have to shell out Rs 392 crore and Oil India Ltd over Rs 1,100 crore after the government ordered them to pay royalty at gross crude oil price and not the net rate they actually realise.

Brent oil pushes above $50 for first time in nearly seven months

Brent oil pushes above $50 for first time in nearly seven months

Brent had climbed 34 cents to $50.08 a barrel by 0520 GMT, its highest since Nov. 4. It ended the previous session up $1.13, or 2.3 percent.

India ready to clear $6.5 billion of Iran's oil dues ahead of Modi's visit

India ready to clear $6.5 billion of Iran's oil dues ahead of Modi's visit

Keen to step up engagement in hydrocarbon sector with Iran, India has conveyed to the Persian Gulf nation that it was ready to clear nearly $6.5 billion of the dues for oil import from that country at the earliest, provided there was clarity on payment channel.

 IEA says oil price rout may finally be over

IEA says oil price rout may finally be over

The oil price may have finally bottomed out after an unprecedented drop over the past 18 months, the International Energy Agency (IEA) said today, noting oil's "remarkable recovery" over recent weeks

Oil prices dip on continued oversupply, despite news of meeting to freeze output

Crude oil prices dipped in early trading on Friday as reports of a meeting by oil producers to freeze output failed to convince traders that enough effort was being made to rein in ballooning global oversupply.

Oil slumps again; US crude at 2003 low

Without any particular market-moving news but a persistent global crude oil glut, the oil market slid again Thursday, dragging US crude to its lowest price in nearly 13 years.

US crude oil prices fall as inventories hit record high

US crude prices dipped in early Asian trading on Thursday as oil storage levels hit record highs, and Goldman Sachs said prices would remain low and volatile until the second half of the year.

Oil slumps on IEA’s gloomy market outlook

Oil resumed heavy falls on Tuesday, erasing earlier gains in highly volatile trade, after the International Energy Agency issued a gloomy market outlook.

Gold jumps to 12-week high as equities and oil tumble

Gold jumps to 12-week high as equities and oil tumble

Gold rallied to its highest in nearly 12 weeks on Tuesday as a fresh rout in world stocks and a slide in oil prices battered appetite for risk, sending investors fleeing to alternative assets.

Oil dives to fresh 12-year low under $27

Oil dives to fresh 12-year low under $27

Oil plunged to fresh 12-year lows under US$27 on Wednesday (Jan 20), slammed by gloomy economic forecasts, China's slowdown and abundant crude supplies.

Oil heads towards $27 per barrel as IEA warns market could 'drown in oil'

Oil heads towards $27 per barrel as IEA warns market could 'drown in oil'

Prices have crashed about 75 percent since mid-2014, hit by a perfect storm of a supply glut, weak demand, a slowing global economy and a strong dollar.

Oil plummets to $29 per barrel, dragging world stocks lower

Oil plummets to $29 per barrel, dragging world stocks lower

Oil prices plummeted to $29 a barrel on Friday on the impending resumption of Iranian oil exports into an already flooded market as international sanctions against the country are lifted, dragging equity indexes around the world sharply lower.

Asia shares hit 3-1/2-year lows as oil resumes fall

Asia shares hit 3-1/2-year lows as oil resumes fall

Asian stocks surrendered earlier gains to hit 3-1/2-year lows on Friday as renewed pressure on oil prices and disappointing Chinese data kept investors on edge.

Petrol and diesel prices to come down soon! Watch video

Petrol and diesel prices to come down soon! Watch video

With the price of Brent crude oil falling to a 12-year low in the international markets, the prices of petrol and diesel are likely to come down soon in the Indian market too.

Watch: Why rates of petrol and diesel may come down soon

Why rates of petrol and diesel may come down soon.

Brent falls to another 12-year low on oversupply gloom

Brent falls to another 12-year low on oversupply gloom

It was the second time in two days for Brent, the global benchmark, to drop below $30 a barrel.

Oil cheaper than water but why is petrol sold at Rs 60 per litre? Find our here

Oil cheaper than water but why is petrol sold at Rs 60 per litre? Find our here

It is well-known that bottled water is being sold at Rs 15 - 20 in the country. The crude oil that reached India on January 7 cost Rs 12.6 per litre.

Oil down again to 12-year low; $30 handle looks more likely

Brent settled down 48 cents at $33.75, after sliding to a low of $32.16, a level last seen in April 2004.

Oil extends losses, nears $33 a barrel

Oil extends losses, nears $33 a barrel

Oil prices plunged close to $33 a barrel on Thursday as crude extended losses on rising US energy stockpiles and China's weakening currency.