News WrapGet Handpicked Stories from our editors directly to your mailbox


No final decision taken on crude extraction by OPEC group

No final decision taken on crude extraction by OPEC group.

Jun 03, 2016, 14:33 PM IST

Petrol price hiked by Rs 0.83 per litre, diesel by Rs 1.26 a litre

Oil marketing companies on Monday increased the price of petrol and diesel price by Rs. 0.83/litre & Rs. 1.26/litre respectively with effect from Monday midnight.

May 16, 2016, 23:10 PM IST

Oil dips after Goldman Sachs pours cold water on output freeze prospects

Crude prices dipped on Monday as influential bank Goldman Sachs poured cold water on the prospects of a planned oil producer meeting successfully reining in global oversupply

Apr 11, 2016, 12:51 PM IST

Oil likely to recover to $55 in 12 months: Report

Oil prices are likely to recover after 11-year low to USD 55 per barrel from the current USD 34 in 12 months, following gains in the latter half of 2016, according to a report.

Mar 04, 2016, 15:30 PM IST

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.

Jan 14, 2016, 10:09 AM IST

Brent oil slumps under $35 for first time since 2004

Brent oil prices tumbled Wednesday below $35 for the first time in 11.5 years, plagued by abundant oversupply and the ongoing row between key producers Iran and Saudi Arabia dimming prospects for production cuts.

Jan 06, 2016, 19:40 PM IST

Oil prices edged up after recent losses

Oil prices edged up in Asia on Thursday, lifted by bargain-hunting following a sharp decline the day before, although analysts said the market remains hobbled by an oversupply of the commodity.

Oct 22, 2015, 09:51 AM IST

Oil prices bounce back in Asian trade

Oil prices bounced back in Asia on Thursday as investors weighed a rise in US crude inventories and production against a forecast by OPEC's chief of rising demand.

Oct 08, 2015, 09:45 AM IST

Oil prices sustain rally

Buoyant oil prices sustained a rally in Asia on Wednesday driven by hopes the crude supply glut would ease and expectations the US central bank would hold off from raising interest rates.

Oct 07, 2015, 09:23 AM IST

Oil prices edge up but Iran supply expectations cap gains

Oil prices edged up in Asian trade on Friday following a decline in US crude inventories, although heavier buying was tempered by expectations a return of Iranian crude into the market will further increase global supplies.

Sep 25, 2015, 09:34 AM IST

Oil prices edge up after sharp falls in previous session

Crude prices fell on Monday with the onset of lower demand autumn trading and as weak economic data out of China and soft gasoline prices pressured the market.

Sep 15, 2015, 08:28 AM IST

Oil prices edge up after US drilling cut but oversupply still weighs

US crude futures were trading at $44.86 per barrel at 0215 GMT, up 23 cents from their last settlement, pushed by a slight fall in drilling activity.

Sep 14, 2015, 09:37 AM IST

Oil prices down ahead of US energy report

US benchmark West Texas Intermediate for October delivery fell 65 cents to USD 43.50 while Brent crude for October dropped 76 cents to USD 46.82 in late-morning trade.

Sep 10, 2015, 09:22 AM IST

Weak economic outlook and oversupply weigh on oil markets

Japan`s economy shrank an annualised 1.2 percent in April-June, revised GDP data showed on Tuesday, despite ongoing government and central bank measures to support growth.

Sep 08, 2015, 08:21 AM IST

Oil dips in Asia after mixed US report

US benchmark West Texas Intermediate for October delivery fell 45 cents to USD 45.80 while Brent crude for October slipped 38 cents to USD 50.12 in late-morning trade.

Sep 03, 2015, 10:09 AM IST

Oil falls back below $49 as glut, China concerns weigh

International benchmark Brent crude climbed 10 percent last week but was still heading for its fourth straight monthly decline and has risen in only two of the past 14 months.

Aug 31, 2015, 14:32 PM IST

Oil prices dip in Asia after huge rally

US benchmark West Texas Intermediate for October delivery eased 79 cents to USD 44.43 while Brent crude for October fell USD 1.00 to USD 49.05 in late-morning trade.

Aug 31, 2015, 11:05 AM IST

Oil prices fall on profit taking, rate hike uncertainty

That came after Brent climbed 10 percent last week, while US crude finished the week up 12 percent.

Aug 31, 2015, 08:52 AM IST

Watch: Should there be a cut in petrol and diesel prices?

Brent on Wednesday was up 30 cents at $43.51 a barrel by 1300 GMT, and US crude was up 10 cents at $39.41 a barrel.

Aug 26, 2015, 22:58 PM IST

Oil rebounds but still near 6-1/2-year lows

Futures of U.S. crude and Brent, the global oil benchmark, are both down more than 16 percent on the month.

Aug 25, 2015, 22:29 PM IST