Oil prices

Why Indians will not benefit from falling crude oil price in the US

In a first, oil prices plummeted to negative on Monday (April 20) in the US as the demand for energy fell down sharply due to the coronavirus COVID-19 pandemic. According to The New York Times, the fuel storage tanks in the United States were near capacity making it tough for the companies to hold all the unused crude.

Apr 22, 2020, 07:09 AM IST

US crude oil futures crashes below $5 per barrel as demand plunges

Energy traders bailed out of the expiring May US oil futures contract in a frenzy on Monday (April 20, 2020) as the contract dropped by more than 70% to less than $5 a barrel and opening the widest gap ever between it and the next contract with storage rapidly filling.

Apr 21, 2020, 00:20 AM IST

Congress leader Rahul Gandhi takes a dig at PM Narendra Modi, Finance Minister Nirmala Sitharaman over petrol price hike

Congress leader Rahul Gandhi on Sunday (March 15) slammed Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman over the recent hike in prices of petrol and diesel despite a significant fall in oil prices in the global market.

Mar 16, 2020, 08:07 AM IST

Crude oil prices jump up by 11 percent after observing biggest fall on Monday

Energy markets went into a free fall on Monday with oil prices across variants plunging around 30 per cent, the biggest fall since the 1991 Gulf War. The slide comes after Saudi Arabia shocked the market by launching a price war after no consensus was arrived between OPEC and Russia to cut crude oil production as part of market stabilisation exercise.

Mar 10, 2020, 18:52 PM IST

Oil plunges about 30% after Saudi Arabia slashes prices, opens taps

Brent crude futures fell by as much as $14.25, or 31.5%, to $31.02 a barrel, which was the biggest percentage drop since Jan. 17, 1991, at the start of the first Gulf War and the lowest since February 12, 2016.

Mar 09, 2020, 07:47 AM IST

Oil prices rise as Saudi supply risks come into focus

Brent crude futures gained $1.44 to $65.04 a barrel by 0958 GMT, while US West Texas Intermediate crude was up 89 cents at $59 a barrel.

Sep 19, 2019, 16:26 PM IST

Saudi attacks raise spectre of oil at $100 per barrel

Attacks on two plants at the heart of the kingdom`s oil industry on Saturday knocked out more than half of Saudi crude output, or 5% of global supply.

Sep 18, 2019, 09:46 AM IST

Donald Trump says US 'locked and loaded' after attacks in Saudi Arabia, oil prices soar

Taking to microblogging site Twitter, US President Donald Trump suggested that America “knows the culprit” behind the attack on Saudi Arabia facilities.

Sep 16, 2019, 07:03 AM IST

Oil drops 1%, set for biggest monthly fall since November as trade wars spreads

Front-month Brent crude futures, the international benchmark for oil prices, were at $65.97 at 0639 GMT, down by 90 cents, or 1.4%, from last session`s close.

May 31, 2019, 14:00 PM IST

High oil prices an 'Achilles heel' for Indian economy: Report

Also, pipeline inflation risks due to high oil prices further raise the hurdle for rate-cuts.

Apr 23, 2019, 09:49 AM IST

Oil eases from four-month high on global growth worries

Oil prices edged lower on Thursday, retreating from a four-month peak, as fears of a slowing global economy weighed on market sentiment.

Mar 21, 2019, 07:47 AM IST

Oil prices edge up, but set for first annual drop since 2015

Oil prices edged higher on Monday, the last day of 2018, but were en route for their first annual drop in three years as fears of a slowing global economy and emerging supply glut outweighed impending OPEC-led production cuts. 

Jan 01, 2019, 07:47 AM IST

Global capital markets likely to remain volatile: SEBI Chairman

Indian currency depreciation was also in sync with global trend, he said.

Dec 21, 2018, 11:36 AM IST

Saudi Arabia pumps record amount of oil as Trump piles on pressure

Saudi Arabia agreed to raise supply steeply in June, in response to calls from consumers, including the United States and India, to help cool oil prices and address a supply shortage.

Nov 26, 2018, 18:02 PM IST

Oil Minister Dharmendra Pradhan requests Odisha CM to reduce VAT on petrol, diesel

Fuel prices are the steepest in Maharashtra and the lowest in Andaman and Nicobar.

Sep 17, 2018, 16:13 PM IST

Govt approves fiscal incentives for projects to improve oil recovery

For gas, a 75 percent discount in royalty would be given.

Sep 13, 2018, 11:43 AM IST

PM Modi likely to review state of economy this weekend

An increase in interest rate to shore up the rupee, that hit a fresh lifetime low Wednesday, is also being talked about in some quarters.

Sep 13, 2018, 11:11 AM IST

Blame for fuel price shock definitely lies with NDA government. Here's why

When 'international developments' were favourable, the NDA government took credit for something it didn't do. Now that situation is unfavourable, it doesn't want to take the blame.

Sep 10, 2018, 10:40 AM IST

IndiGo to levy up to Rs 400 fuel surcharge per passenger on domestic routes to offset rising oil prices; fares set to rise

IndiGo is the first local carrier to announce passing on the burden of spiralling jet fuel prices to the passengers.

May 29, 2018, 21:05 PM IST

Oil prices slump as OPEC and Russia consider output boost

Brent crude futures fell $2.35, or 3 percent, to settle at $76.44 a barrel. 

May 26, 2018, 09:02 AM IST