Brent Crude News
Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days
Oil slid to its lowest in three weeks on Friday due to concerns about excess supplies and a wave of technical selling. For the week, Brent prices lost more than 2.5 per cent, while WTI saw a drop of 1.2 per cent.
4 min read7 Dec 2024Morgan Stanley, HSBC slash crude oil supply forecast; Brent average pegged near $70 for 2025 after OPEC+ verdict
OPEC+ verdict: Morgan Stanley raised its Brent forecast for the second half of 2025 to $70 from $66-68 per barrel, while HSBC maintained its forecast at $70 per barrel for 2025 and beyond.
4 min read6 Dec 2024Brent shy of $73, US WTI sheds over 4% in 5 days on easing supply risk: Goldman Sachs in favor of OPEC+ cuts
Brent crude fell 34 cents, or 0.46 per cent, to settle at $72.94 per barrel. US WTI crude futures fell 72 cents, or 1.05 per cent, to settle at $68 per barrel.
3 min read30 Nov 2024Oil Edges Higher as Traders Weigh US Stockpile Drop, Middle East
Oil edged higher after four sessions of declines as traders weighed falling US crude stockpiles and potential risks to production in the Middle East against underwhelming stimulus measures from China.
1 min read18 Oct 2024Asian Traders Cautious Ahead of China Reopening: Markets Wrap
Asian stocks were set for a cautious start after losses in the US, with traders preparing for Chinese markets to reopen following a week-long holiday.
3 min read8 Oct 2024Brent Oil Surges to $80 as War Risk Keeps Investors on Edge
Brent crude soared to $80 a barrel — its highest price since August — as mounting tensions in the Middle East raised speculation that Israel may attack Iran’s oil infrastructure.
2 min read7 Oct 2024Oil Drops as Traders Watch for Israeli Response to Iran Strike
Oil opened the week lower as the market waited to see if Israel would retaliate against Tehran for a missile attack last week, with President Joe Biden discouraging a strike on Iran’s crude fields.
1 min read7 Oct 2024Gold vs Oil | Yellow metal up 13%, Brent crashes 17% in three months: What should you bet on amid rate cuts?
Gold vs Oil | Policy rates have varying effects on gold and crude oil prices due to the relative appeal of the commodities, which investors seek to protect against global inflation
7 min read1 Oct 2024Prabhudas Lilladher sees oil price rebound to $75-80/bbl, upgrades ONGC and OIL ratings to ’buy’
Prabhudas Lilladher upgraded ONGC and OIL amid a projected recovery in oil prices to $75-80 per barrel. They expect improved gas realization and production growth, with ONGC’s oil production CAGR at 3.4 per cent and OINL’s at 8 per cent through FY26.
2 min read16 Sep 2024Oil Rebounds After Brutal Week as Traders Take Stock of Outlook
Oil rose from its lowest close since 2021 after a deep weekly loss pushed futures close to levels regarded as oversold, with the focus this week on three reports that may clarify the demand outlook.
1 min read9 Sep 2024Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared