Crude Oi News
IEA trims oil-demand outlook, but still expects stronger growth this year
The International Energy Agency slightly lowered this year’s global oil-demand outlook, but said it still expects growth to accelerate on lower prices and an improving economic outlook in developed countries.
3 min read15 Jan 2025Brent heats above $81, WTI in overbought territory after crude oil hits four-month high on Russian oil sanctions
Brent futures rose $1.40, or 1.8 per cent, to $81.16 per barrel, while US West Texas Intermediate (WTI) crude rose $2.15, or 2.8 per cent, to $78.72.
4 min read13 Jan 2025Oil sizzles to 3-month high after US imposes tougher sanctions on Russian crude; Brent rallies 4% to touch $80
Brent crude futures settled at $79.76 a barrel, up $2.84, or 3.7 per cent, after crossing $80 a barrel for the first time in three months. US West Texas Intermediate crude futures rose $2.65, or 3.6 per cent
2 min read11 Jan 2025MRPL partners ISPRL for cost-effective crude oil storage facility
Mangalore Refinery and Petrochemicals Ltd has entered into an agreement to store its crude oil in the caverns of the Indian Strategic Petroleum Reserves Ltd.
2 min read7 Jan 2025India’s petroleum exports plunge amid weak global demand, Red Sea disruptions
During the April-to-November period, petroleum products exports amounted to $44.61 billion, in value terms, a sharp drop from $55.02 billion in the same period last year, according to data from the Ministry of Commerce and Industries.
3 min read1 Jan 2025Brent crude outlook bearish on oversupply, grim oil demand; 2025 average pegged at $74 after hitting $80 in 2024
Brent crude oil benchmark settled down around three per cent from its final 2023 closing price of $77.04, while US WTI was roughly flat with last year’s final settlement.
6 min read1 Jan 2025Oil logs weekly gain in holiday-thinned trade on low US crude stock, China stimulus outlook; Brent sits at $74/bbl
Oil Prices Today: Brent crude futures rose 91 cents, or 1.2 per cent, to settle at $74.17 per barrel. US West Texas Intermediate crude futures rose 98 cents, or 1.4 per cent, to $70.60 per barrel.
3 min read28 Dec 2024Oil spikes 1% in holiday-thinned session over China stimulus outlook; Brent hits $74 in rangebound trade
Brent crude futures last rose 48 cents, or 0.7 per cent, to $74.06 per barrel. From Tuesday’s pre-Christmas settlement, US West Texas Intermediate crude was at $70.72.
2 min read26 Dec 2024Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl
Oil prices: Brent crude futures closed up six cents, or 0.08 per cent, at $72.94 a barrel. US West Texas Intermediate crude futures rose eight cents, or 0.12 per cent, at $69.46 per barrel.
3 min read21 Dec 2024Refining margins of state-run oil marketing companies fall this fiscal
Although domestic demand for petroleum products has been robust, the global trend has been subdued due to weak demand by China, the second largest importer of crude oil.
3 min read16 Dec 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