Crude Price News
Brent 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 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 2024Oil gains 6% in 5 days over EU sanctions on Russia, Iran & US Fed rate cut bets; Brent sits at 3-week high
Brent futures rose $1.08, or 1.5 per cent, to settle at $74.49 per barrel, logging a gain of five per cent last week. This was the contract’s highest close since November 22.
4 min read14 Dec 2024Oil 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 2024Govt increases windfall tax on crude petroleum to ₹3,200/tonne
The windfall tax on petroleum crude has been increased to ₹3,200 per tonne from ₹1,700 per tonne, effective February 3.
2 min read3 Feb 2024Outlook 2024: How equities, gold and crude oil will perform next year
In 2023, the Indian market achieved historic milestones despite facing multiple challenges. Brokerage house Kotak Securities has come out with outlook for equities, gold and crude oil for the upcoming year.
4 min read29 Dec 2023Petrol, diesel may get cheaper as OMCs become profitable: Report
In contrast to peak losses of ₹17 per litre on petrol and ₹35 per litre on diesel in 2022, OMCs are now making a profit of ₹8-10 per litre on petrol and ₹3-4 per litre on diesel.
1 min read11 Dec 2023Crude oil prices decline: How it will impact the equity market, reasons for the fall, sectors to be affected and more
The decline in oil prices is expected to provide a boost to the Indian equity market, especially the sectors that use crude oil as raw material. Conversely, some sectors can plummet, say analysts. A look at the sectors that would be impacted the most.
3 min read7 Dec 2023Israel-Hamas War: Oil rallies as Gaza hospital blast ratchets up regional tensions
West Texas Intermediate rose above $88 a barrel, after swinging by more than $2 on Tuesday.
1 min read18 Oct 2023Popular 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