Oil prices were muted in early trade on Tuesday as optimism over better-than-expected economic data from China was offset by caution over an upcoming Federal Reserve meeting and an OPEC decision on production. Chinese business activity grew more than expected in January, government data showed, indicating that the country’s economy was clearly on a path […]
Read MoreOil prices rose on Wednesday, recovering a measure of sharp losses from the prior session, although fears of a global recession and signs of another major build in U.S. inventories kept gains limited. Crude prices have fallen into a holding pattern over the past month, with markets constantly weighing the prospect of slowing global economic […]
Read MoreOil prices fell Monday, consolidating after last week’s strong gains ahead of the release of demand forecasts from the OPEC and the IEA as well as a deluge of potentially influential economic data due this week. By 04:35 ET (09:35 GMT), U.S. crude futures traded 0.7% lower at $79.55 a barrel, while the Brent contract […]
Read MoreOil prices fell on Wednesday after industry data pointed to a large weekly build in U.S. crude stockpiles, although losses were limited by the prospect of strong demand this year and as the dollar softened on expectations of slower interest rate hikes. Data from the American Petroleum Institute showed that U.S. crude stockpiles surged by […]
Read MoreOil hovered near a one-year low on Wednesday as increasing concerns over U.S. economic health and the Federal Reserve largely offset positive supply-side signals from a bigger-than-expected draw in crude inventories. A growing number of Wall Street banks warned of a potential recession in 2023, especially if interest rates keep rising and if inflation proves […]
Read MoreOil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and […]
Read MoreOil prices fell further on Thursday as increasing COVID-19 cases in China brewed more doubts over slowing crude demand, even as data showed U.S. inventories dropped far more than expected and as supply appeared to be tightening. China reported over 20,000 daily new cases this week, its highest rise in roughly seven months. While the […]
Read MoreBy Administrator_India Capital Sands Oil was up Monday morning in Asia. However, a resurgence of COVID-19 globally continues to take an economic toll and dampen fuel demand. Brent oil futures were up 0.29% to $55.18 by 8:41 PM ET (1:41 AM GMT) and WTI futures inched up 0.06% to $52.23. Both Brent and WTI futures remained above the […]
Read MoreBy Administrator_India Capital Sands Fuel prices were unchanged on Wednesday after five consecutive day hike by the oil marketing companies. Petrol and diesel prices that remained unchanged for 48 days, saw a rate revision on November 20 (Friday), as state-run oil marketing companies hiked fuel prices. On Tuesday (November 24) Petrol prices were hiked by 6 […]
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