Crude Oil

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Crude Oil - Total results - 480
Wall Street rallies as some US states relax lockdown restrictions; all major indexes claw back, gain over 1%
Business

Wall Street rallies as some US states relax lockdown restrictions; all major indexes claw back, gain over 1%

The indexes are all now within 20 percent of their record closing highs reached in February, with the benchmark S&P 500 on track for its best month since 1987, after trillions of stimulus dollars helped US equities recover from March lows.

Coroanvirus Outbreak: Mideast economies take massive hit with historic oil price crash
Business

Coroanvirus Outbreak: Mideast economies take massive hit with historic oil price crash

Iraq is planning painful cuts in social benefits relied on by millions of government workers. Saudi Arabia will likely have to delay mega-projects

Coronavirus Outbreak: Reliance Industries cuts crude processing at Jamnagar SEZ refinery by 24%
Business

Coronavirus Outbreak: Reliance Industries cuts crude processing at Jamnagar SEZ refinery by 24%

Reliance Industries Ltd has cut crude oil processing at its exports-only refinery at Jamnagar in Gujarat in March by close to one-fourth as it joins public sector oil firms in cutting run-rate to align production with a coronavirus-induced slump in fuel consumption

Meghalaya govt increases taxes on auto fuel; petrol to cost Rs 74.90 per litre, diesel at Rs 67.50
Business

Meghalaya govt increases taxes on auto fuel; petrol to cost Rs 74.90 per litre, diesel at Rs 67.50

The Meghalaya government has increased taxes on petrol and diesel from Wednesday amid the nationwide lockdown and plunging crude oil prices, officials said on Wednesday

China's crude imports rise over 4% as global prices take a beating due to coronavirus outbreak; builds up stockpiles
Business

China's crude imports rise over 4% as global prices take a beating due to coronavirus outbreak; builds up stockpiles

Low oil prices “have a positive impact on China,” said the ruling Communist Party's Political and Legal Commission on its social media account.

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost
Business

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost

State-owned ONGC has asked the government to waive payment of oil cess and royalty as plummeting international oil prices have meant that the rate it now gets does not even cover the operating cost, sources said

Coronavirus Outbreak: Oil prices tumble on demand collapse, Brent crude at 1999 lows
Business

Coronavirus Outbreak: Oil prices tumble on demand collapse, Brent crude at 1999 lows

Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak

US oil futures plumb historic lows below zero, Brent plunges on concerns of collapse in demand, storage facility
Business

US oil futures plumb historic lows below zero, Brent plunges on concerns of collapse in demand, storage facility

Describing the drop in US oil futures as short-term and stemming from a “financial squeeze”, US President Donald Trump on Monday said his administration would consider halting Saudi crude oil imports.

Oil price collapse in US not to lead to any big drop in petrol, diesel prices in India, say experts
Business

Oil price collapse in US not to lead to any big drop in petrol, diesel prices in India, say experts

The historic rout in oil markets that sent US crude prices plummeting to as much as minus $40 a barrel is unlikely to translate into any big reduction in petrol and diesel prices in India as domestic pricing is based on the different benchmark, and refineries are already filled up to brim and cannot buy US crude just yet

Crude oil futures plunges into negative, but MCX seeks interim settlement at Re 1; SEBI gets into action
Business

Crude oil futures plunges into negative, but MCX seeks interim settlement at Re 1; SEBI gets into action

Crude oil futures contract price may have plunged into negative territory in the international market, but India's leading commodity exchange MCX has fixed an interim settlement price of Re 1 per barrel

Nifty, Sensex rattled by US crude plunge; oil stocks crash, ICICI shares drop second straight day
Business

Nifty, Sensex rattled by US crude plunge; oil stocks crash, ICICI shares drop second straight day

Maruti was the top laggard in the Sensex pack, sinking up to 7 percent, followed by Tata Steel, IndusInd Bank, Bajaj Finance, Axis Bank, ICICI Bank and ONGC.

Crude claws back into positive territory but historic crash spooks investors; analysts hint at demand destruction
Business

Crude claws back into positive territory but historic crash spooks investors; analysts hint at demand destruction

May futures settled at minus $37.63 a barrel on Monday, a 306% daily drop, driven by the rapid filling of the United States’ main storage hub at Cushing, Oklahoma - the delivery point for West Texas crude.

US oil plunged below $0 a barrel on Monday: Here's all you need to know about negative crude futures and what it means for consumers
Business

US oil plunged below $0 a barrel on Monday: Here's all you need to know about negative crude futures and what it means for consumers

The price of a barrel of benchmark US oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut

Crude oil futures crashes into negative territory for the first time in history amid coronavirus pandemic
Business

Crude oil futures crashes into negative territory for the first time in history amid coronavirus pandemic

While US oil prices are trading in negative territory for the first time ever, it is unclear whether that will trickle down to consumers, who typically see lower oil prices translate into cheaper gasoline at the pump.

Crude falls more than 10% to lows not seen since 1999; oil market under pressure due to weak fuel consumption, grim forecasts
Business

Crude falls more than 10% to lows not seen since 1999; oil market under pressure due to weak fuel consumption, grim forecasts

The oil market has been under pressure due to a spate of reports on weak fuel consumption and grim forecasts from the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency.

China's daily crude output sinks to 15-month low; state refiners maintain deep cuts as virus erodes demand
Business

China's daily crude output sinks to 15-month low; state refiners maintain deep cuts as virus erodes demand

Crude runs over the period came in at 149.28 million tonnes, or about 11.98 million barrels per day (bpd), down 4.6 percent from a year earlier, National Bureau of Statistics data shows.

Rupee gives up early gains, slides to all-time low of 76.44 as dollar strengthens; weak domestic equities weigh on local unit
Business

Rupee gives up early gains, slides to all-time low of 76.44 as dollar strengthens; weak domestic equities weigh on local unit

At the interbank foreign exchange, the rupee opened strong at 76.07, but soon lost ground and finally settled at 76.44, registering a fall of 17 paise over its previous close.

Rupee rises 25 paise to 76.02 against dollar in early trade; high trading in domestic equities support currency
Business

Rupee rises 25 paise to 76.02 against dollar in early trade; high trading in domestic equities support currency

At the interbank foreign exchange the rupee opened at 76.07, and gained further ground and touched a high of 76.02 against the US dollar, registering a rise of 25 paise over its previous close.

Govt plans to fill strategic petroleum reserve by third week of May; to help refineries reduce excess crude
Business

Govt plans to fill strategic petroleum reserve by third week of May; to help refineries reduce excess crude

India plans to completely fill its strategic petroleum reserve (SPR) by the third week of May by moving about 19 million barrels into the sites by then, the managing director of the country’s SPR said on Tuesday

IOC gets first shipload of 1 million barrels crude oil from UAE to fill strategic reserves
Business

IOC gets first shipload of 1 million barrels crude oil from UAE to fill strategic reserves

India is capitalizing on low global oil prices to fill its underground strategic oil reserves, with the first shipload of 1 million barrels of crude oil from the UAE arriving at Mangalore as part of efforts to shore up supplies to meet any supply or price disruption