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Crude oil futures decline to INR 2,493 per barrel in Asian markets

Crude oil futures fell INR 15 to INR 2,493 per barrel today as speculators offloaded bets amid a weak trend in Asian markets. Analysts said that trading sentiment turned weak at the futures trade after oil prices resumed their slide ...

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Iraq to supply crude oil and natural gas to Egypt and Jordan

Mr Tarek El Molla, Egypt’s minister of petroleum, said that Egypt signed a memorandum of understanding on Sunday to receive crude oil and natural gas from Iraq. The petroleum ministry statement said that the agreement was part of a deal ...

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Crude oil jumps as producing nations enter talks

Proactive Investors reported that if reports are to be believed a new cartel of sorts is forming and it could help prop up the oil market. According to press reports, a number of major oil producing nations comprising both OPEC ...

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US is not opening the tap on crude oil exports

A planned deal to swap Mexican crude for lighter and more expensive US oil is just a drop in the bucket toward ending a 40 year ban. The US ban on crude oil exports isn’t going anywhere at least not ...

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U.S. gas prices fall alongside crude oil

Aug 9 The average price of a gallon of gasoline in the United States fell 11 cents in the past two weeks, pulled down by the ongoing slump in crude oil prices, according to the Lundberg survey released on Sunday. Regular grade gasoline ...

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India could gain INR 88,800 cr this year form weak crude oil

The country is set to save INR 88,800 crore this financial year, thanks to a drop in the price of the Indian basket of crude oil to a six-month low of USD 49.11 a barrel. The crude oil price decline ...

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Brent crude oil is in a bear market

Brent crude oil is in a bear market. On Monday afternoon, the international benchmark of oil prices fell more than 2% to close at $53.47 per barrel in futures trading. A bear market is roughly defined as a 20% drop from ...

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Crude oil lower after comments from Tehran official

Crude oil closed lower overnight after a Tehran official indicated the Islamic Republic might miss another deadline in securing a nuclear deal integral to lifting Western sanctions on its crude exports. Mr Mohammad Javad Zarif, Foreign Minister, was quoted later ...

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Estimating state crude oil production

Market analysts the EIA has said have a keen interest in understanding how crude oil production in key US states has been affected by recent changes in crude oil prices and drilling activity. The EIA develops state level production estimates ...

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IEA: Oil market bottom may still be ahead

Crude prices may have further to fall before the oil market can re-balance global supply and demand and fix the oil glut that toppled $100 oil last year, the International Energy Agency said Friday. The Paris-based group predicted growth in ...

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