Category: Oil & Gas

Oil prices fell on Friday, but were poised for a weekly gain as renewed optimism on China’s demand recovery over-rode recession worries brought by growing crude inventories in the US and tightening monetary policy in Europe. Brent crude futures fell 31 cents, or 0.4 per cent, to $84.44 a barrel at 0412 GMT. US West […]

Thousands of fishermen in the Philippines have been ordered to stay ashore as authorities struggled Friday to contain an oil spill from a sunken tanker that is threatening the region’s rich marine life and economy. The slick off Mindoro island, south of the capital Manila, stretched for 120 kilometres (75 miles) and was about nine […]

The rupee appreciated by 9 paise to close at 82.49 against the US dollar on Wednesday as a positive trend in domestic equities and easing crude oil prices supported investor sentiments. Weakness in the US dollar in the global markets and gains in Asian currencies following positive Chinese macro data also bolstered the local unit. […]

Oil prices inched up in early Asian trade on Thursday, extending gains from the previous two sessions on signs of a strong economic rebound in China, the world’s top oil importer, which offset worries about a rise in US crude inventories. Brent crude futures rose 12 cents, or 0.1 per cent, to $84.43 a barrel […]

India’s fuel demand witnessed the sharpest rebound in February as petrol and diesel consumption rose by double digits after a winter lull in the previous month, preliminary industry data showed on Wednesday. Petrol sales of state-owned fuel retailers jumped 12 per cent to 2.57 million tonne in February, as compared to 2.29 million tonne of […]

Domestic and commercial LPG cylinders across the country saw a hike of Rs 50 and Rs 350.5 per unit, respectively, effective from March 1. Several groups in the city have expressed concerns about their businesses being affected due to the price hike. P C Rao, president, Bruhat Bangalore Hotels Association (BBHA), said that the hike […]

National Stock Exchange (NSE) said on Wednesday that the country’s market regulator has approved the launch of rupee-denominated NYMEX crude oil and natural gas futures contracts in its commodity derivatives segment. NSE said earlier this month that it signed a data licensing deal with CME Group Inc to list, trade and settle rupee-denominated U.S. West […]

Price of jet fuel (ATF or Air Turbine Fuel) was cut by 4 per cent on Wednesday. ATF price was cut by Rs 4,606.50 per kilolitre to Rs 1,07,750.27 per kl.

Oil prices rose for a second day on Wednesday as reports of expanding manufacturing activity in China, the world’s biggest crude importer, boosted the outlook for global fuel demand. Brent crude oil for May was up 24 cents, 0.3 per cent, to 83.69 a barrel at 0214 GMT. The April contract expired on Tuesday up […]

Oil prices steadied in early Asian trade on Tuesday after falling on strong US manufacturing data that raised worries about further interest rate hikes dampening demand, while analysts predicted another build in American crude inventories. Brent crude futures for April, due to expire on Tuesday, lost 20 cents to $82.25 per barrel by 0137 GMT, […]

In a further pinch to consumers’ pockets, prices of cooking gas were raised on Wednesday for households as well as commercial use. Price for a 14.2-kg domestic LPG cylinder increased by Rs 50 while that of a 19-kg commercial LPG cyinder rose by Rs 350, effective March 1. A domestic cylinder will now cost Rs […]

Oil prices inched lower in volatile trade on Monday, as a stronger dollar and fears of recession risks offset gains arising from Russia’s plans to deepen oil supply cuts. West Texas Intermediate US crude futures (WTI) traded at $76.09 a barrel, 23 cents, or 0.3 per cent lower, while Brent crude futures were down 30 […]