Oil rose in Asian trade on Thursday after OPEC failed to agree to raise output to aid a faltering global economy, analysts said. New York’s main contract, light sweet crude for July delivery, gained 49 cents to USD 101.23 a barrel and Brent North Sea crude for July delivery rose 27 cents to USD 118.12. […]
In a move that may spook Oil and Natural Gas Corp’s (ONGC) planned public offering, the government has hiked the contribution of upstream oil companies toward fuel subsidies to 38.8 per cent for 2010-11 fiscal. Of the Rs 78,159 crore revenue that retailers lost on selling diesel, domestic LPG and kerosene below cost in the […]
Oil price was higher in Asian trade today. New York’s main contract, light sweet crude for June delivery advanced 80 cents to 97.71 USD a barrel and Brent North Sea crude for July delivery gained 57 cents to 110.56 USD.
Crude fell in Asian trade on Tuesday, as traders locked in profits from earlier gains, analysts said. New York’s main contract, light sweet crude for delivery in June, dipped USD 1.46 to USD 101.09 a barrel. Brent North Sea crude for June delivery lost USD 1.41 to USD 114.49. “Both Brent and WTI (West Texas […]
Oil eased in Asian trade on Tuesday as traders digested news of Osama bin Laden’s death, but prices look set to be tied to the Arab world unrest and the dollar’s value in the long run, analysts said. New York’s main contract, light sweet crude for June delivery, was down 59 cents to USD 112.93 […]
New Delhi: India’s national oil company Oil India Limited (OIL) signed a ten year MOU today with The Energy and Resources Institute (TERI) to broaden the scope of Joint Research Collaboration in areas of Petroleum Biotechnology and New & Renewable Energy Sources. The MOU was singed by Mr. B N Talukdar, Director Exploration and development, […]
Oil prices were up in Asian trade today as escalating tensions in Libya, Syria and Yemen heightened fears of supply disruption in the Middle East and North African region. New York’s main contract, light sweet crude for delivery in June, rose 52 cents to 112.81 a barrel, while Brent North Sea crude for June gained […]
Oil fell in Asian trade on Tuesday after a bearish Standard and Poor’s report on the United States, but geopolitical risks in the Arab world will continue to drive prices higher, analysts said. New York’s main contract, light sweet crude for delivery in May dipped 17 cents to USD 106.95 a barrel, while Brent North […]
State-owned oil firms will lose a whopping over Rs 177,500 crore on selling fuel at government-controlled rates this fiscal, 68 per cent more than what they lost when crude oil touched an all-time high in 2008-09. Indian Oil, Bharat Petroleum and Hindustan Petroleum will “at current international crude oil prices lose Rs 177,562 crore in […]
Crude prices rebounded on Wednesday as U.S. gasoline inventories for last week dropped to the lowest level since October 2011. After a severe plunge in the previous trading day, there was also technical request for the rebound. And the report from the U. S. Energy Information Administration (EIA) offered further support for the bounce. According […]
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