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Oil & Natural Gas

Oil mixed in Asia, Brent crude nears USD 100

Oil was mixed in Asian trade on Monday amid expectations that prices would soon hit USD 100 a barrel again, analysts said. New York’s main contract, light sweet crude for February delivery, eased two cents to USD 91.52 a barrel and Brent North Sea crude for March delivery was five cents higher at USD 98.43. […]

Oil & Natural Gas

Petrol prices to go up by Rs 2.54 per litre

State-owned oil companies have decided to raise petrol prices from midnight tonight. The rise in the prices range between by 2.50-Rupees to 2.54 per litre. Indian Oil Corp, will raise petrol prices by 2.50 rupees per litre , while Hindustan Petroleum Corp Ltd will hike the rates by 2.54. Bharat Petroleum Corp will raise price […]

Oil & Natural Gas

Oil surges close to USD 100 per barrel

World oil prices leapt to a new two-year high close to USD 100 dollars per barrel today ahead of the Brent contract’s expiry, rebounding in volatile thin pre-weekend trade, analysts said. Brent North Sea crude for delivery in February soared to USD 99.20 in late afternoon deals — touching the highest level since 1st October […]

Oil & Natural Gas

US Presidential Commission investigating oil spill recommends series of wide-ranging reforms

A United States Presidential Commission investigating last year’s catastrophic oil spill in the Gulf of Mexico has recommended a series of wide-ranging reforms. In its final report the commission calls for the creation of an independent safety agency, tougher government regulation and more money and training for federal oil agencies.

Oil & Natural Gas

Mix Oil prices in Asian Trade today

Oil prices were mixed in Asian trade today. New York’s light sweet crude rose six cents to 91.17 dollars a barrel while Brent North Sea crude lost seven cents to 97.54 dollars per barrel. Analysts said the closure of Norwegian oil producer Statoil’s Snorre and Vigdis fields in the North Sea due to a gas […]

Oil & Natural Gas

Deora meets Pranab; seeks release of Rs 10,000cr to oil cos soon

Oil Min Murli Deora on Sat met Finance Min Pranab Mukherjee to seek immediate release of Rs 10,000 crore in interim compensation to state oil companies which are losing Rs 275 crore everyday on selling auto and cooking fuel below cost. “I met Mukherjee here and demanded that the government bear at least 55 per […]

Oil & Natural Gas

Oil rises in Asian trade

Oil prices rose to nearly 89 dollars a barrel today in Asian Markets. Benchmark oil rose 47 cents to 88.85 dollars a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. Analysts said the oil prices rose as traders looked to an important monthly employment report as signs of strengthening […]

Oil & Natural Gas

Oil mixed in Asian trade

Oil prices were mixed in Asia on Thursday, despite a sharp fall in US crude inventories adding to the mood of recovery in the world’s largest oil consumer, analysts said. New York’s main contract, light sweet crude for February delivery, was up 11 cents to USD 90.41 per barrel. Brent North Sea crude for delivery […]

Oil & Natural Gas

Oil down in Asian trade after recent surge

The Bombay Stock Exchange benchmark Sensex shed 50 points in the opening trade on Wednesday, on increased selling by funds and retail investors in tandem with weak Asian markets. Oil was down in Asian trade on Wednesday as investors moved in to take profits following a rally that took the commodity to two-year highs. New […]

Oil & Natural Gas

Oil down in Asian trade

Oil was down in Asian trade on Tuesday after overnight gains but improved confidence over the health of the US economy should limit price declines, analysts said. New York’s main contract, light sweet crude for February delivery, dipped 15 cents to USD 91.40 per barrel. Brent North Sea crude for February was down three cents […]