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Oil is unsteady following a near-6% drop due to economic concerns0
- Commodity
- June 20, 2022
Early on Monday, oil prices fell as investors refocused on tight supply, however, the mood remained shaky following a 6% drop the previous day on fears about slowing global economic growth and fuel demand. Brent oil futures were up 20 cents, or 0.2 percent, to $113.32 a barrel at 0105 GMT, after jumping as high
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On strong US demand and China optimism, oil is hovering near a 13-week high0
- Market
- June 9, 2022
On Thursday, oil prices remained at 13-week highs, supported by strong demand in the world’s largest consumer, the United States, while demand in China is likely to increase as COVID-19 limits in key cities are eased. By 0033 GMT, Brent oil futures had risen 12 cents to $123.70 a barrel, while U.S. West Texas Intermediate
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Despite global supply concerns, oil remains around a two-month high0
- Commodity
- May 27, 2022
On Friday, oil prices were hovering around a two-month high, with Brent crude on track for its greatest weekly gain in 1-1/2 months, boosted by the potential of an EU ban on Russian oil and the start of the summer driving season in the US. Brent crude futures for July fell 9 cents to $117.31
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Oil prices are rising as demand grows and supply tightens0
- Commodity
- May 25, 2022
Oil prices surged in early trade on Wednesday, buoyed by limited supplies and the expectation of increased demand as the US summer driving season approaches. By 0020 GMT, Brent crude futures had risen 46 cents, or 0.4 percent, to $114.02 per barrel. WTI crude futures for July delivery in the United States were up 58
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Even as reduced demand threatens to limit increases, oil prices continue to rise1
- Business
- May 13, 2022
Early Friday trade saw oil prices rise, but they were poised for their first weekly losses in three weeks as concerns about inflation and China’s COVID lockdowns slowed the global economy, outweighing concerns over declining Russian fuel supplies. At 0008 GMT, Brent crude prices were up 97 cents, or 0.9 percent, at $108.42 a barrel,
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In FY22, India’s oil import cost more than doubled to $119 billion.0
- Economy
- April 25, 2022
In the fiscal year that ended on March 31, India’s crude oil import bill then doubled to $119 billion, as global energy prices skyrocketed following the restoration of demand and the crisis in Ukraine. According to data from the energy ministry’s Petroleum Planning & Analysis Cell, India, the world’s third-largest oil consumption and importing nation,
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