Tag: Oil price

Oil prices to remain stable amid various crude supply options: Union Minister Hardeep Puri

According to Puri, global oil supply continues to outpace demand, which should contribute to maintaining a stable market and prices in the foreseeable future.

November 5, 2024

Oil prices surge in global market amid escalating Iran-Israel tensions

The benchmark Brent crude price rose to around $90 a barrel U.S. West Texas hovered at around $85 a barrel.

April 19, 2024

Oil prices not rising despite Middle East tensions as demand wanes

Oil prices spiked last month following US-led strikes on Houthi targets in Yemen in response to repeated attacks on commercial ships in the Red Sea.

February 17, 2024

Drop in global prices a relief for oil import-dependent Indian economy

Volatile oil prices pose a downside risk to the economy as costlier imports trigger an increase in domestic inflation and weaken the rupee as more US dollars are required to make import payments.

December 31, 2023

Oil prices stabilise as Red Sea transport disruptions ease

Brent crude futures inched up 10 cents, or 0.1 per cent, to $79.75 a barrel by 0424 GMT, while U.S. WTI crude futures were trading 5 cents lower at $74.06 a barrel.

December 28, 2023