Crude Oil

Oil slides after big US gasoline build offsets crude draw

Crude oil futures settled down more than 1 percent on Wednesday after a government report showing an eighth straight weekly drop in US crude stockpiles was offset by a large build in refined products.

Jun 25, 2015, 02:32 AM IST

Saudi Arabia loses spot as top crude supplier to India, China

Saudi Arabia lost its spot last month as India`s top oil supplier to Nigeria for the first time in at least four years, according to ship tracking data compiled by Reuters, as the world`s top crude exporter struggles to maintain market share in Asia.

Jun 24, 2015, 21:39 PM IST

Essar Oil UK gets new long term working capital funding

Essar Oil UK, which owns and operates the Stanlow Refinery in Ellesmere Port, Wednesday said it has finalised a new long term working capital facility to fund purchase of crude oil.

Jun 24, 2015, 18:37 PM IST

Oil holds above $64 before US supply report, eyes on Iran

Oil held above $64 a barrel on Wednesday before a U.S. government report expected to show domestic crude inventories fell for an eighth week, a sign that a supply glut is easing.

Jun 24, 2015, 18:27 PM IST

Oil rises towards $65 on signs glut easing, Iran doubts

Brent crude rose 30 cents to $64.75 a barrel by 0836 GMT. U.S. crude gained 39 cents to $61.40. Both contracts made gains on Tuesday.

Jun 24, 2015, 15:43 PM IST

Oil prices down in Asia

US benchmark West Texas Intermediate for August delivery was down 17 cents at $60.21 a barrel in late-morning Asian trade, and Brent crude for August dropped 14 cents to $63.20.

Jun 23, 2015, 08:43 AM IST

Oil falls on supply glut after earlier boost from Greece

Oil prices fell below $63 a barrel on Monday, weighed down by concerns of a growing supply glut, paring earlier gains spurred by hopes that Greece might avert a default.

Jun 22, 2015, 22:30 PM IST

Oil prices down with eyes on Greece, Iran talks

US benchmark West Texas Intermediate for July delivery fell 10 cents to $59.51 while Brent crude for August eased 13 cents to $62.89 in late-morning trade.

Jun 22, 2015, 09:03 AM IST

Oil down 2% on Greek worries, weaker products markets

Crude oil fell about 2 percent on Friday, the first decline after three days of gains, as worries over the Greek fiscal crisis, weaker oil products prices and pre-weekend profit taking undercut the market.

Jun 20, 2015, 09:19 AM IST

Oil eases below $64, ample supplies and Greece weigh

Oil eased below $64 a barrel on Friday as concern over Greece and a forecast that U.S. shale oil output would keep growing this year countered signs of a pickup in demand.

Jun 19, 2015, 23:43 PM IST

Oil prices ease on US dollar, higher shale output forecast

US crude futures for July shed 7 cents to $60.38 a barrel as of 0009 GMT after closing up 53 cents in the previous session.

Jun 19, 2015, 08:38 AM IST

Oil prices dip on US gasoline stock build

US July crude edged down 16 cents at $59.76 a barrel as of 0140 GMT after falling 5 cents in the previous session.

Jun 18, 2015, 09:18 AM IST

Oil prices up in Asian trade

US benchmark West Texas Intermediate for July delivery gained 10 cents to $60.07 while Brent crude for August added five cents to $63.75 in late-morning trade.

Jun 17, 2015, 09:33 AM IST

Oil prices recover amid Greece, supply worries

US benchmark West Texas Intermediate for July was up 60 cents at $60.12 while the Brent contract for August, a new contract, was up 32 cents at $64.27 in late morning trade.

Jun 16, 2015, 09:18 AM IST

Oil jumps after US stockpile draw; gasoline at seven-month high

Oil rallied for a second straight day on Wednesday, with U.S. crude nearing a one-month high and gasoline hitting its highest price since November, as a big U.S. stocks drawdown boosted the outlook for summer fuel demand.

Jun 11, 2015, 08:56 AM IST

Oil prices up on hopes for big fall in US stocks

Oil prices extended gains today on expectations of a huge decline in US crude reserves, signalling that demand is improving in the world's top economy and a global supply glut could soon end, analysts said.

Jun 10, 2015, 09:39 AM IST

Oil down after OPEC meeting, eyes on Iran talks

Oil prices fell in Asia Monday after OPEC decided to maintain its high output levels, while traders were also weighing the possible return of Iranian supplies that have been curtailed by international sanctions against Tehran, analysts said.

Jun 08, 2015, 09:09 AM IST

OPEC heads towards holding output; oil slips under $60

OPEC headed Thursday towards holding crude output levels on the eve of its production meeting, as oil prices slid back under $60 a barrel on concerns that the expected decision would further fuel oversupply.

Jun 04, 2015, 17:00 PM IST

OPEC to continue pumping oil at current rate

OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year`s shock market therapy has revived demand and knocked back growing competition.

Jun 03, 2015, 20:47 PM IST