Ahmedabad, 29 March ENERGY International crude oil futures gained on Tuesday on supply disruption risks from Iraqi Kurdistan and hopes that banking sector turmoil is contained. The Dollar extended losses on Tuesday and also lent support to oil. Domestic crude oil futures also rose over 1% tracking overseas prices, but a stronger Rupee capped upside….
(27/3/2023) ENERGY International and domestic crude oil futures ended weaker on Friday on worries over European banks and after U.S. Energy Secretary said refilling the country’s Strategic Petroleum Reserves may take several years, dulling demand. • Data from Baker Hughes showed U.S. oil rigs rose 4 units to 593 last week, up for the first…
ENERGY International and domestic crude oil futures settled lower Friday, reversing early gains as banking sector crisis could lead to a recession in turn denting demand. Meanwhile, downside was capped amid supply concerns and oil rigs fell by 1 unit to 589 last week. Data from CFTC showed speculators raised their net long U.S. crude…
ENERGY International and domestic crude oil futures tumbled on Wednesday’s trade on concerns that a crisis in the banking sector could trigger a recession and cut demand. • NYMEX WTI fell over 5%, Brent crude oil prices tumbled over 4%, while domestic crude oil futures fell over 7% on Wednesday. • Adding to the bearishness…
ENERGY • International crude prices fell on Tuesday as lingering concerns about a recession-driven demand downturn offset prospects of tighter global supplies. • Domestic futures also ended weaker on Tuesday’s trade tracking weak global markets. • The Dollar also ended with gains on Tuesday and weighed on prices. • Furthermore, U.S. crude stockpiles have grown…
