Indian listed airlines had a turbulent flight during the March quarter, what with crude oil prices rising steadily. Yields declined year-on-year (y-o-y) at IndiGo and Jet Airways (India) Ltd.
Rising crude oil prices may worsen the current account deficit (CAD) to 2.5 per cent of the GDP in the current financial year, says a SBI report.
Last week, United States President Donald Trump withdrew from the landmark agreement with Iran. The move roiled the international markets, with global crude oil prices rising to $77 per barrel, against $48 per barrel in June 2017 (Chart 1). The decision is likely to worsen the demand-supply dynamics of the oil market.
Mexican state oil company Pemex returned to profit in the first quarter of the year, it reported Friday, but falling production continued to dog the firm.
With crude oil prices surging higher and hitting a more than 3-year high, shares of oil marketing companies are down sharply on the Indian bourses today.
Oil prices edged lower on Friday but are set for their biggest weekly gains since last July following a jump to a more than three-year high earlier in the week on tensions over Syria and shrinking global oil inventories.
Crude oil on Wednesday held mostly steady as concerns about volatility in global markets offset an unexpected drop in US inventories. Brent crude futures edged down 11 cents to $66.75 a barrel by 0951 GMT, while US West Texas Intermediate (WTI) crude futures eased 12 cents to $63.27 a barrel.
A spike in crude oil prices, which could put Finance Minister Arun Jaitley at a disadvantage as he prepares for his Union Budget, but may prove to be an advantage for Dhamendra Pradhan, Minister for Petroleum and Natural Gas.
Crude oil prices are on the boil again. The spreading of demonstrations in Iran’s second largest city Mashhad and several other urban areas, including capital Tehran, has made investors jittery.
Crude oil prices advanced to their highest level since 2015 before retreating slightly on Monday.