Oil prices briefly hit a three-month high on Tuesday, boosted by falling exports from Saudi Arabia. Investors also continued to monitor trade talks between the U.S. and China for their implications for global growth.
Oil prices inched up on Thursday, buoyed by hopes that potential progress in the latest Sino-US tariff talks would improve the global economic outlook. US West Texas Intermediate (WTI) crude futures were at $53.76 per barrel at 2338 GMT
Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although surging U.S. production and concerns over economic growth kept markets in check.
Prime Minister Narendra Modi today said there is a need to move towards responsible pricing of Oil and Gas to balance the interests of both the producer and the consumer. He was inaugurating the 13th International Oil and Gas Conference – PETROTECH-2019 in Greater Noida.
Oil markets fell on Friday, pulled down by worries over a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support.
Oil prices fell on Tuesday, pulling back from two-month highs as concerns over a global economic slowdown crept back into the market and a stronger dollar also weighed. Prices sagged a day after the release of weak U.S. factory
US oil prices inched up on Tuesday, buoyed by expectations of tightening global supply amid US sanctions on Venezuela and production cuts led by OPEC.
Credit rating agency Moody’s Investors Service today said there are risks of India breaching the 3.3 per cent fiscal deficit target for the current financial year as higher oil prices will add to short-term fiscal pressures.
Oil prices were stable on Tuesday, pressured by a cloudy outlook for the global economy but supported by worries over disruptions to supply from US sanctions on Venezuelan exports.
Rupee on Tuesday opened on a weak note against the US dollar on account of rising oil prices as the US government imposed sanctions on Venezuela. The domestic currency opened at 71.13 and hit a high and a low of 71.13
