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
The hardline US National Security Adviser John Bolton has issued a warning to India against buying Venezuelan oil, saying it “will not be forgotten” and that Venezuela’s Foreign Minister Jorge Alberto Arreaza has countered that it was an attempt to impose Washington’s global “dictatorship”.
Legislation that would allow the US government to sue Opec for inflating oil prices cleared a key hurdle in the new session of Congress.
North America headquartered EDF Renewables today announced its Indian arm has signed a long-term agreement to develop 300 Megawatt (Mw) of wind project in partnership with the UK-based SITAC Group.
India is in talks with the United States to extend a waiver on sanctions imposed on Iran’s crude oil exports, a senior Indian official said on Thursday.
India’s state-owned gas distribution company Gail has flooded the liquefied natural gas (LNG) market this month with offers to sell cargoes from the U.S. Gulf due to a shortage of tankers available to ferry to fuel to India.
Indian Oil Corp, the country’s top refiner, is looking for an annual deal to buy US crude as it seeks to broaden its oil purchasing options, its chairman said on Wednesday, amid uncertainties over imports from Iran.
Oil prices fell on Monday after U.S. energy firms added rigs for the first time this year in a sign that crude production there will rise further. U.S. spot crude oil futures were at $53.37 per barrel at 0027 GMT, down 32 cents, or 0.6 percent, from their last settlement.
Oil prices extended falls from the previous session on Wednesday, as concerns of an economic slowdown weighed on markets. US West Texas Intermediate (WTI) crude futures were at $52.74 per barrel at 0024 GMT, down 27 cents, or 0.5 percent from their last settlement.
American oil to ease India’s oil dependency on Gulf countries? India-US oil supply contracts on cards but price a hurdle
In order to ensure a steady inflow of crude oil given that supply from Iran has been capped, the country’s oil marketing companies are looking at long-term contracts with US suppliers, but non-availability of official selling price (OSP)