brent crude oil prices

Week Ahead: Q4 Results, macro data, Israel-Iran conflict, global cues among key market triggers this week

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Week Ahead: Q4 Results, macro data, Israel-Iran conflict, global cues among key market triggers this week

Despite touching fresh lifetime high levels, domestic equity benchmarks settled flat last week as investors’ hope for a June rate cut were dashed by higher-than-expected inflation in the US, compounded by positive US employment and manufacturing data. Escalating geopolitical tensions in the Middle East, alongside supply concerns, have propelled crude oil prices upward, impacting the … Read more

Oil prices report second straight weekly gain, hit 6-month high on Middle-East crisis; Brent at $91/bbl

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Oil prices report second straight weekly gain, hit 6-month high on Middle-East crisis; Brent at $91/bbl

Global crude oil prices reported a second straight weekly gain and hit six-month high levels as markets watched for signs of any direct conflict between Israel and Iran that could further tighten supplies. This sudden uptick in crude oil prices has reignited fears of inflationary pressures and instilled fresh concerns among global central bankers, policymakers, … Read more

Explained | Why are crude oil prices elevated after OPEC+ policy decision and how will it impact India?

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Explained | Why are crude oil prices elevated after OPEC+ policy decision and how will it impact India?

The Organisation of Petroleum Exporting Countries and its allies (OPEC+) conducted its joint ministerial monitoring committee meeting (JMMC) earlier this week and kept the supply policy unchanged till mid-2024, while pressing some oil producing nations to increase the compliance with output cuts.  The April 3 policy decision by OPEC+ led to a spike in international … Read more

Oil prices decline over caution on US Fed interest rates, Iran sanctions; Brent at $88/bbl

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Oil prices decline over caution on US Fed interest rates, Iran sanctions; Brent at $88/bbl

Global crude oil prices dropped on Thursday, April 4, as caution over global macroeconomic activity weighed against the supply output cuts as well as geopolitical conflicts. Investors continue to look to macroeconomic data and monetary policy for potential clues on the outlook for oil demand, while financial sanctions on Iran by the US also capped … Read more

Oil prices surge to five-month high on positive economic news from US and China, brent crude at $87.73/bbl

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Oil prices surge to five-month high on positive economic news from US and China, brent crude at $87.73/bbl

Crude prices saw a modest 1% increase, reaching a five-month peak. This surge was fueled by anticipations of rising oil demand, prompted by upbeat economic updates from both the U.S. and China, on Monday.  Additionally, global supplies faced constraints due to OPEC+ production cuts and assaults on Russian refineries. Brent futures climbed by 73 cents … Read more

FY24 Review | Brent rises nearly 9% in last 12 months on OPEC cuts, Middle-East tensions; Will oil hit $100 in FY25?

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FY24 Review | Brent rises nearly 9% in last 12 months on OPEC cuts, Middle-East tensions; Will oil hit $100 in FY25?

Among other reasons, Ukraine’s drone attack on Russian refineries and OPEC extending its supply cuts till mid-2024 have also dictated the movement of crude oil prices. Overall, the Brent crude’s highest mark achieved in FY24 was $97.69 per barrel in September 2023, after the Israel-Hamas war breakout. The lowest was $71.28 per barrel in May … Read more

Oil prices steady on US crude inventories rise lesser than expected ahead of OPEC meeting; Brent at $86/bbl

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Oil prices steady on US crude inventories rise lesser than expected ahead of OPEC meeting; Brent at $86/bbl

Oil prices were broadly stable on Wednesday, March 27, after US crude stockpile rose lesser than expected and also dragged by indications that the Organization of Petroleum Exporting Countries (OPEC) is unlikely to change its output policy at its technical meeting next week. Crude prices have pared gains since hitting last week to their highest … Read more

Crude oil prices to trade with upside bias over geopolitical tensions; Brent may hit $90-$95/bbl in near-term

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Crude oil prices to trade with upside bias over geopolitical tensions; Brent may hit $90-$95/bbl in near-term

Global crude oil prices rose sharply by 5.9 per cent over the past month crossing the $86 per barrel mark for the first time since November 2023 –responding to seasonal tightening in physical markets, supply cut extensions, and a pick-up in geopolitical tensions. According to a report by ICICI Bank Research, the upside bias is … Read more