Oil prices remained steady on Tuesday as traders awaited signs of increased summer demand that could support prices, despite concerns about ample supply potentially limiting gains. Benchmark Brent crude futures were unchanged at $84.23 per barrel at 1231 GMT, following an increase in the previous session. Meanwhile, U.S. West Texas Intermediate crude futures, which also … Read more
Domestic equity benchmarks recorded the biggest weekly gain of 2024 after a volatile week. The indices began the week hitting all-time highs and rose 3.25 per cent on optimism of a memorable win for the ongoing government. The surprise poll outcome, with the ruling Bharatiya Janata Party (BJP) failing to get an absolute majority on … Read more
Oil prices declined on Thursday, May 23, for the fourth session in a row, as the prospect of higher-for-longer US interest rates raised worries around demand growth in the world’s biggest oil market. High interest rates increase the cost of borrowing, which can slow down economic activity and dampen demand for oil. Brent crude oil … Read more
Brent crude futures fell by $1.21, or 1.45 per cent, to $82.50 per barrel. US West Texas Intermediate crude (WTI) futures for June, slipped by $1.26, or 1.58 per cent, to $78.54. The more active July contract lost $1.09, or 1.37 per cent, to $78.21. The structure of the Brent contract is weakening in an … Read more
The stock market experienced volatility throughout last week, ultimately ending nearly unchanged amid conflicting signals. While the overall sentiment was positive initially, fluctuations in global markets coupled with declines in certain major stocks offset much of the gains. Also Read: US Fed to hold rates at 23-year high-mark until inflation cools, slows pace of balance … Read more
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
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
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
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