International crude oil prices rebounded on Wednesday, October 30, rising more than two per cent after data showed US crude and gasoline inventories fell unexpectedly last week and on reports that the Organisation of Petroleum Exporting Countries (OPEC) will likely delay its planned oil output increase. After falling more than six per cent earlier in … Read more
International crude oil prices have been on a broader downtrend and crashed nearly 20 per cent in the last 12 months due to a demand-supply imbalance in the market, even as the Organisation of Petroleum Exporting Countries and its allies (OPEC+) eye price stability. Brent and US West Texas Intermediate (WTI) crude futures logged the … Read more
International crude oil prices edged up about one per cent from a 14-month low level on Thursday, September 5, driven by a bigger-than-expected withdrawal from US inventories and a delay to hike supply by the Organisation of Petroleum Exporting Countries and its allies (OPEC+). Chinese demand fears and resolution to the Libya deal led to … Read more
International crude oil prices continued their bearish trend and fell by $1 a barrel or around two per cent on Wednesday, September 4, dragged by pessimism about demand fears after after reports emerged that a deal was in the offing to resolve a dispute that has halted Libyan production and exports. Brent crude futures were … Read more