Oil prices rose on Monday after the United States and China outlined a framework for a potential trade deal. The move raised hopes of improved relations between the world’s two largest oil consumers.By 0027 GMT (local time), Brent crude futures were up 46 cents or 0.7%, at $66.40 a barrel. US West Texas Intermediate (WTI) crude rose 46 cents or …
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A months-long calm on Wall Street shattered on Friday after President Donald Trump threatened to sharply raise tariffs on China, triggering a broad market sell-off and pushing the S&P 500 toward its steepest loss since April.The S&P 500 slid 2%, while the Dow Jones Industrial Average plunged 622 points and the Nasdaq composite fell 2.7%, as investor sentiment soured following …
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As the world’s third-largest oil supplier, Russia’s position is significant. (AI image) Taking Russian oil out of the global market would turn the price dynamic ‘upside down’, says S&P Global Commodity Insights co-president Dave Ernsberger. Geopolitical factors are expected to continue influencing oil markets in the coming year, with a complex relationship between policies and prices, according to Ernsberger.“There’s a …
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File photo (Picture credit: AP) Asian markets opened the week on a firm note on Monday, with Tokyo leading gains after Japan’s Prime Minister Shigeru Ishiba announced his resignation, sending the yen lower and boosting exporters. At the same time, oil prices edged higher as Opec+ signalled a slower pace of output increases.Tokyo’s Nikkei index surged 1.9 percent, supported by …
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Asian stock markets showed a mixed performance on Friday, with strong Japanese growth figures offset by weaker Chinese data, while oil prices slipped ahead of a high-stakes US-Russia summit on Ukraine.As per news agency AFP, Japan’s economy expanded by 0.3% in the April-June quarter, surpassing forecasts, while the previous quarter’s output was revised upwards, helping the world’s fourth-largest economy avoid …
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Brent crude prices could climb to $80 per barrel in the coming months amid escalating tensions between the United States and Russia, predicts oil market analysts. The forecast came after US President Donald Trump issued a deadline for Russia to end the war in Ukraine, threatening additional sanctions and secondary tariffs of up to 100% on countries trading with Moscow.NS …
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Oil prices climbed more than 2% on Friday after the International Energy Agency (IEA) said the global market may be tighter than it seems, supported by strong summer demand. Meanwhile, concerns over new US tariffs and possible fresh sanctions on Russia also added upward pressure.Brent crude rose $1.72, or 2.5%, to settle at $70.36 per barrel, while US West Texas …
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Addressing critics of India’s Russian oil imports, Puri noted that certain commentators make unwarranted criticisms of Indian policies. (AI image) India’s ongoing crude oil imports from Russia have contributed to global energy price stability, according to Petroleum and Natural Gas Minister Hardeep Puri. He has said that discontinuing Russian oil trade would have caused crude prices to surge beyond $120-130 …
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Brent Crude prices spiked as much as 5% on Monday following the US airstrikes on Iran’s key nuclear facilities on Sunday. The move ended days of speculation over whether the US President Donald Trump would join Israel in its confrontation with Iran.While prices surged initially, they soon pared gains. The attacks on Fordow, Natanz and Isfahan had led to expectations …
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NEW DELHI: Govt is drawing comfort from its diversified oil purchases but is keeping close tabs on the situation in the Strait of Hormuz, which accounts for nearly a fifth of global oil consumption, in the wake of the US attack on Iran.The Strait – which serves as the primary export route for Persian Gulf producers such as Saudi Arabia, …
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