Page 39 - Crude Oil Price

Transporters demand reduction in fuel prices amid Covid-19 lockdown

AIMTC said Covid-19 and the lockdown have hit the transport sector adversely, and exerting acute pressure on the sector.

Demand recovery, storage facility ramp up key for sanity in crude oil price

On Monday, the front-month US WTI benchmark crashed into negative territory for the first time ever in history

Oil firms float finished fuel products on Arabian Sea as demand slumps

They're running out of storage space on land and their refineries are running only at 50% of capacity; US Oil futures touch an unprecedented negative pricing

Shale holdings of RIL, GAIL come under pressure amid oil price crash

Though WTI recovered, investment in alternative fuels like shale has become unviable.

OMCs on stronger wicket, oil producers stare at losses as crude plunges

Refiners like Reliance Industries may also see inventory losses adding pressure on already weak refining margins

Explained: What is negative crude future and how does it affect consumers?

The price of a barrel of crude varies based on factors such as supply, demand and quality. Supply of fuel has been far above demand since the coronavirus forced billions of people to stop traveling

Crude oil edges above $0 per barrel, recovers after record wipeout

US crude oil futures collapsed below $0 on Monday, for the first time in history, ending the day at a stunning minus $37.63 a barrel amid coronavirus-induced supply glut

Wall Street drops on oil price crash, earnings anxiety; Dow falls over 1%

Energy stocks shed 1.9% and were on track for their sixth slide in seven sessions as the front-month May US West Texas Intermediate (WTI) contract plunged more than 50%

Boon and bane: 6 ways in which lower oil prices will impact Indian economy

Prices are unlikely to breach the $40-a-barrel, and even when the world has fixed the disease it may double down on kicking its oil habit. Six factors that help and hurt India when oil is in plenty

Gold prices rises 1% as global recession fears trigger flight to safety

US retail sales plunged 8.7% last month, the biggest decline since the government started tracking the series in 1992, while manufacturing output fell by the most in 74 years

Exports fall at fastest pace in 25 years in March amid Covid-19 outbreak

According to data released by the commerce and industry ministry, exports stood at just $21.4 billion in March, as massive broad-based decline plagued all major foreign exchange earning sectors.

Total oil curbs could remove 19.5 mn barrels from market every day: Saudi

The OPEC+ alliance, led by Riyadh and Moscow, agreed on Sunday to slash daily production by 9.7 million bpd over the next two months

OMCs, aviation, paint stocks drop as crude oil prices rise post OPEC+ deal

The group, known as OPEC+, said it had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June.

Oil price war ends with historic OPEC+ deal to cut global crude output

The slash is about 10% of global supply

Mexican standoff throws proposed 10 mn-barrel OPEC+ oil cut in doubt

The cartel, Kuwait and Saudi Arabia say Mexico's refusal to agree blocked the proposed accord

Petrol, diesel demand slumps 66%; ATF down 90% as lockdown hurts business

The country's petroleum product consumption fell 17.79 per cent to 16.08 million tonnes in March as diesel, petrol and ATF demand fell

Brent can jump to $40 by 2020-end; India should stockpile crude oil now

While India will fill its caverns with crude, the lack of space means it's also an opportunity lost.

Covid-19 lockdown: Fuel demand likely to slip 40% in April, says report

India is the world's third-largest energy consumer but the Covid-19 lockdown has shut businesses, suspended flights, stopped trains and brought almost the entire vehicular movement to a halt

India ports at sea: Cargo handling sinks as coronavirus scuttles economies

Cargo handling at major ports grew 2.8% in FY19, but it grew just 1.4% in FY20 till February end

Coronavirus outbreak: India tally jumps to 2,547 with 478 new cases

The number of active cases stands at 2,322, while 162 people were either cured or discharged and one had migrated, the ministry stated.