Page 3 - Oil Trade

Saudi Arabia raises oil prices for buyers in Asia, United States

The move signals that the world's biggest crude exporter still sees strong demand in its two main markets

Oil falls as OPEC+ sticks to regular output increase

The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, decided on Thursday to release more oil into the market in January in line with previous months

Explained: How the release of SPR oil is more politics than economics

India agreed to release 5 mn bbl of crude oil from its SPR at an unspecified time

India's crude oil import bill set to breach FY21 tally, say experts

Import bill likely to be a three-year high

Oil prices slip amid expectations of rise in supply, demand concerns

Oil prices slipped on Tuesday as a rebound in COVID-19 cases in Europe raised concerns over demand amid expectation that supply will rise

Singapore files 105 new charges against oil trader Hin Leong founder OK Lim

Hin Leong, one of Asia's largest oil traders, was wound up in March after failing to restructure some $4 billion in debt following a crash in the oil price during the coronavirus pandemic

US accepted lifting all sanctions on oil and shipping, says Iran

Iran agreed in 2015 to curbs on its nuclear programme in return for the lifting of international sanctions

Major traders see oil staying above $70/ barrel, $100 not impossible

Oil prices crashed in April last year when the Covid-19 movement restrictions hit their peak with the U.S. crude benchmark turning negative for the first time.

Oil stocks are the best cyclical, economy reopening bet: Chris Wood

Global markets, according to a note by Goldman Sachs, are currently underestimating the demand for oil

Oil mixed, US crude hits highest since 2019 as refineries restart

Brent futures for April delivery fell 16 cents, or 0.2%, to settle at $66.88 a barrel. The April Brent contract expires on Friday

Oil drops second day as surging coronavirus cases prompt demand worries

CEOs of the world's biggest trading companies are forecasting a weak recovery for oil demand and little movement in prices

With fuel demand falling, Indian Oil bets on plastics to cushion the blow

While there is consumer and govt pressure across the world to reduce the use of plastics, processors in Asia are building or planning petrochemical plants with demand for transport fuels set to ease

China ramps up US oil purchases ahead of trade deal review: Report

China had emerged as a top U.S. crude buyer, taking $5.42 billion worth in 2018 before trade tensions brought flows to a near halt

European banks face indigenous calls to end Amazon oil trade: Report

Fears over the impact of oil extraction in the Amazon were heightened in April when a pipeline ruptured, depriving 27,000 indigenous people of their main water source

Saudi Arabia turns off oil tap for Pakistan over deferred payments

The development comes at a time when Pakistan faces a challenging situation as its IMF programme also remains technically suspended for the past five months

Brent is likely to find support in June in the range of $35-40/barrel

The speed at which the oil market rebounded to $40 per barrel has certainly grabbed attention, but it needs to walk before it can run

China drives global oil demand recovery out of coronavirus collapse

Benchmark oil prices have also bounced back as lockdown measures eased, with Brent futures rallying 50% and US crude futures over 90% since May 1

Oil prices increase ahead of Opec+ meeting on extended output cuts

OPEC+ producers are considering extending their output cut of 9.7 million barrels per day (bpd), about 10 per cent of global production, into July or August

BSE enables negative price trading in crude oil, testing on Monday

Exchange's BOLT Plus trading system has been modified to execute such trades, existing versions of the trading system will also support negative pricing

ICICI Bank confirms exposure to Singapore-based oil trader Hin Leong

The Bank did not elaborate the extent of its exposure and the steps it is taking to protect its interest