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Latest Articles in oil prices

Crude Oil Price At $110/barrel Not Sustainable: Hardeep Singh Puri

On the sidelines of WEF, he met Amin H Naseer, President and CEO of Saudi Aramco, the world's largest oil producer

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Fuel Prices Cannot Be Controlled Till India Increases Oil Production: Union Minister Rameswar Teli

"About 83 per cent of oil consumed in the country is imported by us. We are dependent on international market, and till we increase our production, its price cannot be controlled," the minister of state for petroleum and natural gas said

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Oil Prices Climb On Hopes Of China Demand Recovery

Brent crude futures were up $1.15, or 1 per cent, at $113.08 a barrel at 0042 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $1.62, or 1.4 per cent, to $114.02 a barrel, paring some losses after oil prices fell by around 2 per cent in the previous session

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Oil Jumps 4% As U.S. Gasoline Prices Hit Record High

Brent futures rose $4.10, or 3.8 per cent, to settle at $111.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose $4.36, or 4.1 per cent, to settle at $110.49

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Oil Tumbles About 6% As China Covid-19 Lockdowns Weigh

Global financial markets have been spooked by concerns over interest rate hikes and recession worries as tighter and wider Covid-19 lockdowns in China led to slower export growth in the world's No. 2 economy in April

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Oil Falls On China Growth Worries As EU Weighs Russian Crude Ban

China released data on Saturday showing factory activity in the world's second-largest economy contracted for a second month to its lowest since February 2020 because of COVID lockdowns

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Oil Prices Rally On Report That Germany Drops Opposition To Russian Oil Embargo

German representatives to the European Union are no longer objecting a full Russian oil embargo as long as Berlin is given time to secure alternative supplies, the Wall Street Journal reported on Thursday

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India's Oil Import Bill Increases Two-Fold To $119 Bn In FY22

India, the world's third biggest oil consuming and importing nation, spent $119.2 billion in 2021-22 (April 2021 to March 2022), up from $62.2 billion in the previous fiscal year, according to data from the oil ministry's Petroleum Planning & Analysis Cell (PPAC)

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Oil Rebounds As Supply Concerns Dominate

The two main benchmarks had fallen by 5.2 per cent in volatile trading on Tuesday after the International Monetary Fund (IMF) cut its forecast global growth forecast by nearly a full percentage point, citing the economic impact of Russia's war in Ukraine and warning that inflation had become a "clear and present danger" for many countries

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Refinery Margins To Offset Oil Companies' Losses On Holding Fuel Prices: Fitch

The correlation of retail fuel prices with the 15-day rolling average of crude oil prices (reference prices) has remained high at 93 per cent since the onset of the COVID-19 pandemic in January 2020

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Oil Rises As Libya Outage Adds To Supply Woes, Shanghai Prepares To Reopen

The latest supply hit came just as fuel demand in China, the world's largest oil importer, was expected to pick up as manufacturing plants prepared to reopen in Shanghai.

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Oil Prices Hit Near 3-week Highs On Supply Fears Amid Deepening Ukraine Crisis

U.S. West Texas Intermediate futures rose $1.00, or 0.9%, to $107.95 a barrel, having gained to as high as $108.55, the highest since March 30

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Oil Prices Fall As Market Weighs Mixed Supply Signals

Brent futures were down $1.14, or 1.1%, at $107.64 a barrel, while U.S. West Texas Intermediate futures were off $1.32, or 1.3%, at $102.93 a barrel at 0632 GMT

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Oil Rises From 3-week Low As Supply Concerns Linger

International Energy Agency member countries on Wednesday agreed to release 60 million barrels on top of a 180 million-barrel release announced by the United States last week to help drive down prices in a tight market following Russia's invasion of Ukraine but analysts and traders said even with the emergency oil stocks release, supply remained tight

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Oil Extends Rally On Prospect Of Fresh Russia Sanctions

Brent crude futures rose $1.87, or 1.7 per cent, to $109.40 a barrel, while U.S. West Texas Intermediate futures were up $1.83, or 1.8 per cent, at $105.11 a barrel at 11:45 IST

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