Oil holds near 4-month high, logs 3% weekly gain on IEA demand forecast, Ukraine attack; Brent at $83/bbl
9 months, 1 week ago

Oil holds near 4-month high, logs 3% weekly gain on IEA demand forecast, Ukraine attack; Brent at $83/bbl

Live Mint  

Oil prices declined on Friday, March 16, a day after topping the $85 per barrel-mark for the first time since November, but prices settled almost three per cent higher for the week on higher demand from US refiners and the oil demand projections for 2024 by the International Energy Agency. Coming to domestic prices, crude oil futures last settled 0.15 per cent lower at ₹6,730 per barrel on the Multi Commodity Exchange. -US crude oil stockpiles also fell unexpectedly last week as refineries ramped up processing while gasoline inventories slumped as demand rose, said the Energy Information Administration. Contributing to the rise in crude oil prices are the Ukrainian assaults deep within Russia, which have incapacitated approximately 12 per cent of Russia's total capacity for processing oil.

History of this topic

Oil climbs as Assad's fall brings more uncertainty to Middle East
2 weeks, 1 day ago
Oil reports weekly loss on oversupply fears despite OPEC+ output extension; Brent down over 2% in 5 days
2 weeks, 3 days ago
Morgan Stanley, HSBC slash crude oil supply forecast; Brent average pegged near $70 for 2025 after OPEC+ verdict
2 weeks, 4 days ago
Brent nears $93, US WTI ticks higher after OPEC+ pushes back output hike, extends cuts through 2026
2 weeks, 4 days ago
'No surprises': OPEC+ considers extending supply cuts, likely to push output hike till next meeting
Trending News
2 weeks, 5 days ago
Oil ticks higher ahead of OPEC+ verdict; Israel-Lebanon tensions provide support: Brent nears $93/bbl
3 weeks ago
Saudi Arabia boosts crude oil share in Asia at Russia’s expense: Russell
3 weeks, 1 day ago
Oil Little Changed in Thin Trading After OPEC Delays Meeting
Trending News
3 weeks, 4 days ago
Asia’s November crude oil imports nudge higher, still heading for annual fall: Russell
3 weeks, 5 days ago
Oil settles down on strong US supply, losses capped by Ukraine escalation
1 month ago
Oil rises after investors weigh escalation of Russia-Ukraine war amid rise in US crude stock; Brent at $73
1 month ago
As Russia steps up attacks on Ukraine, crude oil prices start rising
1 month ago
Oil sheds 5% in five days on subdued China demand, slow pace of US Fed rate cuts; Brent sits 2% lower to $71
1 month, 1 week ago
Oil heads for weekly loss as Chinese demand continues to underperform
Trending News
1 month, 1 week ago
China's weak oil demand may lead to global surplus of 1 mn barrels: How would crude prices react?
1 month, 1 week ago
IEA lifts 2024 oil demand forecast but trims 2025 projections
1 month, 1 week ago
Russian oil finds its way to Europe via India; India now biggest exporter of fuel to EU
1 month, 2 weeks ago
Oil rises as investors take stock of Trump victory, US crude stocks rise
1 month, 2 weeks ago
Crude oil prices plummet 2.5% on strong US dollar; Brent slips below $74
1 month, 2 weeks ago
Oil hits one-week high on weak dollar ahead of US election results; Brent nears $76/bbl, WTI extends five-day streak
1 month, 2 weeks ago
Oil Prices Rise as Middle East War Rages, but China's Demand Remains a Key Factor
2 months ago
Investors turned more bearish on oil last week than ever
3 months ago
Oil Rebounds After Brutal Week as Traders Take Stock of Outlook
3 months, 2 weeks ago
Russia raises estimates for oil and gas export sales
3 months, 2 weeks ago
Oil stabilises as signs of economic slowdown clash with Fed rate cut hopes; brent crude at $85.09/bbl
5 months ago
Oil sheds China demand worries, gains 1% on weaker US dollar & drop in stockpiles; Brent nears $85/bbl
5 months ago
Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel
5 months, 3 weeks ago
Oil touches seven-week high amid demand optimism, war concerns; brent crude at $85.53/bbl
6 months ago
Oil records longest losing streak in 5 months on hawkish US Fed policy, demand worries; Brent down 2% at $82/bbl
6 months, 4 weeks ago
Crude oil extends decline despite geopolitical tensions; 4 key reasons weighing on prices
7 months ago
Oil set for weekly gain as demand signs, geopolitics seen as positives
7 months, 2 weeks ago
Oil set for weekly gain as demand signs, geopolitics seen as positives
7 months, 2 weeks ago
Oil rises on Saudi Arabia’s decision to hike prices, brent crude at $83.39/bbl
7 months, 2 weeks ago
Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?
7 months, 2 weeks ago
OPEC cuts and geopolitical tensions propel Brent crude up by over 13% in 2024; central banks face inflation challenge
8 months ago
Oil prices decline as risk premium eases following Iran attack; brent crude at $89.64/bbl
8 months, 1 week ago
Oil prices subdued, energy security concerns escalate on West Asia tensions
8 months, 1 week ago
Oil rises over $1 on tighter supply, stays on track for 3rd monthly gain ahead of OPEC decision; Brent hits $87
8 months, 3 weeks ago
Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl
9 months ago
Oil rally cools off as prices slip 2% ahead of US Federal Reserve verdict; Brent down to $85.9/bbl
9 months ago
’My friend...’: Russian FM lauds Jaishankar’s response on oil import
9 months, 2 weeks ago
Oil prices pull back on delayed US Fed rate cuts; Brent down 1% to $82/bbl
9 months, 3 weeks ago
Oil prices slip amid interest rate outlook; Brent crude at $81.42/bbl
9 months, 4 weeks ago
Higher global oil supply set to satisfy demand increase, IEA says
10 months, 1 week ago
Oil rises 1%, heads for weekly gain as Middle East conflict rages
10 months, 2 weeks ago
Oil prices extend over 1% drop ahead of US Fed policy verdict; Brent at $81
10 months, 3 weeks ago
‘Oil markets well supplied’, says IEA as it raises 2024 global demand forecast; projects lower than OPEC
11 months ago
India reduces import of Russian crude oil over pricing
11 months, 1 week ago
Oil extends gains on weaker US dollar, IEA demand upgrade; Brent up 3% to $77
1 year ago

Discover Related