Oil prices fell on Monday in volatile trading, ending three days of gains, on fears aggressive U.S. interest rate hikes may lead to a global economic slowdown and dent fuel demand. Brent crude futures for October settlement fell $3.99, or 4.1%, to $92.73 a barrel by 1411 GMT. U.S. West …
Labourers work on the construction site for a school, part of the Iraq-China ‘oil for construction’ deal, in the Sumer neighbourhood of Nasiriyah city, in Iraq (AFP) BAGHDAD: China has gained a major foothold in oil-rich Iraq, shaking up Western domination in fields from energy to construction, even as some warn that infrastructure projects could …
MUMBAI: US government has shared with Indian authorities how sanctioned Russian oil processed in India is making it to US manufacturers. This was revealed by a senior Reserve Bank of India official on Saturday. RBI deputy governor Michael Patra in an event to mark 75 years of Indian independence, spoke about how India is resilient …
India’s Nayara Energy, part owned by Russian oil major RosneftMM, posted a record quarterly profit in April-June as its margins improved due to higher intake of discounted Russian oil and fuel exports. Nayara posted a net profit of about 35.64 billion rupees($447.5 million) in the June quarter compared to a net loss of 1.39 billion …
Business oi-PTI | Published: Saturday, August 13, 2022, 9:12 [IST] India’s top oil and gas producer ONGC on Friday reported a tripling of net profit in the June quarter as it earned record prices before the government slapped a tax on windfall profits arising from a global rally in energy rates. Oil and Natural Gas …
Edible oil imports rose 31 per cent to 12.05 lakh tonnes in July amid a fall in global prices of palm, soyabean and sunflower oils since June, according to industry data. The import of edible oils stood at 9.17 lakh tonnes in the same month last year. In a statement …
By Noah Browning LONDON (Reuters) -Oil prices were down slightly on Friday but set to rise on the week as recession fears eased though an uncertain demand outlook capped gains. Brent crude futures were down 9 cents, or 0.1%, to $99.51 a barrel 0900 GMT, while U.S. West Texas Intermediate …
MUMBAI: India’s palm oil imports in July fell 10% from a month ago, as refiners ramped up purchases of rival soyoil to take advantage of New Delhi’s move to allow duty-free imports of the vegetable oil to calm all-time high prices, a trade body said on Friday. Higher soyoil purchases by the world’s biggest edible …
Stocks to watch today: After the markets notched four-month high in the last session, they are likely to open range-bound on Friday. As of 7:25 AM, the SGX Nifty Futures quoted 17,678 levels, up 19-odd points on the Nifty50. Globally, the US markets were choppy in trade on Thursday. Dow Jones …
Palm oil prices have been volatile thus far in 2022. After hitting a high of 8,200 Malaysian Ringgits per tonne within a week of the Ukraine-Russia war, they slipped to a low of 3,600 Malaysian Ringgits in July, only to bounce back by around 14% in August. …