Refineries in the path of Tropical Storm Barry continued to operate despite flood threats while the storm has slashed U.S. Gulf of Mexico crude output by 73%, or 1.38 million barrels per day.
Oil prices went down on Tuesday due to weak global data raising concerns about future demand for the commodity despite a positive boost from OPEC’s decision to extend supply cuts Continue Reading »
Oil prices rose by 3% on Wednesday after US government reported a crude stockpile draw four times above expectations. Making it the biggest price drop since September 2016, this could Continue Reading »
Around 10 per cent of Indian oil imports came from the Persian Gulf nation in the year through March, according to government data.
Conflict between Washington and Tehran has stoked fears that shipments passing through the Strait of Hormuz – the world’s busiest oil supply route – could be disrupted.
The president’s first positive remarks on the trade talks in weeks was a boon for oil bulls.
Oil prices saw a recovery on Thursday in Asia after a hike in the previous session after data pointing to an unexpected inventory build last week. US WTI crude futures Continue Reading »
U.S. President Donald Trump vowed on Thursday to slap tariffs on all goods from.
Adding to the trade war fears are worries about a more conciliatory tone toward Iran adopted by Trump this week.
Analysts are concerned that tightening credit amid the economic slowdown will hamper trading in commodities.