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OfBusiness Petroleum Daily Market Report | 27th May 2024
Petroleum
Daily Market Report
27 May

OfBusiness Petroleum Daily Market Report | 27th May 2024

The Brent crude July contract inched up 11 cents to $82.23 a barrel by 0036 GMT. The more-active August contract rose 13 cents to $81.97. U.S. West Texas Intermediate (WTI) crude futures rose 13 cents to $77.85. MCX Crude oil prices opened at 6490 with a gain of 0.29%.
What is OPEC+ and how does it affect oil prices?

What is OPEC+ and how does it affect oil prices?

OPEC+, a collective of oil-producing countries, crucially influences global oil output and prices. India, a significant oil importer, faces fiscal pressures with price hikes, impacting its inflation and overall economic stability.
Colombia Aims to Boost Oil Production to 1 Million Bpd

Colombia Aims to Boost Oil Production to 1 Million Bpd

Colombia aims to boost oil production to 1 million barrels per day (bpd) by revitalizing "lazy contracts" from a decade ago. This strategy could potentially increase production to 800,000 bpd by year-end.
Oil Prices Set for Another Weekly Loss as Traders Focus on U.S. Interest Rates

Oil Prices Set for Another Weekly Loss as Traders Focus on U.S. Interest Rates

Amid focus on U.S. interest rates, oil prices are set for another weekly loss trading at three-months lowest levels. Fed officials hint current rates are necessary to curb inflation, and some suggest potential hikes.
OfBusiness Petroleum Daily Market Report | 24th May 2024
Petroleum
Daily Market Report
24 May

OfBusiness Petroleum Daily Market Report | 24th May 2024

Globally, West Texas Intermediate (WTI) crude oil traded 0.28 percent lower at $77.35 per barrel, while Brent crude was trading 0.20 percent lower at $81.74 per barrel in New York.
OfBusiness Petroleum Daily Market Report | 23rd May 2024
Petroleum
Daily Market Report
23 May

OfBusiness Petroleum Daily Market Report | 23rd May 2024

WTI July contract: $77.57 a barrel, down $1.09, or 1.39%. Year to date, U.S. crude oil has gained 8.2%. Brent July contract: $81.90 a barrel, down 98 cents, or 1.18%. Year to date, the global benchmark is up 6.3%. MCX Crude oil prices opened at 6447 with a fall of 0.69%.
OfBusiness Petroleum Daily Market Report | 22nd May 2024
Petroleum
Daily Market Report
22 May

OfBusiness Petroleum Daily Market Report | 22nd May 2024

Brent crude futures were down 43 cents, or 0.5%, to $82.45 a barrel. U.S. West Texas Intermediate crude (WTI) futures slipped 50 cents, or 0.6%, to $78.16. Oil prices settled about 1% lower on Tuesday. MCX Crude oil prices opened at 6503 with a fall of 0.99%.
OfBusiness Petroleum Daily Market Report | 20th May 2024
Petroleum
Daily Market Report
20 May

OfBusiness Petroleum Daily Market Report | 20th May 2024

Brent gained 10 cents, or 0.1%, to $84.08 a barrel by 0454GMT, after rising to $84.30 earlier, its highest since May 10. U.S. West Texas Intermediate (WTI) crude for June edged down 5 cents to $80.01 a barrel, after hitting $80.23 earlier, the highest since May 1.
OfBusiness Petroleum Daily Market Report | 18th May 2024
Petroleum
Daily Market Report
18 May

OfBusiness Petroleum Daily Market Report | 18th May 2024

Globally, West Texas Intermediate (WTI) crude oil was up 0.37 percent to $78.92 per barrel, and Brent crude traded 0.35 percent higher at $83.04 per barrel in New York. On MCX, crude oil for May delivery traded higher by Rs.36 or 0.55 percent at Rs.6587 per barrel in 6137 lots.
OfBusiness Petroleum Daily Market Report | 17th May 2024
Petroleum
Daily Market Report
17 May

OfBusiness Petroleum Daily Market Report | 17th May 2024

On MCX, crude oil for May delivery traded higher than Rs.36 or 0.55 percent at Rs.6,587 per barrel in 6,137 lots. Analysts said the raising of bets by participants kept crude oil prices higher in futures trade. 

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