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Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Oil plunges nearly 8 per cent despite talk of output cut

Brent fell 11.3 per cent and WTI posted a 10.8 per cent decline, the largest one-week drop since January 2016.

24 Nov 2018 4:46 AM GMT

The latest incident comes after the US alleged that Iran used mines to attack four oil tankers off the nearby Emirati port of Fujairah last month. (Representational Image)

Saudi seeks oil supply protection as US and Iran face off

Thursday's tanker attacks in the Gulf of Oman exacerbated the antagonistic fallout from similar blasts in May that...

17 Jun 2019 2:49 AM GMT

Oil prices fell for a second straight session on Monday as coronavirus cases rose. (AFP Photo)

Oil falls in second straight session as virus cools demand

Even as higher oil prices prompt producers to resume drilling, number of operating oil and natural gas rigs dropped to...

29 Jun 2020 3:20 AM GMT

Oil futures dropped on Wednesday after US crude stockpiles grew more than expected. (AFP Photo)

Oil prices slides as US crude stockpile growth heightens oversupply...

Global oil consumption has started to recover as economies emerge from lockdown

24 Jun 2020 4:33 AM GMT

Oil prices fell more than 1% in early trade on Thursday as a spike in new coronavirus cases. (AFP Photo)

Oil prices drop on demand worries as coronavirus cases rise

A rise in US crude stockpiles to a record high for a second week in a row also weighed on sentiment

18 Jun 2020 3:57 AM GMT

Oil prices dipped on Tuesday on jitters that a rise in coronavirus infections. (AFP Photo)

Oil prices drop as coronavirus infections rise

Production from seven major U.S. shale formations is likely to drop to close to a two-year low of 7.63 million barrels...

16 Jun 2020 3:32 AM GMT

Oil drops after US inventory build oversupply concerns. (AFP Photo)

Oil drops after jump in US crude stockpiles, renews oversupply...

Distillate fuel stockpiles, rose by 4.3 million barrels, outpacing expectations for a 3 million barrel increase

10 Jun 2020 3:42 AM GMT

Oil prices climbed on Tuesday as the easing of coronavirus lockdown measures across the globe lifted trader hopes for a swift recovery in demand. (APF Photo)

Oil prices rise as easing of lockdown spurs fuel demand

U.S. crude and gasoline inventories are estimated to have fallen by 1.5 million barrels and about 100,000 barrels...

9 Jun 2020 6:07 AM GMT

Oil prices inch higher, one-month supply cut extension falls short of market hopes. (AFP Photo)

Oil prices inch higher after OPEC+ extends output cuts to end-July

On Saturday OPEC+ agreed to extend the deal by a third month through end-July

8 Jun 2020 3:33 AM GMT

Oil prices dipped on Monday, weighed down by the prospect that a rise in the pace of coronavirus infections could derail a recovery in fuel demand. (AFP Photo)

Oil falls as worsening pandemic threatens recovery

In the US, energy drillers cut the number of oil and natural gas rigs operating to a record for an 11th week in a row

20 July 2020 2:35 AM GMT

Representative Image. (AFP)

Oil prices slip after OPEC, allies agree to loosen supply curbs

OPEC+ agreed on Wednesday to scale back oil production cuts from August as the global economy slowly recovers from the...

16 July 2020 3:23 AM GMT

Oil prices fell more than 2% on Tuesday. (AFP Photo)

Oil prices drop on demand recovery fears, OPEC+ easing expectations

The market will be watching next move from OPEC+ whose Joint Monitoring Committee will meet on Wednesday to recommend...

14 July 2020 6:04 AM GMT