Oil up 4% as Bulls Storm Back In on Hurricane, Crude Draw and Dollar Drop 

By Barani Krishnan Investing.com — It never rains but it pours.  The saying about a bunch of bad things all happening at once can be applied in the reverse too. Such was the case on Wednesday for oil bulls, who caught a break from their miserable run through most of September as output shut-ins over … Read more

Oil: The ‘R’-Word Rules as U.S. Crude Below $80 for Worst Week in 7

By Barani Krishnan  Investing.com – It’s back, the buzzword most hated by oil longs. Recession, or the ‘R’-word as it has come to be known, was omnipotent across commodity markets on Friday, sending to 2½-year lows while setting up ‘black gold’, or oil, for its worst weekly loss in seven as U.S. crude broke below … Read more

Crude Oil Slumps to Lowest Levels This Year on Recession Fears

By Peter Nurse    Investing.com — Oil prices slumped Friday, falling to the lowest levels this year, weighed by heightened recession fears, which would curb global demand, as well as a surging dollar. By 09:20 ET (13:20 GMT), futures traded 4.6% lower at $79.67 a barrel, while the contract fell 3.8% to $87.01.  The two benchmarks … Read more

Crude Slumps on Demand Fears as Monetary Tightening Looms

By Peter Nurse    Investing.com — Oil prices slumped Monday, falling by more than 3% on fears that slowing global economic growth will weigh on crude demand ahead of likely new large interest rate hikes by a number of central banks, including the Federal Reserve. By 08:35 ET (12:35 GMT), futures traded 3.4% lower at $81.88 … Read more

Crude Oil Lower; Stronger Dollar, Demand Fears Weigh

By Peter Nurse    Investing.com — Oil prices fell Thursday, weighed by a stronger dollar and on expectations of reduced economic activity given aggressive monetary tightening. By 09:35 ET (13:35 GMT), futures traded 2.1% lower at $86.66 a barrel, while the contract fell 2.2% to $92.03.  U.S. were down 3.7% at $2.4317 a gallon. The oil … Read more

Crude Oil Lower After U.S. Inflation Surprise; More Rate Hikes Feared

By Peter Nurse    Investing.com — Oil prices fell Tuesday after stronger than anticipated U.S. inflation figures boosted the dollar on renewed expectations of further aggressive U.S. rate hikes, potentially curbing economic activity. By 09:10 ET (13:10 GMT), futures traded 0.3% lower at $87.56 a barrel, while the contract fell 0.4% to $93.54.  U.S. were up … Read more

Excise duties on petrol, diesel zoomed up despite crude staying below $80

The government’s revenue generation through levy of excise duty saw a growth of 126 per cent between 2014-15 and 2021-22. The income growth was 186 per cent during the same period. According to official data provided by the Petroleum Ministry’s Petroleum Planning and Analysis Cell (PPAC), excise duty on petrol was Rs 9.48 per litre … Read more

Crude Oil Higher on Dollar Weakness; Demand Concerns Grow

By Peter Nurse    Investing.com — Oil prices rose Friday, helped by weakness in the U.S. dollar, but are still on course for their lowest weekly close in seven months on concerns of sluggish economic growth and China’s COVID woes weighing on global demand. By 09:20 ET (13:20 GMT), futures traded 2.8% higher at $85.91 a … Read more