Crude oil prices are down 26% from their 52-week highs of $98 per bbl and the downtrend will support OMCs in India in terms of improving their refining margins while reducing the cost for paint and tyre companies. Already riding on significant gains, state-run oil companies are staring at another leg of the rally. Paint … Read more
Demand worries amid economic recession fears dragged down oil prices, but losses were limited due to the potential loss of supplies from the Middle East and an unexpected drawdown in US crude inventories.The Asian benchmark Brent crude dropped to a low of $75.05 a barrel last week, its lowest level since January. A similar selloff … Read more
Oil prices were in a holding pattern in early Asian trading on Monday as markets awaited an OPEC+ meeting on June 2 where producers are expected to discuss maintaining voluntary output cuts for the rest of the year. The Brent crude July contract inched up 11 cents to $82.23 a barrel by 0036 GMT. The … Read more
Just weeks ago, it all felt so easy. Jerome Powell was poised to kick off the great monetary pivot in earnest thanks to the steady demise of inflation, while Corporate America’s famous profit machine vindicated the euphoria on Wall Street and beyond. Now after a week of geopolitical tensions and bond volatility, life is getting … Read more
