Petroleum Prices
Oil prices are trading near their two-year high, but ‘jury is still out’ on recovery in demand
Oil prices hit their highest levels in more than two years, and are expected to end the week with a gain of more than 4%, with traders betting that the recovery in demand this summer will cause crude supplies to tighten. The recovery in demand, however, is not a sure thing. “There are a lot …
Dividends are the next oil catalyst. Here are the actions that could benefit from it.
Text size Oil pump jacks in Cushing, Okla. Photograph by JOHANNES EISELE / AFP via Getty Images Executives in the oil and gas industry now have a clear message: investors want them to become more efficient, not to grow. And they want companies to return more money to shareholders through dividends and share buybacks. Industry …
Higher-than-expected crude draw fuels the rise in oil prices
The American Petroleum Institute (API) on Tuesday announced a drop in crude oil inventories of 5.36 million barrels for the week ending May 28. Analysts had predicted a drawdown of 2.114 million barrels for the week. The week before, API reported a drop in oil inventories of 439,000 barrels after analysts predicted a decline of …
Ringgit strengthens as oil prices continue to rise
KUALA LUMPUR: The ringgit opened slightly higher against the US dollar today as the price of oil continues to strengthen. At 9:02 am, the local currency rose to 4.1250 / 1257 against the greenback at Tuesday’s close of 4.1265 / 1283. ActivTrades trader Dyogenes Rodrigues Diniz said the greenback was trading flat against the local …
Gasoline will cost less tomorrow but it remains an inflation risk
Through Edward West 1h ago Share this article: ShareTweeterShareShareShareE-mailShare AUTOMOBILISTS will benefit from a 10 cents per liter (c / l) drop in the price of 95 ULP gasoline, while refined diesel (0.005% sulfur) will increase by 21c / l due to the effects of the price increase global oil prices and a lower rand …
Oil price hits 2-year high
Oil price hits 2-year highCredit to the private sector; Weekly oil market; inflation gauge; China data What happened? Last week, world crude oil prices rose more than 4% to their highest levels in more than two years. Implications: Rising oil prices will keep the global focus on inflation and, in turn, investors will wonder what …
RBI set to keep benchmark interest rate on Friday, experts say
MUMBAI: Amid concerns about inflation and lingering uncertainty about the second wave of the COVID-19 pandemic, the Reserve Bank of India (RBI) is expected to keep the benchmark interest rate at existing levels during its next monetary policy review, experts believe. The next bimonthly monetary policy review is expected to be announced on June 4, …
Gasoline, diesel prices at record high, gasoline crosses 100 rupees mark in Mumbai, check prices here
Gasoline and Diesel Rates Today in Delhi, Bangalore, Chennai, Mumbai: Fuel Prices Rise in All Subways Gasoline and Diesel Prices Today: Gasoline and diesel prices were increased in all four subways on Saturday May 29. In the national capital, gasoline prices were increased by 26 paise from Rs 93.68 per liter to Rs 93.94 per …
Gasoline crosses 100 rupee mark in Mumbai as fuel prices rise on Saturday
Gasoline Breaks Rs100 In Mumbai As Fuel Prices Rise On Saturday | Photo credit: BCCL Highlights OMCs including BPCL, IOCL and HPCL review fuel prices every morning at 6:00 a.m. Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges Mumbai became the country’s first …
More producer price increases are expected
Through Siphelele Dludla 1h ago Share this article: ShareTweetShareShareShareE-mailShare JOHANNESBURG – PRODUCER prices in South Africa are expected to continue rising in the short term after increasing the most in two and a half years last month. Data from Statistics South Africa (StatsSA) yesterday showed that the Producer Price Index (PPI) for finished manufactured goods …