Fuel Oil
Fuel oil is a heavy petroleum product derived from the distillation of crude oil, primarily used for heating and power generation. It has a higher flash point t...
Fuel Oil (Virgin 180cST Furnace Oil) in Mundra
₹46.5/KG
0%
3 hours ago
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Fuel Oil Tenders
Daily Market Report
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Crude Oil Prices Surge Amid Geopolitical Tensions and Supply Concerns
Crude oil prices increased by approximately 2%, driven by heightened geopolitical tensions between Russia and Ukraine and potential delays in OPEC+ production increases. Despite weaker global demand, supply disruptions, and geopolitical risks have tightened market conditions.
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Oil Prices Dip Amid China’s Weak Demand and Bearish Market Outlook
Oil prices have declined, driven by weak demand from China and potential supply increases from the U.S. and OPEC+. Brent and WTI futures fell, while the IEA forecasts a supply surplus by 2025. Additionally, U.S. crude inventories rose last week, with gasoline and distillate stocks unexpectedly dropping.
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Crude Oil and Natural Gas Prices Slip Amid Hurricane Disruptions, Demand Uncertainty
Global oil markets are navigating supply shocks and economic shifts as Hurricane Rafael disrupts nearly a quarter of daily oil output in the Gulf of Mexico, while China’s decline in oil imports places downward pressure on prices. A recent U.S. Federal Reserve interest rate cut aims to stimulate demand, balancing out some of the recent market headwinds.
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OPEC+ Supply Uncertainty and Geopolitical Tensions Weigh on Oil Prices
Petroleum prices are climbing, with Brent Crude reaching $74.25 per barrel and WTI at $70.74 per barrel, amid geopolitical tensions and uncertain supply decisions. Demand remains weak due to global economic challenges, and OPEC+ is withholding nearly 5.86 million bpd, with a potential supply increase of 200,000 bpd under review.
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Middle East Tensions and Ceasefire Talks Keep Oil Markets Volatile
Oil prices rose on Friday and are on track for a weekly gain of more than 1%, as tensions in the world’s top oil-producing region, the Middle East, and a restart in Gaza ceasefire talks in the coming days kept traders on edge.
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India Explores Alternatives as Crude Imports from Brazil Decline Amid Russian Dominance
Crude oil prices experienced a slight increase, supported by lower inventories in the US. In India, crude imports from Brazil have been inconsistent, while Russia continues to be the top supplier.
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Oil Prices Rise Amid Middle East Tensions and Hurricane-Driven Fuel Demand
Brent crude futures rose 37 cents, or 0.5%, to $76.95 a barrel, while U.S. West Texas Intermediate futures increased 35 cents, also 0.5%, to $73.59 a barrel at 0034 GMT. MCX crude oil prices opened at 6,210, gaining 1.49%.
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A Decline Noticed in Commercial Crude Oil Inventories
Demand and inventory are a topic of concern for oil amidst refiners in Europe cutting rates due to poor margins. Decreased crude oil inventory in the US is another concern. Check the report below for detailed update on petroleum market update.
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Hurricane Francine Drives Oil Prices Up; IEA Cuts 2024 Demand Forecast Amid China Slowdown
Oil prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana. Brent crude futures rose by 34 cents, or 0.5%, to $72.31 per barrel by 0016 GMT. U.S. West Texas Intermediate crude futures rose by 38 cents, or 0.6%, to $69.35 a barrel. MCX crude oil prices opened at ₹5,830, gaining 0.36%.
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Daily Market Report
Crude Oil Prices Surge Amid Geopolitical Tensions and Supply Concerns
Crude oil prices increased by approximately 2%, driven by heightened geopolitical tensions between Russia and Ukraine and potential delays in OPEC+ production increases. Despite weaker global demand, supply disruptions, and geopolitical risks have tightened market conditions.
Read Story
Oil Prices Dip Amid China’s Weak Demand and Bearish Market Outlook
Oil prices have declined, driven by weak demand from China and potential supply increases from the U.S. and OPEC+. Brent and WTI futures fell, while the IEA forecasts a supply surplus by 2025. Additionally, U.S. crude inventories rose last week, with gasoline and distillate stocks unexpectedly dropping.
Read Story
Crude Oil and Natural Gas Prices Slip Amid Hurricane Disruptions, Demand Uncertainty
Global oil markets are navigating supply shocks and economic shifts as Hurricane Rafael disrupts nearly a quarter of daily oil output in the Gulf of Mexico, while China’s decline in oil imports places downward pressure on prices. A recent U.S. Federal Reserve interest rate cut aims to stimulate demand, balancing out some of the recent market headwinds.
Read Story
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