Crude oil prices tumbled on Friday, with Brent crude falling to $67.48 per barrel—its lowest level in a year—before recovering slightly to $67.57 at 02:45 PM IST. WTI crude also slumped to $64.23 per barrel, matching its 52-week low. The slide in oil prices was triggered by a larger-than-expected supply increase from OPEC+, which announced […]
Citi forecasts gold surge to $3,500 amid tariff uncertainty, copper and oil prices in focus – CNBC TV18
Gold prices are expected to rise further, with Citi projecting a continued upward trajectory in the coming months. Max Layton, Global Head of Commodities at Citi, said that the key factors supporting the ongoing bull market remain unchanged. Layton said, “In our base case, gold prices are expected to reach $3,200 per ounce over the […]
OPEC cuts global oil demand projections for 2024 and 2025 in latest revision – CNBC TV18
OPEC (Organization of the Petroleum Exporting Countries) has lowered its 2024 forecast for global oil demand growth, marking its third consecutive downward revision. In its latest monthly report, the organisation projected a rise of 1.93 million barrels per day (bpd) in 2024, down from the 2.03 million bpd it forecast last month. The revision reflects […]
Oil prices spike after Iran’s attack on Israel: Is a petrol price cut in India still possible? – CNBC TV18
Oil marketing companies (OMCs) had strong marketing margins of ₹10-11 per litre up until September 30, making a ₹3-4 per litre fuel price cut manageable, says Probal Sen, energy analyst at ICICI Securities. Sen said OMCs margin needs to stay at ₹5-6 per litre to compensate for the lower-than-normal gross refining margins (GRMs), which are […]
Exclusive interview | Oil Minister Hardeep Singh Puri: Green hydrogen is future fuel – CNBC TV18
Hardeep Singh Puri, Minister of State for Petroleum and Natural Gas, provided a comprehensive overview of the current energy landscape, at the India Energy Transition Summit. The minister welcomed the recent fall in crude oil prices and OPEC’s decision to avoid further production cuts, which provide relief to major oil-importing nations like India. Puri also […]