The global benchmark rose on Wednesday to its highest since May 22 at ..The International Energy Agency on Thursday warned that although the oil market was tightening at the moment and world oil demand would reach 100 million barrels per day (bpd) in the next three months, global economic risks were mounting.Tokyo: Oil on Friday clawed back some of its losses from the previous session, when prices fell the most in a month, as concerns about oil supply are countering worries that emerging market crises and trade disputes could dent demand.Brent is heading for a 1.8 per cent gain this week, while WTI meltblown extruder screw is on track for a 1.26 a barrel by 0338 GMT, after falling 2 per cent on Thursday.13.9 million barrels per day last week as the industry faces pipeline capacity constraints.2 per cent, at 68.

China will not buckle to US demands in any trade negotiations, the major state-run China Daily newspaper said in an editorial on Friday, after Chinese officials welcomed an invitation from Washington for a new round of talks.Still, supply concerns are supported by data showing that US crude production fell by 100,000 bpd to 10.Though weekly output slipped, the United States likely surpassed Russia and Saudi Arabia earlier this year to become the world’s largest crude oil producer, based on preliminary estimates from the Energy Information Administration.“As we move into 2019, a possible risk to our forecast lies in some key emerging economies, partly due to currency depreciations versus the US dollar, raising the imported energy,” the agency said.US West Texas Intermediate (WTI) futures were up 18 cents, or 0.

The loss of ***ian oil to the market as refiners are cutting or halting purchase ahead of US sanctions in November is also raising concerns about supply.“In addition, there is a risk to growth from an escalation of trade disputes,” the Paris-based agency said.1 per cent, at .Brent crude was up 8 cents, or 0.US President Trump said on Twitter on Thursday that the United States holds the upper hand in talks.76 a barrel, after dropping 2.Although the EIA does not publish crude production forecasts for Russia and Saudi Arabia in its short term outlook, it expects that US output will continue to exceed Russian and Saudi production for the remaining months of 2018 and through 2019.“We are under no pressure to make a deal with China, they are under pressure to make a deal with us,” Trump tweeted.5 per cent on Thursday.“Prices remain well supported as the market continues to fret about ongoing structural supply issues elsewhere,” ANZ Research said in a note.5 per cent increase

Under the daily price revision mechanism, OMCs have reduced the price of diesel by just over Rs 3 per litre from Rs 75. This still means current petrol and diesel rates are higher by at least Rs 3 per litre.31 a litre now. And this continuing high price of auto fuels is despite the government reducing excise duty on the two petroleum products by Rs 1.Officials of OMCs, however, diغير مجاز مي باشدree over higher cuts in retail price of petrol and diesel, saying the current scenario should be viewed in the context of sharp fall in rupee against dollar, making oil purchases expensive. Similarly, petrol price has fallen from Rs 82.“It seems state-owned oil marketing companies (OMCs) are making up for the losses they incurred last month while absorbing the Rs 1 per litre increase in petrol and diesel prices under a government order.

New Delhi: Despite crude oil prices falling by over 20 per cent in the last one month, the common man continues to pay high prices for petrol and diesel. The US waiver for oil imports from the Islamic nation to major oil importers has eased the situation.Between April and now, rupee has depreciated from about Rs 66 to a dollar to about Rs 73 now. Interestingly, even during this period when global oil prices have dropped consistently, OMCs have held back retail price revision on few occasions to make up any earlier losses and build buffer for future when oil prices are expected to jump again to per barrel.50 a litre early last month. At this level of crude in April this year, petrol was being retailed between Rs 73 and Rs 74 a litre and diesel between Rs 65 and Rs 66 a litre in Delhi.56 a litre and diesel at Rs 72.56 now.31 per litre in Delhi when crude oil price of Indian basket is about a barrel.Petrol is being retailed at Rs 77.69 a litre on October 16 to Rs 72.

This is gross injustice for the consumers who have braved historically high levels of auto fuels when global oil prices were rising till early October.83 a litre on October 16 to Rs 77.The benchmark Brent oil prices have fallen below a barrel now, but analysts expect prices to rise again if oil cartel OPEC decides to cut production to balance the market. Ideally, petrol and diesel prices should have been lower by at least Rs 5 a litre than the current levels,” said a top official of a oil producing company, asking not to be named.Oil prices have fallen by over 20 per cent in the last one month due to easing of supply pressures, particularly from ***. Even if this depreciation is taken into account, experts say the retail price gets impacted by about Rs 3 per litre. While the Indian basket of crude has been hovering below the a barrel mark for Wholesale Flat twin screw extruder Manufacturers the last fortnight, there has been less than proportional decrease in retail prices of petrol and diesel with oil companies building a cushion for possible increase in oil prices later this year.. But analysts believe that once *** oil exports start getting wiped out completely from next year, there could be supply issues that could fuel oil price rise

The dollar index, which tracks the US currency against a basket of six major rivals, was trading marginally down 0.60 points at 9,360.64, while broader Nifty was down 25. The domestic currency had yesterday slumped by a whopping 34 paise to end at a fresh seven-week low.91 from Tuesday&wholesales PC-PE-PET-PEX online39;s closing value of 64..8586 and for the euro at 72.The flagship Sen*** fell 63.In the international commodity front, crude prices staged a rebound on expectation that OPEC producers will signal an extension of the production cut to drain global oversupply. In worldwide trade, the US dollar was trading a little firmer on some follow-through buying as comments from a senior Federal Reserve official rekindled expectations of possible US interest rate hike in June.In cross-currency trades, the rupee rebounded against the pound sterling to close at 83.19.

Mumbai: The rupee today reclaimed some lost ground by rebounding 16 paise to 64.61 points to end at 30,301.19 per pound and recovered against the euro to settle at 72.5 paise from 281-283 paise on Tuesday.90 per 100 yens from 58. The benchmark Brent crude oil was up 25 cents a barrel at USD 54.90 earlier.53 crore yesterday.40 in early Asian trade. It also regained sharply against the Japanese yen to finish at 57. After hitting a fresh low of 64.Commodity-related currencies like the Australian and New Zealand dollars remained under pressured after Moody's downgraded its credit rating for the world's second-largest economy China.09 per cent at 97.5-280.43 as compared to 72.The rupee today opened # lower at 64.In forward market today, premium for dollar continued to trade subdued due to persistent receivings from exporters.The Organisation of the Petroleum Exporting Countries (OPEC) ministers and other producers were meeting on Thursday.89 at the forex market on sustained dollar demand.33 yesterday.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 400.72 before ending at 64.55.The RBI, meanwhile, fixed the reference rate for the dollar at 64.73 following fresh bouts of dollar selling by banks and exporters. The benchmark six-month premium payable in October edged lower to 131-132.73, revealing a good gain of 16 paise, or 0. Robust capital inflows into the equities and debt largely supported the recovery momentum where as local markets witnessed continued sell-offs.25 per cent. Meanwhile, bourses succumbed to heavy profit-taking for the second straight session led by frontline heavyweights even as sentiment remained volatile amid escalating tensions on the border adjoining Pakistan.However, risk events ahead kept overall forex trading mood bit nervous and cautious with investors looking to the minutes of the latest FOMC meet later in the day amid strength in the greenback.94 from 84.96 in late morning deals, the local unit recouped smartly towards the fag-end trade session and recaptured an intra-day high of 64.5 paise from 132-134 paise and the far forward April 2018 contract also moved down to 278.4730