Petrol price crosses Rs 100/litre mark in Delhi Commodity 

Oil Holds Above $73 as Shrinking U.S. Stockpiles Tighten Market

By Administrator_ India Capital Sands Oil held above $73 a barrel as shrinking U.S. crude and fuel stockpiles added to bullish sentiment around the global demand recovery. Futures in New York were steady after rising 0.3% on Wednesday. Gasoline inventories unexpectedly slipped last week, while crude stockpiles fell for a fifth week, the longest run since January. The declines add to a tightening market as North America, China, and parts of Europe rebound from Covid-19. The recovery has accelerated as vaccinations are rolled out worldwide, boosting fuel consumption and helping to drain…

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Petrol price crosses Rs 100/litre mark in Delhi Commodity 

Oil settles higher on stronger demand outlook as U.S inventories fall

By Administrator_ India Capital Sands Oil prices settled higher on Wednesday as a drop in U.S. crude stockpiles reinforced expectations of improving demand ahead of the peak summer driving season, offsetting worries that a possible return of Iranian supply would cause a glut. Brent settled up 22 cents, or 0.3%, to $68.87 a barrel, and U.S. West Texas Intermediate crude settled up 14 cents, or 0.2%, at $66.21 a barrel. Both benchmarks pared losses after government data showed U.S. crude stocks at the Cushing, Oklahoma, storage hub fell last week to the…

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Oil Up, Fueled by Continuous Increase in U.S. Fuel Demand Commodity 

Oil prices extend gains as demand outlook offsets India concerns

By Administrator_ India Capital Sands Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer offset concerns of rising COVID-19 cases in India, Japan, and Brazil. Brent crude for June edged up 8 cents, or 0.1%, to $67.35 a barrel by 0104 GMT while U.S. West Texas Intermediate crude for June was at $63.98 a barrel, up 12 cents, or 0.2%. OPEC, Russia, and their allies, a group known as OPEC+, stuck to their plans for a gradual easing of…

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