News

Brent crude oil prices slip below $85/barrel for first time since January

  • Posted by editor
  • On September 29, 2022
  • 0
Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by rising worldwide interest rates and as a surging U.S. dollar limits the ability of non-dollar consumers to purchase crude. Brent crude futures for November settlement slipped $1.35, or 1.57%, to $84.80 a barrel […]

Crude Oil Futures Decline Over 2 pc

  • Posted by editor
  • On July 21, 2022
  • 0
Crude oil Futures in Monday Declined by 2.3 Per cent to Rs.8,123 Pe Barrels As Participants Trimmed Their Positions On low demand. On the Multi Commodity Exchange, Crude Oil For July Delivery Fell By Rs 191 or 2.3 Per Cent To Rs 8,123 Per Barrel With A Business Volume of 4,310 Lots.

Record-high fuel prices are testing the mettle of U.S. consumers, with gasoline at above $4.50 per gallon at some US pumps while diesel retails at above $6.

  • Posted by editor
  • On May 14, 2022
  • 0
The International Energy Agency cautioned on Thursday that soaring pump prices and slowing economic growth are expected to significantly curb the demand recovery through the remainder of the year and into 2023. Economists, meanwhile, warn that the US economy, finally on the path to resilience after the damage wrought by the two-year-long coronavirus pandemic, could […]

Oil rises over 1% as Libya outages add to Russia supply fears

  • Posted by editor
  • On April 19, 2022
  • 0
Oil prices rose more than one percent on Monday, with Brent crude topping $114 a barrel, as outages in Libya deepened concern over tight global supply amid the Ukraine crisis. Brent crude, the global benchmark, rose $1.46 or 1.3 percent to settle at $113.16 a barrel. The contract rose to $114.84 a barrel, its highest […]

Brent crude oil price soars

  • Posted by editor
  • On March 9, 2022
  • 0
The ongoing Russia-Ukraine war has pushed the oil prices to multi-year highs. The price of Brent crude, for instance, rose to $118 per barrel on March 3. As regards its impact, higher crude prices are the major headwinds for various sectors, including the paints industry as oil derivatives such as monomers and titanium dioxide are […]

Budget news

  • Posted by editor
  • On February 3, 2022
  • 1
Customs duty on certain critical chemicals namely methanol, acetic acid and heavy feed stocks for petroleum refining are being reduced, while duty is being raised on sodium cyanide for which adequate domestic capacity exists. These changes will help in enhancing domestic value addition.