Diabytes
Brent News
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Oil marketing companies on Monday increased the price of petrol and diesel price by Rs. 0.83/litre & Rs. 1.26/litre respectively with effect from Monday midnight.
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Crude prices dipped on Monday as influential bank Goldman Sachs poured cold water on the prospects of a planned oil producer meeting successfully reining in global oversupply
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Oil prices are likely to recover after 11-year low to USD 55 per barrel from the current USD 34 in 12 months, following gains in the latter half of 2016, according to a report.
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It was the second time in two days for Brent, the global benchmark, to drop below $30 a barrel.
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Brent oil prices tumbled Wednesday below $35 for the first time in 11.5 years, plagued by abundant oversupply and the ongoing row between key producers Iran and Saudi Arabia dimming prospects for production cuts.
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Oil prices edged up in Asia on Thursday, lifted by bargain-hunting following a sharp decline the day before, although analysts said the market remains hobbled by an oversupply of the commodity.
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Oil prices bounced back in Asia on Thursday as investors weighed a rise in US crude inventories and production against a forecast by OPEC's chief of rising demand.
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Buoyant oil prices sustained a rally in Asia on Wednesday driven by hopes the crude supply glut would ease and expectations the US central bank would hold off from raising interest rates.
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Oil prices edged up in Asian trade on Friday following a decline in US crude inventories, although heavier buying was tempered by expectations a return of Iranian crude into the market will further increase global supplies.
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Crude prices fell on Monday with the onset of lower demand autumn trading and as weak economic data out of China and soft gasoline prices pressured the market.
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US crude futures were trading at $44.86 per barrel at 0215 GMT, up 23 cents from their last settlement, pushed by a slight fall in drilling activity.
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US benchmark West Texas Intermediate for October delivery fell 65 cents to USD 43.50 while Brent crude for October dropped 76 cents to USD 46.82 in late-morning trade.
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Japan`s economy shrank an annualised 1.2 percent in April-June, revised GDP data showed on Tuesday, despite ongoing government and central bank measures to support growth.
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US benchmark West Texas Intermediate for October delivery fell 45 cents to USD 45.80 while Brent crude for October slipped 38 cents to USD 50.12 in late-morning trade.
International benchmark Brent crude climbed 10 percent last week but was still heading for its fourth straight monthly decline and has risen in only two of the past 14 months.
US benchmark West Texas Intermediate for October delivery eased 79 cents to USD 44.43 while Brent crude for October fell USD 1.00 to USD 49.05 in late-morning trade.
That came after Brent climbed 10 percent last week, while US crude finished the week up 12 percent.
Brent on Wednesday was up 30 cents at $43.51 a barrel by 1300 GMT, and US crude was up 10 cents at $39.41 a barrel.
Futures of U.S. crude and Brent, the global oil benchmark, are both down more than 16 percent on the month.
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