Oil selling resumes as Iraq supply worsens glut
US oil prices recoiled 6 percent on Monday, slipping below the pivotal $30-a-barrel threshold in post-settlement trade, after news that Iraq`s output reached a record last month returned attention to a market glut that sent prices to 12-year lows last week.
Jan 26, 2016, 03:30 AM IST
Oil prices fall 3% on swelling oversupply
Oil prices fell 3 percent on Monday as Iraq announced record-high oil production feeding into a heavily oversupplied market, wiping out much of the gains made in one of the biggest-ever daily rallies last week.
Jan 25, 2016, 22:07 PM IST
Oil gains 8% but set for biggest Jan fall in 25 years
Oil extended its gains and soared about 8 percent on Friday, as a cold snap boosted demand for heating oil and investors took advantage of the lowest prices since 2003 to close out some of their more profitable bets on price declines.
Jan 22, 2016, 18:41 PM IST
Oil prices fall near 2003 lows on oversupply, demand worries
Oil fell on Thursday, dipping back towards 12-year lows on persistent concerns about a supply overhang and the outlook for demand.
Jan 21, 2016, 18:46 PM IST
Oil in unrelenting rout, dives to fresh 12-year low under $27 per barrel
Oil has fallen more than 25 percent so far this year, the steepest such slide since the financial crisis, piling more pain on oil drillers and producing nations alike.
Jan 21, 2016, 09:52 AM IST
Oil prices plunge and stocks hit lowest level since 2014
The price of US crude fell below USD 27 a barrel amid a global glut in oil supplies that seems to be getting worse.
Jan 21, 2016, 04:18 AM IST
US stocks tumble over 2%, joining global rout
US stocks sank more than 2.0 percent early Wednesday, with petroleum stocks diving, joining Asia and Europe in a selloff prompted by sliding oil prices and worries about lower growth.
Jan 20, 2016, 21:28 PM IST
CAD to narrow to 0.5% of GDP in 2016: Report
India's current account deficit may narrow to 0.5 percent of GDP in 2016 from 0.7 percent in 2015 owing to lower commodity prices, particularly oil, says a report.
Jan 20, 2016, 17:38 PM IST
Oil price collapse is a drag on global economy: IMF
The International Monetary Fund said Tuesday that the sharp collapse in the price of oil is proving more of a drag on the global economy than a stimulus.
Jan 19, 2016, 20:52 PM IST
Gulf states unlikely to drop dollar peg: S&P
Gulf states are not expected to drop their long-term monetary link to the US dollar after the sharp drop in oil prices and fiscal reserves, Standard and Poor`s said Tuesday.
Jan 19, 2016, 17:43 PM IST
China's lowest growth for 25 years: What does it mean?
Here are some key points which explain China`s economic transformation and how it affects the rest of the world.
Jan 19, 2016, 14:42 PM IST
Oil slides to lowest since 2003 as Iran sanctions are lifted
Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country at the weekend.
Jan 18, 2016, 08:59 AM IST
Gulf shares slide on oil rout, Iran's return
Share prices in the energy-rich Gulf states nosedived Sunday following the sharp decline in oil prices and the expected rise in Iranian crude exports after the lifting of economic sanctions.
Jan 17, 2016, 14:59 PM IST
Petrol price slashed by 32 paise per litre, diesel by 85 paise
Petrol price was on Friday cut by 32 paise per litre while diesel rate was lowered by 85 paise a litre, on the back of a softening global oil market.
Jan 15, 2016, 18:27 PM IST
Asian shares skid as crude oil plumbs 12-year lows
US crude prices were were last down slightly at $30.47 a barrel, not far from Tuesday`s nadir of $29.93, which was their lowest level since December 2003.
Jan 14, 2016, 09:16 AM IST
Oil prices rebound after falling below $30 per barrel
Oil prices rebounded in Asia Wednesday, halting a plunge that saw crude fall below $30 a barrel for the first time in more than 12 years, but analysts warned of further pressure on the commodity.
Jan 13, 2016, 12:59 PM IST
Oil plunges below $30 per barrel, first time since Dec 2003
Oil plunged below $30 per barrel on abundant crude supplies, as OPEC member Nigeria called for an emergency meeting to address collapsing prices that have ravaged revenues.
Jan 13, 2016, 00:01 AM IST
BP to cut 4,000 jobs amid oil price plunge
The cuts in BP's upstream business globally will include the loss of some 600 jobs in the North Sea.
Jan 12, 2016, 19:53 PM IST
Oil tumbles nearly 5% to new lows; analysts warn of $20s
A brutal new year selloff in oil markets deepened on Monday, with prices plunging as much as 5 percent to new 12-year lows as further ructions in the Chinese stock market threatened to knock crude into the $20s.
Jan 11, 2016, 23:33 PM IST
Oil options lurch closer to $20 per barrel Goldman doomsday forecast
When US investment bank Goldman Sachs said last year that oil could fall as low as $20 per barrel, it assigned a fairly low probability to that scenario.
Jan 11, 2016, 23:24 PM IST
