Oil prices fell on Thursday but stayed within the tight range set this week, with optimism about the summer driving season in the United States and Europe offsetting concerns on demand in India and a potential increase in Iranian supplies. Brent crude had shed 42 cents, or 0.6%, to $68.45 a barrel by 0641 GMT, .
OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday, OPEC sources said, as producers balance expectations of a recovery in demand against a possible increase in Iranian supply.
Oil Futures Settle Higher For 5th Straight Session
WASHINGTON (dpa-AFX) - Crude oil prices moved higher on Thursday, extending gains to a fifth straight session, riding on recent data showing a drop in U.S. crude inventories, strong U.S. employment data and amid optimism about increased demand in the U.S. and Europe.
Oil prices drifted down earlier in the day as traders continued to closely follow the developments with regard to negotiations over the Iran nuclear deal.
West Texas Intermediate Crude oil futures for July ended up by $0.64 or about 1% at $66.85 a barrel.
Brent crude futures were up by $0.43 or 0.63% at $69.16 a barrel a little while ago.
May 27 2021, 3:29 PM
May 27 2021, 3:29 PM
May 27 2021, 3:29 PM
BQ Blueâs special research section collates quality and in-depth equity and economy research reports from across Indiaâs top brokerages, asset managers and research agencies. These reports offer BloombergQuintâs subscribers an opportunity to expand their understanding of companies, sectors and the economy.
BQ Blueâs special research section collates quality and in-depth equity and economy research reports from across Indiaâs top brokerages, asset managers and research agencies. These reports offer BloombergQuintâs subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
We tweak our FY22/23E estimates for Bharat Petroleum Corporation Ltd., as we incorporate actual FY21 numbers and factor in Numaligarh Refinery Ltd. stake sale.