Oil prices nosedive on signs of oversupply
Benchmark Brent has been trading below 80 for the first time since February Crude prices plunged more than 3 on Monday to multi-month lo
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Benchmark Brent has been trading below 80 for the first time since February Crude prices plunged more than 3 on Monday to multi-month lo
India Business News: NEW DELHI: Tanker and insurance rates have remained unmoved as oil continues to flow amid simmering geopolitical tension between Israel and Iran as fe.
Amid the tussle with producers in the past few years, what worked for consuming countries was the massive release of emergency crude stock, mainly by the US, which partly offset the price impact from Opec supply cuts. With a small emergency reserve, India's support was primarily moral. The lesson is that a sizeable strategic reserve is critical to influencing the global market.
Global consumption of petroleum and other liquids hit a record high last year and is forecast to increase further in both 2024 and 2025, but that does not necessarily mean prices must rise to ensure... -January 14, 2024 at 08:00 pm EST - MarketScreener
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