Showing posts with label Oil Prices. Show all posts
Showing posts with label Oil Prices. Show all posts

Tuesday 11 September 2018

Crude Oil: Something Want to Know


Of late, the Organization of the Petroleum Exporting Countries (OPEC) has been increasing crudeoil production to relieve the worries about high oil prices in the midst of expected supply losses from Venezuela and Iran.
Saudi Arabia is the largest producer and exporter of Crude Oil has been targeting an increase in crudeoil exports to the most transparent market, the U.S, which reports that crudeoil imports and inventory levels every week. However, the Saudis are eyeing to recover their footing in the American market after cutting shipments to the U.S to a thirty-year-low at the end of last year, when OPEC’s efforts to lessen the global oil glut were in its highest level.
Last month, the 4-week average of US crude oil imports from Saudi Arabia went beyond 1 million bpd for the first time since June 2017, as per date of Energy Information Administration.
In the start of the year, the OPEC and associates achieved their undertaking to draw global inventories down to the 5-year average. Although the oil market tightened, Saudi Arabia was still declaring to carry on with the production cut pact until the end of this year, in any case. On the other hand, the United States announced the return of sanctions on Iran, as well as on its oil, Venezuela’s production continued to fall by between range 40,000 bpd to 50,000 bpd every month, outages in Libya and Nigeria continued, and Brent Crude prices hit USD 80 a barrel in May. Stock Market Advice From Experts 

Wednesday 17 May 2017

Sensex, Nifty scale fresh record high, Tata Steel surges 8%


The benchmark indices Sensex and Nifty logged modest gains on Wednesday’s trading led by auto, metal and capital goods stocks. The BSE Sensex rose 76.17 points or 0.25% at 30,658.77, while the Nifty50 index rose 5.75 points or 0.06% at 9,518. Both the Sensex and the Nifty knocked record high levels in late trade. Tata Steel, Tata Motors and ICICI Bank led the riley upward.
Losses were mainly seen in O&G stocks, pharma stocks and consumer durables stocks , while  auto stocks and metal stocks  registered majority of the buying activity. Tata Steel surged as much as 8 percent to Rs 494 after the metal major posted its better than expected earnings. The company’s revenue rose 30.4 percent to Rs 353.05 billion as the company sold more steel products in India.
Indian Oil Corporation is reportedly aiming to invest Rs 200 billion in 2017-18. The company is also looking forward to acquisitions and planning to expand overseas.
Asian stock markets were almost lower with Dow futures tumbling and the safe-haven yen rising despite political and legal chaos surrounding President Donald Trump. The Nikkei-225 index  is down 0.53 percent while China's Shanghai Composite is off 0.27%. European markets are mixed to lower.
The rupee was trading at Rs 64.02 versus the U.S. Dollar  in the afternoon session, while Oil prices were trading at  us dollar 48.71.


Tuesday 2 May 2017

Closing Bell: Sensex, Nifty settle the day flat, Maruti Suzuki shares up 3%

The benchmark BSE Sensex closed flat on Tuesday, in spite of losses were capped as some auto majors rallied after posting rise in April sales. The BSE Sensex closed higher by 2.78 points, or 0.01%, to 29,921.18, while the NSE Nifty closed 9.75 points, or 0.10%, to 9,313.80.
Ambuja Cements Ltd fell about 4.21%. Shares of most Indian auto makers, rose after they reported a jump in April vehicle sales on Monday. Maruti Suzuki Ltd gained 3% to a record high of Rs. 6,730, while Eicher Motors Ltd rose 2.61% to a record high of Rs. 26,747.90.
Oil refiners also rose on account of hikes in petrol and diesel prices. Bharat Petroleum Corporation gained 2.75%, Hindustan Petroleum Corp. advanced about 2.40%, and Indian Oil Corp. climbed nearly 1.87%.
The Bank stocks were on focus at the exchanges in the morning hours wherein Federal Bank was the splendor performer touching an intraday high of Rs 115.3 per share, up by 7.3 percent.

 

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