Oil rises on ideas OPEC+ may halt supply surge amid Omicron fears

TOKYO: Prices rose on Thursday, reversing the previous day’s losses, on hopes OPEC+ could halt supply growth amid growing concerns the spread of the Omicron coronavirus variant could weigh on the global economy and fuel demand. US West Texas Intermediate (WTI) crude futures rose 48 cents, or 0.7%, to $66.05 a barrel after falling 0.9% … Read more

Oil slips as US-led crude oil release waits for OPEC+ response

MELBOURNE: Prices rose on Thursday with investors waiting to see how major producers respond to emergency crude releases by major consuming countries designed to cool the market, even as data pointed to healthy US fuel demand. US West Texas Intermediate (WTI) crude futures were down 11 cents on Wednesday, down 9 cents, or 0.1%, to … Read more

Oil falls on deal expected to tap emergency crude reserves

MELBOURNE: Oil prices tumbled on Tuesday, reversing gains in the previous session, with the United States, Japan and India releasing crude stockpiles to prop up prices despite the threat of demand as the COVID-19 hit Europe. Matters have flared up. The US Department of Energy is expected to announce a loan of from the Strategic … Read more

Oil hits 7-week low on expectations of release of supplies, Europe Covid surge

MELBOURNE: Crude fell to a seven-week low on Monday, extending the fall after the previous session’s slide, on concerns about excess supplies by Japan as it was releasing oil reserves and worsening COVID-19 in Europe. -19 was more than demand from the situation. Brent was down 57 cents, or 0.72%, at $78.32 a barrel by … Read more

Growth capital demand back, pipeline strong: Amrish Baliga

Amrish Baliga, managing director and head of finance, Deutsche Bank India, said demand for growth capital has returned amid a strong pipeline in public and private lending. In an interview, he said China’s Evergrande crisis has created volatility in loan markets globally, prompting Indian borrowers to take a wait-and-watch approach. Edited excerpt: How does the … Read more