US oil rallies second day; WTI up 6.3%

Last Updated: Saturday, August 29, 2015, 00:46

US crude-oil prices surged higher for a second straight day Friday, as investors appeared to view the recent nose-dive as overdone.

Savings on oil will help in funding social security schemes: FM

Last Updated: Friday, August 28, 2015, 22:29

India, which imports close to 80 percent of its oil needs, spent about USD 124 billion in 2014-15 on shipping oil.

'India's oil imports dependence may hit 90% in next 2 decades'

Last Updated: Friday, August 28, 2015, 18:00

India imports 79 percent of its oil needs, and spent USD 138.3 billion on the same.

China jitters, globalization bode ill for Fed's inflation goal

Last Updated: Friday, August 28, 2015, 10:53

The recent market swoons follow a series of other shocks - crashing oil prices, weakness in Europe, the constant deflation threat in Japan - that have held down inflation globally.

US oil jumps more than 10% to $42.56 a barrel

Last Updated: Friday, August 28, 2015, 00:53

US oil prices surged more than 10 percent Thursday, climbing back above $40 a barrel after strong American economic growth data lifted confidence about the world`s biggest economy and petroleum user.

Watch: Should there be a cut in petrol and diesel prices?

Last Updated: Wednesday, August 26, 2015, 22:58

Brent on Wednesday was up 30 cents at $43.51 a barrel by 1300 GMT, and US crude was up 10 cents at $39.41 a barrel.

Oil price near 6.5-year low as China economy fears linger

Last Updated: Wednesday, August 26, 2015, 08:56

Crude oil futures held in a narrow band on Wednesday not far off 6-1/2 year lows after China`s central bank moved to support the country`s stumbling economy, while concerns about a supply glut capped gains.

Without Saudi support, talk of OPEC emergency meeting is just noise

Last Updated: Tuesday, August 25, 2015, 23:16

Once upon a time, talk of an emergency OPEC meeting would have rippled through oil markets, likely triggering at least a brief rally in prices.

Oil rebounds but still near 6-1/2-year lows

Last Updated: Tuesday, August 25, 2015, 22:29

Futures of U.S. crude and Brent, the global oil benchmark, are both down more than 16 percent on the month.

Global market turmoil an opportunity to grow: Arun Jaitley

Last Updated: Tuesday, August 25, 2015, 20:09

Asserting that the global market turmoil was not a cause of "worry" for India, Finance Minister Arun Jaitley Tuesday said the crisis should be converted into an "opportunity" to grow by speeding up the reforms.

BHP Billiton profit dives to 10-year low on commodities rout

Last Updated: Tuesday, August 25, 2015, 15:00

BHP Billiton reported its worst underlying profit in a decade on Tuesday, gutted by plunging iron ore, copper, coal and oil prices, and said it would cut spending more deeply to shore up dividends.

Oil sinks 4%, hits fresh 6-1/2-year low on China

Last Updated: Monday, August 24, 2015, 16:30

Oil prices fell more than 4 percent to fresh 6-1/2-year lows on Monday after Chinese stock markets suffered their biggest one-day drop since the global financial crisis, intensifying worries over the outlook for global oil demand.