Oil prices retreat as Goldman Sachs cuts forecasts

Last Updated: Saturday, September 12, 2015, 07:36

Oil prices dropped Friday as the Wall Street bank Goldman Sachs slashed its forecasts for crude prices.

Crude oil may slide to $20 a barrel, warns Goldman Sachs

Last Updated: Friday, September 11, 2015, 23:28

Crude futures fell on Friday after Wall Street`s most influential voice in oil trading, Goldman Sachs, slashed its price outlook through next year, citing oversupply and concerns about China`s economy.

Oil falls more than 2 percent after Goldman cuts forecasts

Last Updated: Friday, September 11, 2015, 17:31

Goldman cut its 2015 Brent price forecast to $53.70 a barrel from $58.20, and said it saw 2016 Brent prices at $49.50, down from its earlier $62 forecast.

Oil weakens as Saudi sees no need for oil summit to defend prices

Last Updated: Friday, September 11, 2015, 08:49

The front-month October contract for Brent, the global oil benchmark, shed 5 cents to USD 48.84 a barrel after it settled up USD 1.31, or 2.8 percent, on Thursday at USD 48.89 a barrel.

China to launch new crude oil benchmark

Last Updated: Thursday, September 10, 2015, 17:43

China plans to launch a yuan- denominated international benchmark for crude oil futures this year aimed at the Asian market, an industry source said Thursday.

Fall in crude prices responsible for dip in exports: Govt

Last Updated: Tuesday, August 25, 2015, 23:18

As merchandise shipments continue to fall since last December, a top official in Commerce Ministry today attributed the declines to sharp fall in fuel prices overseas, which led to a dip in petroleum product exports.

Five key reasons behind falling oil prices

Last Updated: Thursday, August 20, 2015, 10:59

Here are the 5 key reasons of oil price decline.

US crude down 4% to hit 6-1/2-year low on surprise stock build

Last Updated: Thursday, August 20, 2015, 08:59

US crude oil slumped over 4 percent on Wednesday to hit a 6-1/2-year low and almost break below $40 per barrel, as a huge unexpected stockpile build in the United States reinforced concerns about a growing global oil glut.

US oil prices near six-year lows as China weighs

Last Updated: Tuesday, August 18, 2015, 17:04

US oil prices fell towards six-year lows on Tuesday after stock markets tumbled in China, the world`s largest energy consumer, adding to worries about global fuel demand at a time of heavy oversupply.

Oil edges back up to $50 a barrel from six-month low

Last Updated: Tuesday, August 4, 2015, 21:24

Oil recovered to just above $50 a barrel on Tuesday after touching a six-month low in the previous session, although high global production and concern over the economic outlook in China weighed on the outlook.

Oil falls more than 3 after Greek ''No''

Last Updated: Monday, July 6, 2015, 23:50

Oil prices fell more than 3 percent on Monday after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets, adding to concerns about demand at a time of global oversupply.

Oil holds above $64 before US supply report, eyes on Iran

Last Updated: Wednesday, June 24, 2015, 18:27

Oil held above $64 a barrel on Wednesday before a U.S. government report expected to show domestic crude inventories fell for an eighth week, a sign that a supply glut is easing.