Price war sends crude tumbling, but turmoil to India’s advantage
0 Comments

Oil prices jumped more than 6 per cent on Tuesday, clawing back some ground on hopes that a price war by top producers Saudi Arabia and Russia that sparked the biggest daily rout since the 1991 Gulf War will not be sustained.

US shale producers also rushed to deepen spending cuts and could reduce future production after OPEC’s decision to pump full bore into a global market hit by shrinking demand due to the coronavirus outbreak.

Brent crude futures rose $2.31, or 6.7 per cent, to $36.67 a barrel by 0115 GMT, while US West Texas Intermediate (WTI) crude gained $1.79, or 5.8 per cent, to $32.92 a barrel following declines of nearly 25 percent on Monday.

Price war sends crude tumbling, but turmoil to India’s advantage

Crude oil price to slide in near term: Key things to know

Oil prices rebound 6% after rout, but outlook volatile

Crude oil prices jump 6 per cent after biggest one-day fall since 1991



How crude oil price crash might help India offset Covid-19 economic loss

Oil prices stage partial rebound after biggest drop since 1991

COVID-19, oil prices pulls down RIL’s refining, chemical valuation by $7 billion

Crude Oil Price: सऊदी ने शुरू किया प्राइस वॉर, 1991 के गल्फ वॉर के बाद सबसे बड़ी गिरावट

सऊदी अरब ने छेड़ा ‘प्राइस वॉर’, कच्चे तेल के दामों में 20 फीसदी की गिरावट

पानी से सस्ता हुआ कच्चा तेल, पिछले 29 सालों में सबसे नीचे आया बाजार भाव

Author

rakesh.manzi@gmail.com

Leave a Reply

Your email address will not be published. Required fields are marked *