Oil Reserves

Oil prices settled higher on Tuesday, with Brent crude ending the session near $80 a barrel despite the rapid spread of the Omicron coronavirus variant.

India's benchmark 10-year bond yield rose to its highest level since April last year as investors grew cautious of the heavy government debt pipeline, rise in global oil prices, and lack of support from RBI

The United States said it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to try to cool prices after OPEC+ ignored calls to pump more.

Petrol and Diesel Prices Today: Fuel prices remained stable for the 24th consecutive day across four metros

Brent crude prices have also priced in an additional hit to global oil demand of 1.5 million barrels per day for the next three months from the impact of COVID-19 in Europe and China, Goldman said.

Brent futures rose $2.61, or 3.3%, to settle at $82.31, while U.S. West Texas Intermediate (WTI) crude rose $1.75, or 2.3%, to settle at $78.50.

The government official said the release from India's strategic petroleum reserve (SPR) was "a symbolic gesture" as it needed to create space as part of efforts to make money from renting out the storage and was already selling the oil.

The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices.

Oil edged higher as a planned coordinated release of strategic reserves by the U.S. and other nations fell short of expectations.

President Joe Biden said Tuesday that the release of strategic oil reserves by the United States and other major consumers will "make a difference" for Americans anxious about fuel prices.

US will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the U.K - a coordinated attempt by the worlds largest oil consumers to tame prices

India has decided to release 5 million barrels of crude oil from its strategic petroleum reserves (SPRs) simultaneously with countries like the US, Japan, China, Britain and Republic of Korea with the aim of bringing down its prices.

The crypto bill seeks to create a facilitative framework for the creation of an official digital currency to be issued by the Reserve Bank of India

Japanese and Indian officials are working on ways to release national reserves of crude oil in tandem with the United States and other major economies to dampen prices, seven government sources with knowledge of the plans told Reuters.

The request came after the US government was unable to persuade OPEC+ to pump more oil with major producers arguing the world was not short of crude

Oil prices settled higher on Tuesday, with Brent crude ending the session near $80 a barrel despite the rapid spread of the Omicron coronavirus variant.

India's benchmark 10-year bond yield rose to its highest level since April last year as investors grew cautious of the heavy government debt pipeline, rise in global oil prices, and lack of support from RBI

The United States said it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to try to cool prices after OPEC+ ignored calls to pump more.

Petrol and Diesel Prices Today: Fuel prices remained stable for the 24th consecutive day across four metros

Brent crude prices have also priced in an additional hit to global oil demand of 1.5 million barrels per day for the next three months from the impact of COVID-19 in Europe and China, Goldman said.

Brent futures rose $2.61, or 3.3%, to settle at $82.31, while U.S. West Texas Intermediate (WTI) crude rose $1.75, or 2.3%, to settle at $78.50.

The government official said the release from India's strategic petroleum reserve (SPR) was "a symbolic gesture" as it needed to create space as part of efforts to make money from renting out the storage and was already selling the oil.

The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices.

Oil edged higher as a planned coordinated release of strategic reserves by the U.S. and other nations fell short of expectations.

President Joe Biden said Tuesday that the release of strategic oil reserves by the United States and other major consumers will "make a difference" for Americans anxious about fuel prices.

US will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the U.K - a coordinated attempt by the worlds largest oil consumers to tame prices

India has decided to release 5 million barrels of crude oil from its strategic petroleum reserves (SPRs) simultaneously with countries like the US, Japan, China, Britain and Republic of Korea with the aim of bringing down its prices.

The crypto bill seeks to create a facilitative framework for the creation of an official digital currency to be issued by the Reserve Bank of India

Japanese and Indian officials are working on ways to release national reserves of crude oil in tandem with the United States and other major economies to dampen prices, seven government sources with knowledge of the plans told Reuters.

The request came after the US government was unable to persuade OPEC+ to pump more oil with major producers arguing the world was not short of crude