Saudi Arabia Hikes Oil Prices

Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil-producing region.

Saudi Arabia raised July crude oil prices for Asian buyers to higher-than-expected levels amid concerns about tight supply and expectations of strong demand in summer.

The US and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand.

Petrol prices have been increased by Rs 1.59 a litre and diesel by Rs 1.31 in the last six days -- the most since the current system of daily price reviews was introduced in 2017. Petrol price on Sunday was hiked by 27 paise to Rs 73.62 a litre in Delhi. The rate of diesel was increased by 18 paise to Rs 66.74 per litre in Delhi. This is the sixth ...

Petrol, diesel prices today: Oil marketing companies such as state-run Indian Oil Corporation currently review the fuel prices on a daily basis, and any revisions are implemented at the fuel stations with effect from 6 am.

Oil futures climbed more than $1 per barrel on Monday, after Saudi Arabia raised its prices for crude sales to Asia for the second month running, signalling improved demand in the region.

Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil-producing region.

Saudi Arabia raised July crude oil prices for Asian buyers to higher-than-expected levels amid concerns about tight supply and expectations of strong demand in summer.

The US and Saudi Arabia have reached a detente after weeks of hostility about high oil prices, with the OPEC+ cartel announcing a production hike even as the new Covid variant threatens demand.

Petrol prices have been increased by Rs 1.59 a litre and diesel by Rs 1.31 in the last six days -- the most since the current system of daily price reviews was introduced in 2017. Petrol price on Sunday was hiked by 27 paise to Rs 73.62 a litre in Delhi. The rate of diesel was increased by 18 paise to Rs 66.74 per litre in Delhi. This is the sixth ...

Petrol, diesel prices today: Oil marketing companies such as state-run Indian Oil Corporation currently review the fuel prices on a daily basis, and any revisions are implemented at the fuel stations with effect from 6 am.

Oil futures climbed more than $1 per barrel on Monday, after Saudi Arabia raised its prices for crude sales to Asia for the second month running, signalling improved demand in the region.