With Crude at $90, refining margins of Indian players to stay at $9–10: CareEdge

Indian refiners, which are the key beneficiaries of cheaper Russian crude, should still be able to clock gross refining margins (GRMs) of around $9–10 per barrel in FY24. India relies on imports for nearly 85% of its total crude oil needs.

Crude oil prices surge 25% from May 2023 lows; hit highest level since December

Crude oil prices rose to a nine-month high on Monday due to expectations of OPEC+ supply cuts and signs of economic recovery in China. Brent Crude reached $89 per barrel, the highest level since December last year.

How will Gold perform in 2023? A look at key monitorables and outlook

Experts believe that the growth outlook for the precious metal remains robust even though the risk appetite for equity investors has improved. Let's take a look at the factors that will impact gold prices going ahead:

Here's what refining margins say about the state of the oil market

<ul><li>On Sunday, Saudi Arabia announced unilateral cuts to crude production, on top of already pledged reductions in output that it is making alongside other producer nations.</li></ul>

Oil falls amid risk-off mood and doubts of further OPEC curbs

<ul><li>The global benchmark traded near $76 a barrel, after a key gauge of Chinese stocks reflected economic sluggishness, overshadowing progress in the US toward a debt-ceiling agreement.</li></ul>

Crude oil prices drop 6% in two sessions; trading at 4-week low

Brent crude and WTI crude have retraced all the gains they made earlier this month, which came after an unexpected cut of over one million barrels per day announced by OPEC+, a group of major oil-producing nations led by Saudi Arabia.

Oil prices steady on uncertain global outlook and supply concerns

<ul><li>Brent crude slipped 22 cents, or 0.3%, to $81.44 a barrel by 1135 GMT. U.S. West Texas Intermediate crude was down 13 cents, or 0.2%, at $77.74.</li></ul>

Akshaya Tritiya 2023: When the going gets tough in the markets, the gold gets going

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Oil holds near five-month high as US, China show tighter market

<ul><li>Crude inventories declined again last week at the key American storage hub in Cushing, Oklahoma, while weaker Russian oil exports and interrupted flows from Iraqi Kurdistan are reining in supplies.</li></ul>

Oil steadies near $81 with focus on US stockpiles and OPEC+ cuts

The industry-funded American Petroleum Institute reported nationwide crude stockpiles fell by 4.3 million barrels, including a drop at the key storage hub in Cushing, Oklahoma, according to people familiar with the data.

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With Crude at $90, refining margins of Indian players to stay at $9–10: CareEdge

markets

Crude oil prices surge 25% from May 2023 lows; hit highest level since December

markets

How will Gold perform in 2023? A look at key monitorables and outlook

markets

Here's what refining margins say about the state of the oil market