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NEW DELHI: Crude oil futures rose 1.30 percent in rupee terms to touch Rs 3, 580 a barrel today as speculators’ positions widened, following a strong trend across Asia.
Crude oil prices on the Korea Mercantile Exchange (KMEX)1 rose 46 months Rupees, or 1.30%, to 2,789 lots, or Rs 3,580 per barrel.
In February, crude oil prices also rose by Rs 44 (1.23%) to Rs 3,630 per barrel with 111 lots traded. Market participants said the rise in crude oil futures was largely in line with improving trade trends in Asia. Asian crude prices are expected to rise on improved U.S. economic data, but analysts said gains will be curbed due to traders’ restrictions on liquidating positions.
Meanwhile, in early trading in New York, West Texas Intermediate crude for February delivery was up 51 cents at $55.77 a barrel, while Brent crude was up 29 cents at $60.40 a barrel. York Mercantile Exchange.
SamuelWard
44
May 31, 2024
DUBAI: A global ratings agency has said that crude oil prices could return to marginal costs in 2015, when annual crude oil supply will reach around $800 per barrel.
Even at $80, key metrics will be weaker than previously expected, but the impact on credit ratings will depend on the ability and willingness of companies to respond by cutting capital expenditures, operating costs and dividends, or increasing production, Wheelock Ratings said.
In a statement, Wheelock Ratings said, “Our approach to oil and gas companies is to evaluate them over the full cycle, and we are unlikely to take negative rating actions.” But that doesn’t mean the current price decline to around $600 won’t result in a rating downgrade. That’s because companies with negative outlooks include Total (AA), ENI (A ) and BG Energy Holdings (A-). Further underperformance is unlikely at current prices.
“We will closely monitor the performance of Total and BG’s ability to...
LesterJean
48
May 31, 2024
BishopGodwin 
47 
May 31, 2024 
