NEW DELHI: The national coal price index declined nearly 3.5% from a year ago in June as a 14.6% increase in domestic production during the month ensured sufficient availability in spite of a sharp rise in fuel demand from power plants amid an extended heatwave.The index dropped to 142 points during the month compared to … Read more
China Petroleum & Chemical Corp , known as Sinopec, reported a 9.9% decline in 2023 net profit on Sunday, weighed by falling oil and gas prices but supported by recovering fuel demand. The world’s largest oil refiner by capacity posted net income of 60.5 billion yuan ($8.37 billion), based on Chinese accounting standards, in a … Read more
SINGAPORE: Oil prices were on track on Friday to snap a two-week winning streak after the US central bank indicated interest rate cuts could be delayed by at least two more months, but indications of healthy fuel demand and supply concerns could revive prices in coming days. Brent crude futures were down 44 cents, or … Read more
Crude oil prices clocked at a ten-month high last week, driven by worries about supply shortages after an unexpected extension of voluntary supply cuts by Saudi Arabia and Russia. Hopes of a delay in further rate hikes by the US Federal Reserve and positive fuel demand from China aided the demand outlook. The most active … Read more