The decline in net profit can be attributed to a crash in average gross refining margins (GRMs)—the revenue refiners accrue from transforming each barrel of crude oil into refined fuel products. IOCL ...

Oil settled higher the first two sessions this week as buyers emerged. U.S. crude inventories rose by 5.5 million barrels to 426 million barrels in the week ended Oct. 18, the Energy Information ...

Brent crude futures dipped 31 cents, or 0.4 per cent, to $75.73 a barrel by 0011 GMT. U.S. West Texas Intermediate crude futures shed 32 cents, or 0.5 per cent, to $71.42 per barrel. Crude futures ...

According to industry body American Petroleum Institute (API), crude oil inventories in the US increased by 1.64 million barrels for the week ended October 18. Market was expecting it to increase ...