Hindustan Petroleum executives stated that 69% of crude oil was procured from the spot market in the June quarter, compared to 44% in the same period last year, and the proportion of Russian oil processed increased to 38% in the June quarter. Preparations are underway for oil procurement in September.

Spot gold short-term trading advice: trending upward, buy on dips

According to China National Petroleum Corporation, the Changqing Oilfield eastern basin natural gas evaluation project team has recently successfully completed drilling an ultra-long horizontal deep coalbed methane well in the eastern Ordos Basin. The horizontal section of the well extends 3,100 meters, with a coal seam encounter rate as high as 95.8%, setting a new national record for the longest horizontal section in deep coalbed methane drilling.

The main Nymex US crude oil futures contract has just surpassed the $83.00 per barrel mark, now quoted at $83.02 per barrel, up 0.75% on the day.

Canadian Dollar advances due to softer US Dollar, higher oil prices