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Global crude prices edged lower on Friday after a continued surge, as statements from US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu helped ease market concerns over further escalation in energy infrastructure attacks.Brent crude slipped toward $107 a barrel after its highest close since July 2022, while West Texas Intermediate (WTI) for May…
If the US were to ‘unsanction’ Iran oil at sea, India would be able to step up procurement. (AI image) Will India get access to Iran crude oil soon? The Donald Trump administration has signalled the possibility of waiving sanctions on floating Iran crude oil to ease the ongoing shock in the global energy markets….
Global oil and natural gas prices surged sharply on Thursday after Iran launched fresh strikes on key energy infrastructure across the Gulf, including Qatar’s main liquefied natural gas (LNG) facility, raising concerns over prolonged supply disruptions.Brent crude, the international benchmark, climbed close to $114 per barrel, up from below $73 on the eve of the…
Global oil prices surged and equity markets weakened on Friday after fresh strikes on energy infrastructure in Iran and in retaliation Islamic Republic escalating threats to key facilities across the Gulf raised concerns over supply disruptions.Natural gas prices increased by more than 5%, while Brent crude rose to $111.19 in early trading and extended its…
Indian refiners have purchased nearly 30 million barrels of Russian crude within a week. (AI image) India is aggressively buying Russian crude oil amidst supply disruptions from Strait of Hormuz caused due to the ongoing US-Iran war and Middle East conflict. In fact, India is buying such huge quantities of Russian crude, that tankers headed…
Crude oil prices showed slight relaxation on Wednesday as tensions continue to boil in the Middle East. Brent crude climbed 3.2% to $103.42 a barrel before slipping $1.15, or 1.11%, to $102.27 a barrel, by 0108 GMT. US West Texas Intermediate crude fell $1.54, or 1.6%, to $94.67. The gains initially marked oil’s second-highest close…
State-owned oil marketing companies have started asking petrol pump dealers to make advance payments for supplies of petrol and diesel, as refiners grapple with mounting revenue losses from retail fuel sales, according to a Reuters report.Nearly 90% of India’s about 1,01,470 fuel stations are linked to public sector refiners and retailers – Indian Oil Corporation,…
Oil prices extended their gains as the Middle East conflict intensifies and Strait of Hormuz continues to see disruption, fueling fears of supply disruptions in global markets. On Tuesday, Brent crude futures rose by $2.48, or 2.5%, to $102.69 per barrel at 0058 GMT, while US West Texas Intermediate (WTI) crude advanced by $2.42, or…
NEW DELHI: The cost of crude for Indian refiners has soared 93% since the conflict in the Gulf broke out on Feb 28 and hit $136.56 a barrel on Friday, eroding profits for domestic players ranging from IndianOil, HPCL and BPCL to Reliance Industries. Several countries, including the US, let retail prices rise in line…
Wholesale price inflation accelerated to 2.13 per cent in February–the highest level in 11 months–as firming prices of food and non-food articles kept cost pressures elevated despite some easing in vegetable inflation, official data released on Monday showed.The WPI-based inflation rate has now risen for the fourth consecutive month. It stood at 1.81 per cent…
