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In a bid to cool rising oil prices amid the ongoing Middle East crisis the Trump administration has begun releasing crude from the Strategic Petroleum Reserve (SPR), lending 45.2 million barrels to energy companies in its first round. The volume released so far represents just over half of the 86 million barrels the administration had…
After Russian crude, the US has now issued a 30-day sanction waiver on Iranian oil, currently at sea, to ease rising concerns about energy supply flows as Middle East conflict continues to boil. US treasury secretary Scott Bessent said that the authorisation applies specifically to Iranian crude and petroleum products that are already in transit….
NEW DELHI: Feeling the pinch of a surge in global crude prices, oil marketing companies on Friday increased the retail price of 95-octane premium petrol by nearly Rs 2 a litre and jacked up the rates of industrial diesel by Rs 22 a litre.At the same time, IndianOil, the country’s largest fuel retailer vowed to…
US stocks edged lower in early trade on Friday, putting Wall Street on course for a fourth consecutive weekly loss, although a modest easing in oil prices helped stabilise broader global markets, according to an AP report.The S&P 500 declined 0.5% in morning deals and was headed toward its longest losing streak in a year….
The rupee plunged by 82 paise, or nearly 1 per cent, to settle at an all-time low of 93.71 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a sharp rise in global crude oil prices amid mounting geopolitical tensions, PTI reported.Forex traders said the domestic currency remained under…
Asian markets showed a mixed performance on Friday, following modest losses on Wall Street and a retreat in oil prices after a sharp spike triggered by escalating Iran-Israel tensions.Oil had a volatile session on Thursday, with Brent crude briefly hitting $119 per barrel after Iranian attacks on Gulf energy facilities followed Israel’s strike on a…
Representational photo- Oil facility in Fujairah, United Arab Emirates (AP) Kuwait said its Mina Al-Ahmadi oil refinery was again targeted by Iranian drones on Friday, causing fires at several units. The same refinery was hit a day earlier.Friday’s attack took place as Kuwait marked Eid al-Fitr. Authorities said firefighters were working to control the latest…
The rupee fell to a record low of 93.12 against the US dollar on Friday, pressured by rising global uncertainty and higher crude oil prices amid the ongoing Iran war.The domestic currency declined 0.55% to breach its previous low of 92.63 recorded yesterday, extending losses to nearly 2% since tensions in the Middle East escalated….
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…
A video has emerged of Iran’s missile strike on an oil refinery in the Israeli port city of Haifa, as the Middle East war entered its 21st day on Friday.The video shows bright flashes—explosions—followed by thick plumes of smoke billowing into the air.According to the Jerusalem Post, the Bazan oil refinery in Haifa was damaged…
