Latest News, Updates & Breaking Headlines
Living in Mumbai, Bengaluru, Pune or parts of the Delhi-NCR region? You might find it hard to grab a can of Diet Coke this summer. The Middle East war has already rattled oil supplies, economies across the globe and multiple sectors—now it’s hitting something far more familiar on everyday shelves: Diet Coke. The beverage is…
India faces greater exposure. It depends heavily on the Gulf region not just for crude oil but also for liquefied petroleum gas. (AI image) India and China, among the largest economies in Asia, are staring at a supply crunch for their energy needs as the Middle East conflict drags on. Asia’s biggest crude importers have…
Indian Oil Corporation Limited (IOCL) on Tuesday assured that supplies of petrol and diesel remain stable in the country despite ongoing supplies triggered by the Middle East conflict. Speaking at a press conference, Ashutosh Gupta, Executive Director and State Head, IOCL Punjab State Office, said the company currently holds sufficient reserves across Punjab, Himachal Pradesh,…
Oil prices declined on Tuesday, reversing sharp gains from the previous session, as expectations of imminent US-Iran peace talks eased concerns over prolonged supply disruptions from the Middle East.Brent crude futures fell 95 cents, or 1%, to $94.53 per barrel, while US West Texas Intermediate (WTI) crude for May dropped $1.54, or 1.72%, to $88.07….
Amid ongoing geopolitical tensions straining global oil supplies, the government has said that it is ensuring uninterrupted fuel availability across the country and is closely monitoring maritime safety in the Middle East.Reassuring citizens, the ministry of petroleum and natural gas said there has been no disruption in household LPG supply. “Domestic LPG cylinder deliveries remain…
India’s cooking gas consumption saw a sharp decline in March, with LPG usage falling 13 per cent year-on-year due to supply disruptions linked to the ongoing Middle East conflict, according to official data.LPG consumption stood at 2.379 million tonnes in March, down from 2.729 million tonnes in the same month last year. The decline comes…
More than five tonnes of gold remain held up at customs without clearance. (AI image) Banks have put a pause on fresh import orders for gold and silver from overseas suppliers. Large quantities of gold and silver are stranded at customs, as a formal government notification permitting bullion imports has yet to be issued, according…
The Middle East conflict is starting to dim lights in Pakistan. Disruptions at the Strait of Hormuz have hit the globe’s oil pipeline, straining energy supplies across the world and pushing countries to switch on their power saver mode. For Pakistan, the effect has reached common people, with more people working from home and now…
Oil prices declined sharply on Tuesday as hopes of renewed talks between the US and Iran eased concerns over prolonged supply disruptions, even as underlying risks to global energy flows remained elevated. Brent crude futures fell $3.93, or 3.96%, to $95.43 a barrel, while US West Texas Intermediate (WTI) crude dropped $6.60, or 6.66%, to…
The Middle East crisis continues to choke energy supplies across the world and push crude prices higher, swinging around $100 per barrel mark. However, even though input costs for energy continue to rise, fuel prices remain unchanged in India, pushing state-run oil marketing companies under mounting losses.Losses are estimated at around Rs 18 per litre…
