crude oil

Mumbai, March 16 The rupee remained weak and lost 13 paise to 92.43 against the US dollar in early trade on Monday, weighed down by massive withdrawal of foreign funds and surging crude oil prices amid geopolitical uncertainties.Volatile sentiment in domestic equity markets further dragged the...

The International Energy Agency (IEA) stated that its member countries would release large quantities of oil from emergency reserves to help lower global prices.In a statement, the agency said, "Countries in Asia and Oceania will begin releasing oil immediately, while reserves from Europe and...

Colombo, March 15 Sri Lanka implemented a fuel rationing system using QR codes on Sunday, in response to a potential crisis situation due to the ongoing conflict in the Middle East.Cars are allowed 15 liters per week, while buses are allowed 60 liters per week, according to the Ministry of...

Pune, March 15 There is sufficient LPG available, and people do not need to queue up for gas, said Maharashtra Chief Minister Devendra Fadnavis on Sunday, accusing the Congress of creating fear among people amid the West Asia crisis.He was responding to queries concerning allegations of a...

Mumbai, March 14 Union Minister Piyush Goyal said on Saturday that India is well-positioned to handle any situation related to crude oil and fuel, as the West Asia crisis disrupts gas shipments and shipping routes, and highlighted that the government has increased kerosene production to provide...

Washington, March 14 – The United States has expanded authorizations for Venezuela's energy and petrochemical sectors, a move that could help stabilize global fertilizer and oil supplies – developments closely watched by major importers such as India.The US Treasury Department said the changes...

March 13, New Delhi – Addressing an inter-ministerial briefing on the ongoing West Asia conflict, government officials stated that Indian refineries are currently operating at 100 per cent capacity or higher.Officials stated that refineries have adequate inventories of crude oil and supplies...

Mumbai, March 13 The rupee trimmed some losses and closed the session 5 paise lower at a fresh record low of 92.30 against the US dollar on Friday, with crude oil prices stabilizing around USD 100/barrel, even as global sentiment remained volatile due to the West Asia crisis.A strengthening US...

New Delhi, March 13 Crude oil prices rose by ₹94 to ₹8,898 per barrel in futures trading on Friday amid the escalating conflict in West Asia and disruptions in energy supply.On the Multi Commodity Exchange (MCX), crude oil for March delivery increased by ₹94, or 1.07%, to ₹8,898 per barrel in...

New Delhi, March 13 India has temporarily reintroduced kerosene for household use and allowed the use of coal and other alternative fuels for hotels and restaurants as the escalating West Asia crisis disrupts the country's energy supply chains.The move comes after the conflict effectively shut...

March 13, New Delhi – Brent crude edged further above $100 per barrel, and stock prices declined in early Asian trading on Friday, following Iran's vow to target oil resources in West Asia and continue disrupting the Strait of Hormuz.Brent, which had risen above $100 on Thursday, was up 0.20...

Washington, March 12 – U.S. President Donald Trump said on Thursday that rising oil prices benefit the United States because the country is the world’s largest producer of crude, even as tensions in the Middle East push global energy markets higher.“The United States is the largest Oil...

New Delhi, March 12 – Prime Minister Narendra Modi said on Thursday that the government is "doing everything possible" to safeguard India's energy security in the face of disruptions in oil and gas supplies caused by the Iran war.Addressing a media event here, PM Modi said that his government...

March 12, New Delhi – India's Minister for Petroleum and Natural Gas, Hardeep Singh Puri, speaking to the Lok Sabha on Thursday, stated that India's crude oil supply is secure, with sufficient fuel reserves and no cause for concern regarding availability.The Minister further added that the...

An oil tanker, carrying crude oil, arrived in Mumbai yesterday after safely navigating the strategically important Strait of Hormuz. This is the first ship bound for India to pass through the waterway since maritime traffic slowed following recent US and Israeli strikes on Iran. According to...

Chennai, March 12 Tamil Nadu Chief Minister M.K. Stalin on Thursday urged the public not to panic about the availability of petrol, diesel, and cooking gas amid growing concerns triggered by the ongoing West Asia conflict, assuring that the country has adequate fuel reserves.In a statement...

New Delhi, March 12 According to vessel tracking data and industry sources, a foreign-flagged vessel carrying oil for India has successfully crossed the war-affected Strait of Hormuz to reach Mumbai, while another large ship is likely to reach Indian ports in a day or two.The Liberia-flagged...

New Delhi, March 12 – Emphasizing India’s role as a major exporter of refined petroleum products, particularly to neighboring countries, the Ministry of External Affairs (MEA) said on Thursday that the Indian government has received a request from Bangladesh for diesel supply, which is currently...

New Delhi, March 12 – India does not face a fuel shortage, and the country currently has sufficient crude oil reserves, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Thursday, adding that people should avoid spreading rumors and creating false narratives.Speaking in Parliament...

New Delhi, March 12 Crude oil prices rose by Rs 371 to Rs 8,406 per barrel in futures trading on Thursday, as traders increased their positions in response to strong spot demand.On the Multi Commodity Exchange, crude oil for April delivery rose by Rs 371, or 4.62%, to Rs 8,406 per barrel in...