crude oil

New Delhi/Tehran, March 12: Iran has allowed Indian-flagged tankers to pass through the Strait of Hormuz following talks between External Affairs Minister (EAM) S. Jaishankar and his Iranian counterpart, Abbas Araghchi, with the aim of keeping the critical sea route open for the transportation...

Washington, March 12 – The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve over the next four months, as part of a coordinated international effort by major economies to stabilize energy markets amid rising global prices driven by conflict in the Middle...

New Delhi, March 11 India on Wednesday condemned the escalating attacks on commercial shipping in West Asia after a Thai-flagged bulk carrier bound for Gujarat's Kandla Port was targeted by Iran's Islamic Revolutionary Guard Corps (IRGC).Three vessels were struck by projectiles in the Strait...

Mumbai, March 11 The rupee declined by 16 paise to close at 92.01 against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger US dollar as the war in West Asia continued.Forex traders said that outflows from foreign institutional investors and...

New Delhi, March 11 Amidst panic buying in some parts of the country, the government on Wednesday stated that India has sufficient LPG stocks to meet household cooking gas requirements, even as it intensified efforts to secure alternative supplies to replace volumes disrupted by the West Asia...

New Delhi, March 11 India is one of the largest consumers and refiners of crude oil, and it is essential for New Delhi and Washington to work "hand-in-hand" to ensure the stability of the energy market, US Ambassador Sergio Gor said on Wednesday.His conciliatory gesture came as the Congress...

New Delhi, March 11 Amid the ongoing conflict in West Asia, a senior official from the Ministry of Oil said on Wednesday that there is no need to panic-book LPG cylinders, and that the normal delivery cycle of two and a half days is being maintained.India's crude oil supplies remain secure...

New Delhi, March 11 – Two shipments of liquefied natural gas (LNG) are arriving in India to bolster supplies for domestic consumers, as public sector oil and gas companies have increased imports from outside the Middle East amid the Iran conflict, a senior official from the central government...

New Delhi, March 11 State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing the impact of elevated global energy prices will lead to heightened margin and cash-flow volatility, Moody's Ratings said...

New Delhi, March 11 Crude oil prices jumped by Rs 460 to Rs 7,881 per barrel in futures trading on Wednesday as global benchmarks advanced due to intensifying geopolitical tensions.On the Multi Commodity Exchange (MCX), crude oil for March delivery rose by Rs 460, or 6.2 per cent, to Rs 7,881...

Mumbai, March 11 The rupee declined by 4 paise to 91.89 against the US dollar in early trading on Wednesday, weighed down by outflows from foreign investors and the ongoing conflict in the Middle East.However, a weaker US dollar and falling global crude oil prices prevented a sharper decline...

Washington, March 10 – Oil prices remained near $90 a barrel on Tuesday as the conflict involving Iran sent shockwaves through global energy markets, raising fears of prolonged supply disruptions through the critical Strait of Hormuz and prompting US lawmakers to propose emergency measures to...

New Delhi, March 10 Prime Minister Narendra Modi met with several key ministers on Tuesday and asked them to work together to ensure that Indian consumers do not suffer from the impact of the conflict in West Asia on the supply and price of petroleum products, sources said.Amid rising tensions...

New Delhi, March 10 Crude oil prices plunged by over 8 per cent to Rs 8,069 per barrel in futures trading on Tuesday, following comments from US President Donald Trump that the conflict with Iran may be nearing its end, easing fears of prolonged supply disruptions.Ending a three-day rally...

Mumbai, March 10 The rupee rebounded from its all-time low in early trading on Tuesday, rising by 7 paise to 92.14 as global oil prices fell after US President Donald Trump said the war with Iran may end soon.A weaker dollar and a strong opening in the domestic equity markets further supported...

New Delhi, March 9 India could face an additional foreign currency outflow of USD 7-8 billion per month due to the surge in international energy prices, following the conflict in West Asia, raising concerns over inflation and the current account deficit, analysts said.While crude oil prices...

Mumbai, March 9 Maharashtra Chief Minister Devendra Fadnavis assured on Monday that the Union government was taking adequate steps to ensure energy security and prevent any shortage of essential resources amid the ongoing conflict in West Asia.Speaking to reporters at Vidhan Bhavan, Fadnavis...

March 09, New Delhi – Stock markets across Asia plunged on Monday as oil prices surged more than 30 per cent following the near-complete shutdown of the Strait of Hormuz.In South Korea, the Kospi index dropped 6.7 per cent. Japan’s Nikkei 225 fell around 5.8 per cent after initially declining...

New York/Washington, March 9 The US has urged India to buy Russian oil already floating at sea and redirect it to Indian refineries to "alleviate" concerns about supply shortages and price spikes amid the ongoing West Asia conflict, Energy Secretary Chris Wright has said.However, the move, he...

New York/Washington, March 9 The US has urged India to purchase Russian oil already floating at sea and redirect it to Indian refineries to "mitigate" fears of supply shortages and price spikes amid the ongoing West Asia conflict, Energy Secretary Chris Wright has said.However, the move, he...