crude oil

Oil prices have exceeded $100 per barrel for the first time in over three and a half years, due to the ongoing conflict in Iran, which is disrupting production and shipping in the Middle East. The price of a barrel of Brent crude, the international standard, was trading at $101.19 yesterday, up...

Washington, March 8 The United States of America urged India to release more than 100 million barrels of Russian crude that was waiting offshore for Chinese refineries, in an effort to cool rising oil prices during the Iran conflict, Energy Secretary Chris Wright said on Sunday.Speaking in...

Washington, March 8 – US Energy Secretary Chris Wright said on Sunday that more than 100 million barrels of Russian crude are currently floating at sea, waiting to be delivered to China. He believes that redirecting this oil to other refineries could temporarily ease disruptions in the global...

Washington, March 8 – US Energy Secretary Chris Wright said on Sunday that the US had asked India to purchase Russian oil cargoes that were waiting to be unloaded at Chinese refineries as a way to stabilize global energy markets during the ongoing conflict with Iran.In an interview with CNN...

New Delhi, March 8 Indian refiners have begun negotiations to secure additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies in the event of a prolonged conflict in the Middle East, industry officials and analysts said.Refineries, which convert crude oil into...

The US has given India permission to purchase Russian oil that is currently on ships in waterways, aiming to ease supply shortages globally amid the West Asia conflict."The world has ample oil supplies. Yesterday, the Treasury Department authorized our allies in India to begin buying Russian...

Washington, March 7 – US Treasury Secretary Scott Besant indicated that Washington could temporarily ease some restrictions on Russian oil supplies and allow India to continue purchasing to stabilize global energy markets during the ongoing Middle East conflict.In an interview with Fox...

Washington, March 6 – The United States has “reached out to India” to purchase Russian oil currently stored in floating storage in southern Asia as part of a short-term effort to ease pressure on global oil markets, US Energy Secretary Chris Wright said in an interview with ABC News.The...

Moscow, March 6 Russia will not disclose data on crude oil exports to India and will keep it secret from "too many ill-wishers," the Kremlin said on Friday.Kremlin spokesman Dmitry Peskov's comments came hours after US Treasury Secretary Scott Besant said that Washington has issued a temporary...

New Delhi, March 6 – Indian refiners have begun acquiring millions of barrels of Russian oil floating in Asian waters after the US granted a waiver allowing the purchase of cargoes stranded at sea, but they are seeking legal opinions on whether the exemption also permits buying from sanctioned...

New Delhi, March 6 The government invoked rarely used emergency powers to direct oil refineries to increase LPG production as it seeks to increase the availability of domestic cooking gas to mitigate potential disruptions from the widening Middle East conflict.India consumed 31.3 million...

New Delhi, March 6 – The Bharatiya Janata Party (BJP), which has been accused of surrendering to foreign forces, presented a counter-argument on Friday to deflect criticism of the crude oil deal. It also shared "instructions" from two former US Secretaries of State, including Hillary Clinton...

Mumbai, March 6 The benchmark indices Sensex and Nifty in the Indian stock market fell by over 1% on Friday after a day of relative calm, as the conflict in the Middle East entered its seventh day, driving up crude oil prices.Weakness in US equities, a subdued trend in European markets, and...

New Delhi, March 6 India could face pressure on the rupee, higher inflation, and a widening current account deficit if the escalating Middle East conflict drives up energy prices and disrupts supplies, given its heavy dependence on crude and LNG imports from the region, according to Moody's...

New York/Washington, March 6 Amid the escalating conflict with Iran, the US said it is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil."President Trump's energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable...

New Delhi, March 5 The United States will work with India to ensure that its short- and long-term energy needs are met, US Deputy Secretary of State Christopher Landau said on Thursday, amid concerns over disruptions in the flow of crude oil following the crisis in West Asia.Global oil and gas...

New Delhi, March 5 India is seeking assistance from the United States to secure maritime insurance for vessels transporting oil from the Middle East, as it looks for continuity in energy supplies beyond its current reserves.The country has stocks in tanks, pipelines, and ships in transit to...

Mumbai, March 5 Corporate earnings in India could face downside risks if the ongoing Iran conflict persists for more than a few weeks, as higher oil and gas prices threaten to weigh on the economy and markets, according to a report by Kotak Institutional Equities."We expect some downside risk...

Mumbai, March 5 The rupee rebounded from its lowest level and closed with a gain of 45 paise at 91.60 (provisional) against the US dollar on Thursday, driven by buying trends in domestic equity markets and reports of Reserve Bank intervention.According to forex analysts, the Reserve Bank seems...

New Delhi, March 5 Russia has always been open to supplying crude oil to India, Russian Ambassador Denis Alipov said on Thursday, amid growing concerns over soaring prices of petroleum products in the context of the West Asia crisis.Global oil and gas prices have surged after Iran has...