energy markets

Washington, March 13 – The United States has temporarily allowed countries to purchase Russian oil stranded at sea, a move that comes days after Washington granted a similar waiver to India as it seeks to stabilize global energy markets amid rising geopolitical tensions.Treasury Secretary...

Washington, March 12 – Russia has emerged as an unexpected economic beneficiary of the war involving Iran, earning billions of dollars from rising global oil prices triggered by the conflict, a US Senator said during a Senate Armed Services Committee hearing on Thursday.Senator Angus King of...

March 12, New Delhi – The International Energy Agency’s decision to release 400 million barrels of oil from global reserves has already had a significant impact on energy markets, which remain in a critical state following the closure of the Strait of Hormuz, said Executive Director Fatih Birol...

New Delhi, March 12 Somany Ceramics Ltd said on Thursday that production at its Kassar plant in Haryana may be partially affected due to restricted gas supply following the conflict in West Asia.The company has received a communication from GAIL (India) Ltd stating that gas supplies to...

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...

Washington, March 12 – US President Donald Trump said that the United States could destroy Iran's electricity infrastructure within an hour if it chose to escalate the conflict, while also revealing that authorities were investigating a possible Iranian revenge plot involving drones launched...

India has welcomed the decision by the International Energy Agency (IEA) to release emergency oil reserves in response to ongoing supply disruptions. The Ministry of Petroleum and Natural Gas stated in a press release that India is an Associate Member of the IEA and an active participant in...

Washington, March 12, President Donald Trump has said that US military action against Iran would help bring down global oil prices, telling supporters in Kentucky that a coordinated release of emergency crude reserves and continued pressure on Tehran would stabilize energy markets.Speaking at...

Gandhinagar, March 11 – The Gujarat government has formed a high-level committee to secure liquefied natural gas (LNG) supplies in response to disruptions in global energy markets caused by conflicts in West Asia, spokesperson Minister Jitu Vaghani announced on Wednesday.The committee, headed...

Strasbourg, March 11 – European Commission President Ursula von der Leyen said on Wednesday that the conflict in the Middle East has imposed heavy economic costs on Europe, driving up energy prices and adding billions of euros to import bills."Since the beginning of the conflict, gas prices...

New Delhi, March 11 – Former High Commissioner of India to Bangladesh, Veena Sikri, on Wednesday described the evolving situation in West Asia as extremely serious, warning that the conflict is worsening and having far-reaching humanitarian and economic consequences. She expressed hope that the...

United Nations, March 11 The United Nations has warned of significant risks to global trade and development, including higher food prices and the cost of living, if the Strait of Hormuz is closed amid the West Asia conflict.The UN Conference on Trade and Development (UNCTAD) said in a report...

Washington, March 11 – The White House said that President Donald Trump personally approved a temporary waiver allowing India to purchase Russian oil as part of a broader effort to stabilize global energy markets amid disruptions caused by the ongoing US military campaign against Iran.The...

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 Amid disruptions to imported gas supplies caused by the widening West Asia conflict, the government has revised the priority order for allocating domestically produced natural gas, placing LPG production alongside CNG and piped cooking gas at the top.Under the revised...

US stocks closed higher after a remarkable turnaround, as oil prices fell from nearly $120 per barrel to below $90, according to reports from AP.

New Delhi, March 9 Petrol and diesel prices will not be increased for now, despite international crude oil rates crossing USD 100 per barrel, top government sources said on Monday.Officials said the government is closely monitoring global oil markets, but there is no immediate plan to raise...

New Delhi, March 9 India favors peace and a return to dialogue and diplomacy, and advocates for de-escalation, restraint, and the safety of civilians, External Affairs Minister S Jaishankar said on Monday regarding the escalating conflict in West Asia.Speaking on the conflict in the Rajya...

Washington, March 9: Indian refineries processing Russian crude was a "pragmatic decision" taken to stabilize global energy markets and speed up supplies in Asia, US Energy Secretary Chris Wright said.Speaking on Fox News on Sunday (local time), Wright said the policy does not represent any...

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...