oil prices

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.

March 09, New Delhi — Rising tensions in the Middle East are fueling a worsening energy crisis across global markets, with oil prices surging past $114 per barrel for the first time since 2022.The international benchmark Brent Crude and the main US oil contract, West Texas Intermediate, rose...

New Delhi, March 9 India will not join the International Energy Agency (IEA) initiative to release strategic oil reserves as part of an effort to cool oil prices, top government sources said.India, the world's third-largest oil-importing and consuming nation, has 5.33 million tonnes of...

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...

New Delhi, March 9 Equity investors have lost approximately ₹22.40 lakh crore since the start of the conflict involving the US, Israel, and Iran, which has rattled stock markets, driving down the BSE Sensex by 4.6 per cent.The US and Israel launched military strikes on Iran on February 28...

March 09, New Delhi – Donald Trump downplayed the surge in global oil prices driven by the war on Sunday, describing it as a temporary inconvenience amid the ongoing US-led military campaign against Iran.In a post on Truth Social, Trump said that "short-term increases in oil prices will...

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 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...

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 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 7 The Congress on Saturday attacked the government over the rise in prices of domestic LPG cylinders, asking why the people of the country were being made to bear the consequences of Prime Minister Narendra Modi's foreign policy "failures".In a post on X, Congress president...

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...

New York/Washington, March 6 The US said on Friday that it is "allowing our friends in India" to take the Russian oil already on ships around southern Asia, refine it, and move the stocks into the market quickly to ensure a steady supply and ease pressure amid the West Asia conflict.Earlier...

Mumbai, March 6 Stock market benchmark indices Sensex and Nifty plunged by over 1 per cent on Friday after a day of relative calm, as the conflict in the Middle East entered its seventh day, driving up crude oil prices.The 30-share BSE Sensex fell by 1,097 points, or 1.37 per cent, to close at...

New Delhi, March 6 – Union Commerce Minister Piyush Goyal said on Friday that talks were underway with the Shipping Ministry and shipping companies to facilitate the release of cargo stranded due to the conflict in the Middle East.The government will explore ways to ease the burden on...

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...

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...

New Delhi, March 5 The estimated average Brent crude price of USD 63/bbl for 2026 is unlikely to see a significant increase, as the closure of the Strait of Hormuz would be temporary, and the global oil market oversupply should limit price increases, Fitch Ratings said.Fitch said that while...