Indian refiners are exploring new crude oil suppliers as Red Sea tensions continue to disrupt global shipping.Companies are testing cargoes from Venezuela and Angola to ensure uninterrupted supplies and reduce dependence on traditional routes. Key Highlights Indian oil refiners are expanding their crude sourcing strategy by testing supplies from Venezuela...
Brent crude has climbed above $100 per barrel amid rising West Asia tensions, raising concerns over inflation and India’s import bill.Petrol, diesel and LPG prices remain unchanged for now, but prolonged high oil prices could increase costs across the economy. Highlights Story Rising geopolitical tensions in West Asia have pushed...
Rising tensions between Iran and the United States push Brent crude above $90 per barrel, raising concerns over India’s fuel costs, inflation and import bill. Key Highlights Oil Rally Raises Concerns for India Global crude oil prices surged sharply after rising geopolitical tensions between Iran and the United States, with...
The government has increased the windfall tax on exports of diesel and aviation turbine fuel, while reducing the levy on petrol.The revised rates came into effect on July 16, but retail petrol and diesel prices for consumers will remain unchanged. Highlights The central government has sharply increased the windfall tax...
Brent crude climbed close to $80 a barrel after fresh US-Iran tensions reignited supply concerns. A prolonged conflict could increase India’s oil import bill and fuel inflationary pressures. Key Highlights New Delhi: Global crude oil prices jumped sharply on Monday as escalating tensions between the United States and Iran renewed...
Crude prices eased after OPEC+ announced another output hike from August, raising expectations of higher global supply. Highlights:• Brent crude fell to $71.70 per barrel• WTI crude slipped to $68.44 per barrel• OPEC+ to raise output targets by 188,000 barrels per day• Gulf exports and Russian shipments are improving• Traders...
Crude oil prices rose slightly as optimism over US-Iran peace efforts supported market sentiment, while increased Gulf supplies limited further gains. Key Highlights: Global crude oil prices edged higher on Friday as investors remained cautiously optimistic that peace efforts between the United States and Iran would help maintain stability in...
Private fuel retailer Nayara Energy has reduced petrol and diesel prices as global crude oil prices stabilize, while government-run oil companies have kept retail fuel prices unchanged. Highlights Private fuel retailer Nayara Energy has reduced petrol and diesel prices from July 1, offering relief to motorists amid easing crude oil...
Global oil prices have fallen to their lowest levels since before the Iran conflict, offering relief to India’s economy, though petrol and diesel prices remain unchanged. Highlights: Global crude oil prices have dropped sharply, returning to levels seen before the Iran conflict and providing a positive signal for the Indian...
US-Iran peace agreement reduces geopolitical tensions, raising expectations of further declines in global crude oil prices while fuel rates in India remain unchanged. Highlights: Global crude oil prices witnessed a decline on Friday, June 19, as investors responded positively to the recently signed peace agreement between the United States and...
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