All posts tagged: crude

Congress president Mallikarjun Kharge questions fuel price hike despite lower crude oil rates

Congress president Mallikarjun Kharge questions fuel price hike despite lower crude oil rates

Published by Webster

Kharge cited an official statement by the PIB to state that exactly 12 years ago today — on May 26, 2014 — when Prime Minister Narendra Modi assumed office, the price of crude oil in the Indian basket stood at USD 108.05 per barrel, and the Dollar-Rupee exchange rate was Rs 58.59. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Recent fuel price hike a form of belt tightening amid rise in crude prices, says experts

Recent fuel price hike a form of belt tightening amid rise in crude prices, says experts

Published by Webster

Senior executives from state-run oil companies ONGC and BPCL have said the recent increase in petrol and diesel prices reflect the impact of prolonged geopolitical tensions in West Asia, rising global crude oil prices and mounting pressure on oil marketing companies due to under-recoveries. Speaking on the impact of the West Asia conflict, ONGC Director (Exploration) Sushma Rawat said crude oil prices have remained highly volatile amid uncertainty over the conflict. “Whenever there is a declaration that there is a peace accord, the crude prices start to dip. And when you realise that there is no solution, the prices go up again,” Rawat said. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

79 crude bombs recovered in Bengal; NIA launches probe

79 crude bombs recovered in Bengal; NIA launches probe

Published by Webster

The National Investigation Agency has registered a case to investigate the recovery of 79 crude bombs in West Bengal ahead of elections. The move follows directions from the Election Commission of India to intensify action against illegal bomb manufacturing in the state Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Nifty, Sensex opens in red as crude oil crosses USD 100 amid global tensions

Nifty, Sensex opens in red as crude oil crosses USD 100 amid global tensions

Published by Webster

Equity benchmark indices Sensex and Nifty fell sharply in early trade on April 23, tracking a surge in crude oil prices above USD 100 per barrel and weak global cues. Rising geopolitical tensions and FII outflows further weighed on investor sentiment Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Crude oil jumps over 6 per cent amid Iran-US standoff in key shipping lane

Crude oil jumps over 6 per cent amid Iran-US standoff in key shipping lane

Published by Webster

Amid the ongoing global turmoil, oil prices rose on Monday, April 20. The hike in oil prices comes after a standoff between Iran and the US prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. As per news agency AP, prices of US crude oil increased 6.4 per cent to USD 87.88 per barrel after trading resumed on the Chicago Mercantile Exchange. The price of Brent crude, the international standard, climbed 6.5 per cent to USD 96.25 per barrel. Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Crude oil prices fall up to 3 pc as US-Iran de-escalation hopes rise

Crude oil prices fall up to 3 pc as US-Iran de-escalation hopes rise

Published by Webster

International crude oil prices slipped on Wednesday after early gains, declining nearly 3 per cent from intraday highs as hopes of easing tensions between the United States and Iran weighed on market sentiment, reported news agency IANS. Brent and WTI Retreat After Early Rally Brent crude futures dropped to an intraday low of USD 102.79 per barrel, down about 2.9 per cent from the day’s high of USD 105.86. At the time of reporting, Brent was trading around USD 103.19 per barrel, nearly 1 per cent lower, reported IANS. Similarly, US West Texas Intermediate (WTI) crude declined by as much as 2.19 per cent from its intraday high of USD 103.31, settling near USD 101.25 per barrel. The fall came after both benchmarks had posted strong gains earlier in the day, reported IANS. Volatility Driven by Geopolitical Developments Analysts attributed the sharp price swings to ongoing geopolitical developments and mixed macroeconomic signals. Market sentiment improved after US President Donald Trump indicated that the US could potentially step back from the conflict within two to three …

`India`s crude oil reserves can cover only 20-40 days, not several months`

`India`s crude oil reserves can cover only 20-40 days, not several months`

Published by Webster

India`s reserves of liquid fuel can cater for only about 20 to 40 days and cannot be built to last for several months, according to the Secretary of the Petroleum and Natural Gas Regulatory Board (PNGRB), Anjan Kumar Mishra. “We are already having some reserve for the liquid fuel, but you cannot build a reserve which will be lasting for maybe six months` time,” Mishra told ANI adding, “It may cater for 20 to 40 days, but it may not be able to cater for six months` time or for longer period,” Speaking on the sidelines of the PHDCCI`s Hydrocarbons Summit 2026 held in the national capital, Mishra said the crisis in West Asia region is affecting India, but the government has put in place measures and is closely monitoring the situation. “I won`t be lying that it is affecting India itself, but definitely the government has come up with all the plans and we have been monitoring the situation very closely,” he said. The PNGRB official said there is no shortage of fossil fuel …

Reliance denies reports of buying Iranian crude amid tensions

Reliance denies reports of buying Iranian crude amid tensions

Published by Webster

Amid the West Asia conflict, Reliance Industries Limited (RIL) on Thursday refuted reports that it has purchased Iranian crude, calling these reports “baseless”.  As reported by news agency IANS, reports earlier claimed that RIL had purchased 5 million ​barrels of Iranian crude after the US administration temporarily removed sanctions on ‌Iranian oil at sea. According to the report, RIL bought the oil from the National Iranian Oil Co. However, clarifying the rumours, RIL, while issuing an official statement, wrote, “Reliance Industries Limited categorically rejects recent media reports that the company has purchased crude oil of Iranian origin. These reports are baseless, leading to misleading and incorrect claims,” as cited by IANS.  RIL further urged the media outlets concerned to verify facts before publication. US Treasury Secretary on oil crisis Last week, the US issued a short-term authorisation allowing the sale of Iranian oil already stranded at sea, a move the Donald Trump administration says will quickly boost global supply while maintaining pressure on Tehran, according to the Treasury Department and reports. Treasury Secretary Scott Bessent …

Fuel crisis LIVE: India has 60-day crude stock, no supply shortage, says government

Fuel crisis LIVE: India has 60-day crude stock, no supply shortage, says government

Published by Parlour News

Chhattisgarh caps commercial LPG supply, sets timeline for domestic refill booking The Chhattisgarh Government has capped the supply of commercial LPG cylinders at 20% of the previous month’s consumption, while directing time-bound online refill booking for domestic consumers, officials said on Thursday (March 26, 2026).  Based on available stock, priority categories for LPG supply have been identified. These include educational institutions, hospitals, military and paramilitary camps, jails, hotels, social welfare institutions, railway and airport canteens, government offices, guest houses, animal feed units, and restaurants, an official statement said. The decision was taken on Wednesday during a review meeting of regional managers of oil companies, chaired by the state’s food department secretary, Reena Baba Saheb Kangale, to assess LPG availability and streamline the distribution system in the state amid supply concerns following the West Asia conflict. -PTI Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Rupee slips to 93.73 against dollar as crude prices rise amid Iran uncertainty

Rupee slips to 93.73 against dollar as crude prices rise amid Iran uncertainty

Published by Webster

The Indian rupee started Tuesday’s trading at 93.66 per US dollar before slipping to 93.73, down 20 paise from Monday’s close. The local unit had hit a record low of 93.98 against the greenback in the previous session, the PTI reported. Analysts attributed the weakness to rising crude oil prices and ongoing tensions in West Asia. Why exactly is Rupee crashing? Crude oil and FII outflows weigh heavily on rupee. Rising global crude oil prices, a key concern for India as a net importer, added further pressure on the currency. The more the demand for USD, the more rupee crashes. Brent crude futures were trading at USD 103.9 per barrel. Analysts warn that sustained high oil prices may increase inflation and widen India’s import bill, negatively affecting growth projections, the news agency reported. Heavy foreign institutional investor (FII) outflows also contributed to the rupee’s weakness, with equities sold worth Rs 10,414 crore on Monday as per exchange data. Meanwhile, domestic markets showed resilience, with the Sensex rising 829 points to 73,525 and the Nifty up …