All posts tagged: crude

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`

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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

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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 …

West Asia conflict: PM Modi says India has adequate crude storage and arrangements for supplies despite ‘serious crisis’ | India News

West Asia conflict: PM Modi says India has adequate crude storage and arrangements for supplies despite ‘serious crisis’ | India News

Published by Parlour News

Seeking to reassure Parliament and the country, Prime Minister Narendra Modi Tuesday said in Rajya Sabha that India has adequate crude oil storage facilities and arrangements for continuous supply, despite the “serious energy crisis” created by the war in West Asia, which has entered its fourth week. Speaking in the Upper House a day after he made a statement in Lok Sabha, Modi said it was essential that India’s Parliament spoke with one voice on peace and dialogue. He stressed that India’s aim was to bring peace to the embattled region through dialogue and diplomacy, and that it had discussed de-escalation and the opening of the Strait of Hormuz. In his opening remarks, Modi acknowledged the strain the conflict was placing on India’s energy supplies, calling it “worrisome,” and said petrol, diesel, gas, and fertiliser supplies were affected. He also said the fate of one crore Indians living and working in the Gulf countries was a matter of concern for the government. From the beginning of the war till now, 3.75 lakh Indians have returned …

Indian tanker Jag Laadki docks at Mundra with 80,000 MT crude oil

Indian tanker Jag Laadki docks at Mundra with 80,000 MT crude oil

Published by Webster

The Indian-flagged crude oil tanker Jag Laadki has safely docked at Adani Ports’ Mundra terminal in Gujarat, carrying approximately 80,886 metric tonnes of crude oil sourced from the United Arab Emirates, officials confirmed on Wednesday, reported news agency IANS. The vessel was loaded at Fujairah Port and reached Mundra amid heightened global energy concerns and ongoing disruptions in key shipping routes. Major crude shipment reaches Indian shores Port authorities said the tanker berthed at Mundra following standard maritime coordination and safety procedures. The cargo is expected to be discharged for refinery operations, contributing to India’s fuel supply stability, reported IANS. A spokesperson for Adani Ports said the terminal continues to play a key role in handling critical energy imports and ensuring seamless logistics for the country’s energy needs. Vessel specifications highlight capacity The Jag Laadki is a large crude carrier, measuring 274.19 metres in length with a beam of 50.04 metres. It has a deadweight tonnage of approximately 1,64,716 tonnes and a gross tonnage of around 84,735 tonnes, making it capable of transporting substantial volumes …

Crude oil prices rebound amid West Asia war concerns over supply disruptions

Crude oil prices rebound amid West Asia war concerns over supply disruptions

Published by Webster

Amid the escalating West Asia War, crude oil prices once again rebounded by Rs 261 to Rs 8,981 per barrel in futures trade on Tuesday. The surge happened amid firm global trends and uncertainty over supply disruptions due to the ongoing conflict in West Asia. As reported by PTI, crude oil on the Multi Commodity Exchange (MCX) for March delivery increased by Rs 261, or 3 per cent, to Rs 8,981 per barrel in a business turnover of 12,183 lots.  However, earlier on Monday, it declined by Rs 332, or nearly 4 per cent, to close at Rs 8,720 per barrel. The April contract also appreciated by Rs 305, or 3.52 per cent, to Rs 8,978 per barrel in 13,778 lots. In the previous session, it had dipped by Rs 270, or 3 per cent, to settle at Rs 8,673 per barrel on the MCX. Expert opinion Analysts, while expressing their views on crude oil prices, said that the rebound after a sharp correction in the previous session continues to weigh on evolving geopolitical developments …

Indian crude tanker sails out of UAE safely amid West Asia war

Indian crude tanker sails out of UAE safely amid West Asia war

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An Indian-flagged crude tanker sailed out safely from the UAE’s Fujairah after loading oil, despite an attack on the oil terminal. The vessel, Jag Laadki, carrying about 80,800 tonnes of Murban crude oil, departed Fujairah at 1030 hrs IST for India, with all crew members safe. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever 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