Crude Oil

The government has imposed a special additional excise duty to discourage exports. Crude oil supplies are lower, so is refining throughput

A fresh surge in crude oil prices amid West Asia tensions threatens to weaken India's growth outlook while pushing inflation higher in FY27

Supply disruptions in West Asia and Strait of Hormuz closure prompt India to recalibrate sourcing, with Venezuela and Brazil replacing Iraq and the US in April

Rating agency flags divergence between global and domestic oil demand trends as imports outpace exports, putting pressure on India's overall trade balance

The rupee fell to a record closing low of 94.85 per dollar, pressured by rising crude prices, foreign outflows and a stronger US dollar

Oil marketing companies are selling petrol and diesel at a loss of Rs 14 per litre and Rs 18 per litre, respectively, as elevated crude prices outpace capped retail fuel rates, squeezing marketing margins. Besides losses on petrol and diesel, the elevated energy prices post West Asia crisis are likely to leave companies with an under recovery of Rs 80,000 crore on cooking gas LPG in the current fiscal, while fertiliser subsidy is projected to rise to Rs 2.05 to 2.25 lakh crore. Rating agency Icra said supply disruptions in the Strait of Hormuz - handling around 20 per cent of global oil and LNG trade - have tightened availability of fuels, fertilisers and chemicals, pushing up prices and increasing cost pressures across downstream industries. Crude prices before the West Asia crisis broke out two months back were around USD 70-72 a barrel. "The stable pump prices for auto fuels amid elevated crude oil prices are impacting the profitability of the oil marketing companies (OMCs)," sa

The UAE, with capacity of around 4.8 million barrels per day, has long been one of the most influential and compliant members of Opec+, and is currently the fourth-largest producer in the alliance

Market participants said that state-owned banks bought dollars, likely on behalf of the Reserve Bank of India (RBI) - a move which avoided further depreciation

Experts said the crisis in West Asia is likely to prompt producers like Saudi Arabia, the UAE and Qatar to participate in building oil reserves in major consuming nations like India

India’s core industries, the backbone of industrial growth, just had their weakest year in five years. A sharp March contraction, driven by energy shocks and input shortages,

West Asia conflict and strained global supplies tighten India's oil cushion, raising risks of a crude crunch despite refiners tapping inventories

Government bond yields ended marginally lower after volatile trading, while the rupee stayed under pressure due to rising oil prices, global cues, and foreign outflows

Benchmark indices fell as IT stocks slumped and crude oil prices surged, with geopolitical tensions and profit-booking weighing on investor sentiment

Crude import bill declines despite higher prices as supply disruptions from West Asia reduce volumes, while petroleum exports and net oil imports also fall

India is relying on Russian oil to meet most of its demand using a temporary waiver as the US-Israeli war on Iran keeps the Strait of Hormuz effectively closed

More than 500 million barrels of crude and condensate have already been knocked out of the global market

The Iran-US-Israel conflict effectively shuttered the Strait of Hormuz, the artery of India's oil trade

The impact of the war on energy infrastructure is considerably more severe than futures prices currently imply

Equity markets surged as easing crude oil prices and optimism over renewed US-Iran talks boosted sentiment, lifting benchmark indices to their highest levels in over a month

India was once among the largest importers of Iranian crude, attracted by favourable pricing, extended credit terms, and logistical advantages