Crude Oil

India will soon receive two cargoes each of crude oil and LNG via routes bypassing the Strait of Hormuz as refiners boost LPG production to ease supply pressures

The rupee weakened to 92.04 per dollar on Wednesday as rising crude oil prices, geopolitical tensions in West Asia and equity outflows weighed on the currency

A sudden spike in crude oil prices rattled global markets and triggered a sharp fall in Indian equities. The Sensex plunged over 2,700 points intraday, while the Nifty slipped below the 24,000 mark.

Kharg Island handles most of Iran's oil exports and is vital to its economy. Despite rising Israel-Iran tensions and strikes on other targets, the small Gulf island has remained untouched so far

Oil prices have already risen 23.6 per cent, from about $72 per barrel a day before the war began on February 28 to around $89 per barrel now

The retail prices of petrol and diesel currently stand at ₹94.77 per litre and ₹87.67 per litre, respectively, in Delhi, compared to ₹110.04 per litre and ₹98.42 per litre, respectively, in Nov 2021

According to analysts, the broader weakness in metal stocks reflects the risk-off sentiment across global markets amid rising geopolitical tensions

The war has significantly disrupted energy markets and heightened concerns about supply flows through the Strait of Hormuz, one of the world's most critical oil shipping routes

Asian buyers are rushing to secure fuel supplies to offset production losses from expected refinery run cuts as the near-halt in traffic in the Strait of Hormuz constrains oil supply to the region

There's around 15 million barrels of Russian crude on tankers in the Arabian Sea and the Bay of Bengal, while vessels carrying another 7 million are idling near Singapore

Asian refiners are struggling to secure prompt replacement crude cargoes as Iranian threats to shipping through the Strait of Hormuz have disrupted crude oil flows

India is vulnerable to supply ‌shocks, with crude stocks covering only about 25 days of demand, while refiners hold similarly limited inventories of gasoil, gasoline and liquefied petroleum gas

The combined market capitalisation of all BSE-listed companies has fallen by more than ₹21 trillion over the past three sessions

The "war premium" has pushed Brent crude toward the $100 per barrel threshold, reigniting stagflation ary fears that central banks thought they had conquered

Copper and aluminium prices are surging, crude is climbing and the rupee is weakening, raising input costs for appliance makers as geopolitical tensions strain supply chains

India holds around 25 days of crude and petroleum products and may diversify crude sourcing as the Strait of Hormuz faces disruptions, Oil Minister Puri said

India holds about 100 million barrels of commercial crude oil stocks - in storage tanks, underground strategic reserves and on ships voyaging towards the country - which could cover roughly 40-45 days of its requirement if flows through the Strait of Hormuz are disrupted, according to Kpler. India imports about 88 per cent of the crude oil it needs - the raw material for fuels such as petrol and diesel - with more than 50 per cent supplied by Middle Eastern countries and transiting the narrow Strait of Hormuz, flows from which have been disrupted amid the Iran crisis. If Middle Eastern crude supply were to halt completely for a temporary period, the immediate impact would be logistical and price-driven, with supply risks intensifying if movement through the Strait of Hormuz is disrupted for longer, said Sumit Ritolia, Lead Research Analyst, Refining & Modeling at Kpler. A closure of Strait of Hormuz would at first impact prompt cargo liftings. "However, refiners typically maintain

Indian refiners are diversifying crude sourcing to bypass the Strait of Hormuz and tapping inventories as the West Asia crisis disrupts key routes that handle over half of India's oil and gas imports

Oil jumps up to 13% after Iranian attacks disrupt shipping through the Strait of Hormuz, raising fears of inflation and higher US gasoline prices

Timing of the new US-Israel bombing of Iran and Tehran's response couldn't be worse for India