Crude Oil Price Spike

At 6:38 AM, GIFT Nifty Futures were trading 114 points lower at 24,871, indicating a potential gap-down opening for Indian markets.

At 6:40 AM, GIFT Nifty futures were trading 89 points higher at 25,262 levels, suggesting a robust opening for the markets.

Both oil benchmarks broke a three-session declining streak on Tuesday, and tensions in the Middle East continued to stoke supply concerns in Wednesday's trading session

After witnessing sustained moderation, cost push pressures faced by firms, the RBI said, are showing upward bias

India raised its windfall tax on petroleum crude to 3,200 rupees/ton from 1,700 rupees from Saturday while keeping the windfall tax on diesel and aviation turbine fuel at zero

Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody's Investors Service said. Three state-owned fuel retailers -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in first half of 2022-23 fiscal year before easing oil prices propelled them to profitability. International oil prices have firmed up since August, leading to margins of three retailers turning negative again. "High crude oil prices will weaken the profitability of the three state-owned oil marketing companies in India -- IOC, BPCL and HPCL," Moody's said in a report. "The three companies will have limited flexibility to pass on higher raw mate

Brent crude oil prices have slipped nearly 15 per cent in the last few weeks, from a peak of around $98 a barrel to a little over $83 a barrel now despite OPEC+ cutting supply

A sustained rise in crude oil prices led to inflation. Should Indians resign to the fact that food prices and retail inflation will continue to stay high? Or, will rain gods provide some relief?

March inflation has surged to 6.95% in India. The government, however, is keen to share some burden if oil prices remain above $ 110 per barrel mark. But is there a relief in the offing?

March inflation has surged to 6.95% in India. The government, however, is keen to share some burden if oil prices remain above $ 110 per barrel mark. But is there a relief in the offing?

Brent crude rose to as much as USD 103.78 a barrel, the highest since August 14, 2014, and was at USD 103.40 at 1500 hrs, up USD 6.71, or 6.93 per cent

Oil prices climbed towards their highest levels in more than seven years on Monday on fears that a possible invasion of Ukraine by Russia could trigger sanctions (on the latter) from US and Europe

Oil prices rose on Friday as an uprising in Kazakhstan stoked worry that crude supply from the OPEC+ producer could be disrupted at the same time output has dropped in Libya

"Situation of state-run Discoms are very bad and are running on losses. In power, their principle is 'more generation, more losses, no generation, no losses', Gadkari said.

While there was no need for subsidy in the low-oil-price phase of 2020, LPG prices have zoomed in 2021. But the Centre has not transferred subsidy at any point this year

Fresh from their longest rally in 20 months, many currencies foundered after the weekend drone attack on the Saudi Aramco installations led Riyadh to halve production

Since the country is heavily dependent on oil imports to the tune of over 80% for meeting its domestic demand, it remains susceptible to global crude price shocks

Surge in crude oil prices not only increases the burden on retail fuel consumers in India but also presents the Narendra Modi-led central govt with a dilemma over whether or not to intervene

US crude inventories fell by 1 million barrels last week to 428 million barrels

For many investors, it's all about backwardation. As oil supplies have tightened, near-term contracts have become pricier than later-dated ones