Crude import bill declines despite higher prices as supply disruptions from West Asia reduce volumes, while petroleum exports and net oil imports also fall
The waiver comes despite earlier US reluctance, as war-linked supply disruptions and Strait of Hormuz curbs push oil prices higher and test Western efforts to restrict Russia's revenues
Indian refiners plan to continue sourcing Russian crude from non-sanctioned suppliers and vessels despite US decision not to renew temporary sanctions waivers
BPCL says investment in Brazil's SEAP-I project will provide access to equity crude, helping strengthen India's energy security and diversify supply sources
Brent futures are currently trading near $95/bbl after a 4.6 per cent correction, yet remain up 31 per cent since the start of the conflict, 56 per cent year-to-date
As the US plans a blockade of the Strait of Hormuz after failed Iran talks, here's a look at how wartime blockades -- from world wars to today -- have disrupted trade and daily life globally
War-driven oil disruptions are reshaping global energy markets, accelerating the shift to renewables while exposing deep vulnerabilities in energy security worldwide
Iran's warning over a possible Bab al-Mandeb closure has raised concerns over global trade. The strategic strait carries oil and goods between Asia, Europe and West Asia
India is set to import the most oil from Venezuela in almost six years as over 12 million barrels head to its west coast, reflecting a strategic shift amid West Asia supply disruptions
Oil grades from Texas and North Dakota to Alberta are surging as refiners compete with rivals in Asia and Europe for barrels after weeks of strangled shipments via the Strait of Hormuz
Escalating US-Iran conflict and oil disruptions threaten global stability, while shifting alliances signal a weakening of America's geopolitical influence
Iranian crude tanker reroutes from Gujarat to China amid tightening payment terms, underscoring rising sensitivity of oil trade flows during West Asia tensions
