Crude Prices

From US foreign policy risks and India's labour data changes to bear market fears and FCRA concerns, today's Best of BS Opinion brings together key insights shaping global and domestic debates

The government may announce more relief packages for vulnerable segments of the economy, including the MSME sector, to help them sustain and keep inflation under check in the domestic market if the West Asia crisis prolongs further, sources said. The government has announced a slew of measures, including cutting excise duty on petrol and diesel during the month and will not hesitate to announce more to shield the vulnerable sectors of the economy, sources said. The government slashed the excise duty on petrol to Rs 3 a litre and exempted diesel from the duty to protect consumers from the impact of rising global crude prices amid the ongoing war in the Middle East. Alongside, the government brought back duties on the export of diesel and aviation turbine fuel (ATF) to improve domestic availability. Global crude prices have risen by almost 50 per cent since the United States and Israel launched military strikes against Iran on February 28, triggering sweeping retaliation from ...

Rising crude and gas prices are set to squeeze margins of paint companies, even as demand remains stable and firms announce staggered price hikes to offset costs

On the Multi Commodity Exchange (MCX), crude oil for March delivery increased by ₹119, or 1.31 per cent, to ₹9,171 per barrel in a business turnover of 12,745 lots

Rising crude prices and trade disruptions from the West Asia war are prompting economists to trim India's growth forecasts, threatening the economy's recent "sweet spot"

Avoid panic selling, keep SIPs going: Past wars caused transitory selloffs

Oil prices spike past $100 amid Iran war and supply cuts, raising fears of a sharply higher import bill, inflation and current account deficit for India

Surging Brent crude and tensions near the Strait of Hormuz threaten to keep Indian markets volatile, with investors watching inflation data and foreign fund flows

Despite oil prices staying relatively contained amid the crisis, with traders warning of $100 crude, the impact is already being felt across Asia, the world's largest energy-consuming region

Rising crude costs, reduced access to discounted Russian oil and heavy capex may pressure OMCs, though strong GRMs, demand growth and LPG subsidies support profits

WTI crude oil prices opened weaker, tumbling over 4 per cent in early trading, a sharp reversal from the prior week's modest 2.2 per cent.

The Indian currency settled at 86.75 per dollar, against the previous close of 86.59 per dollar

US West Texas Intermediate crude was up $5.38, or 7.91 per cent, at $73.42 a barrel after hitting a high of $74.35, the loftiest since February 3

Downstream businesses like the oil marketing companies (OMCs) and gas players gain

The rupee settled at 86.05 per dollar on Friday, against 86.70 per dollar on Thursday. Last week, it had settled at 85.23 per dollar

Resumption of more frequent revision in retail prices could be a driver. Policy risk appears low

The rupee traded in an almost flat note and settled 1 paisa lower at 84.43 (provisional) against the US dollar on Tuesday, as support from positive domestic equity markets and lower crude oil prices was negated by strength of the American currency in the overseas market. Forex traders said the Ukraine-Russia war took a new turn with Russia updating its nuclear doctrine and Ukraine aimed American missiles at Russia. Safe haven assets like Gold, JPY and CHF and to some extent dollar were bought and rupee felt the heat and was sold at the closing hours. At the interbank foreign exchange, the rupee opened at 84.39 and stayed range-bound throughout the session. It finally settled at 84.43 (provisional) against the greenback, down 1 paisa from its previous close. On Monday, the rupee recovered from its lowest level of 84.46 to settle 4 paise higher at 84.42 against the US dollar. Praveen Singh, Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, said the USD-I

Brent crude prices fell to a 33-month low last week amid oversupply concerns

The WTI holding on to support of $78 in Asian hours, retreating from three weeks high of $79.12. hit on Wednesday

Crude oil prices have corrected significantly after posting 16 per cent gains for Q1-2024. However, since April the oil prices have lost roughly 7 per cent of their value, amid the easing of tensions