Oil Market

Crude oil prices declined by Rs 190 to Rs 8,808 per barrel in futures trade on Friday as traders weighed the prospects of additional Iranian supply despite lingering geopolitical tensions in West Asia. On the Multi Commodity Exchange, crude oil for the April delivery ended its three-day rally, declining by Rs 190, or 2.11 per cent, to Rs 8,808 per barrel in a business turnover of 18,781 lots. Analysts said the fall in oil prices was driven by hopes of softening geopolitical risk premium following indications of a more pragmatic approach by the US towards Iranian crude supplies. In the overseas trade, West Texas Intermediate (WTI) futures for May delivery fell USD 1.85, or nearly 2 per cent, to USD 93.70 per barrel, while Brent Oil for the same month contract slipped 0.34 per cent to trade at USD 108.28 per barrel in New York. The dip in crude prices, now around USD 107 per barrel for Brent against a peak of USD 119, reflects a 'relief valve' moment, though tensions remain high, Aam

Dealers warn of reduced fuel orders as refiners end credit supply amid losses on petrol and diesel sales with retail prices unchanged

Asian nations seeking US energy to reduce reliance on West Asia

With Kharg Island handling most of Iran's crude exports, any disruption could intensify oil market volatility already driven by supply losses through the Strait of Hormuz

Oil prices could rise to $150 per barrel as a massive Gulf supply disruption forces demand destruction, with $200 possible if the conflict persists, says Wood Mackenzie

For oil analysts, executives and traders, that has meant ever-louder warnings that the war is bringing crude to a tipping point, and closer to the psychological $100-a-barrel threshold

Iran sits on one side of the Strait of Hormuz, the shipping lane for about a fifth of the world's crude from key suppliers including Saudi Arabia and Iraq

Crude oil prices are holding firm this week as tensions between Iran and the US temporarily ease after Donald Trump indicated he does not intend to launch military action.

The current upward trajectory is primarily driven by a toxic mix of heightened geopolitical risks in the Middle East, infrastructure disruptions in the Caspian region, and significant capital inflows

Analyze how the US capture of President Maduro impacts India's energy security, RIL, ONGC, and the stock market. Get expert views from PL Capital & Choice Equity

Oil price outlook: The most significant downward pressure on oil prices this month stems from renewed optimism regarding the conflict in Ukraine.

On the bourses, IGL share price rallied up to 5.54 per cent to an intraday high of ₹193.35 per share, while MGL share price rose up to 4.22 per cent to an intraday high of ₹1,159.25.

Oil marketing companies (OMCs) are poised for a sharp rebound, with operating profits expected to surge more than 50 per cent to USD 18-20 per barrel this fiscal year, driven by stronger marketing margins amid stable retail fuel prices and supportive crude oil dynamics, Crisil Ratings said on Friday. OMCs earn from refining (gross refining margins or GRMs) and from marketing of petrol, diesel, and other fuels. "This fiscal, the improvement in marketing margin will more than offset a moderation in refining margin owing to slow growth in global demand for fossil fuels as the world transitions towards cleaner energy sources," Crisil Ratings said in a note. Healthy profitability is set to bolster cash accruals to Rs 75,000-80,000 crore, compared with about Rs 55,000 crore last fiscal year. The stronger cash flow will support the sector's planned Rs 90,000 crore capex, largely focused on brownfield expansion and domestic demand-driven projects. Crude oil prices are expected to soften to

Rosneft, Lukoil major suppliers to India; crude import bill may rise by over ₹23K cr

Brent crude futures rose $1.29, or 2.1%, to $62.61 a barrel by 11:09 a.m. EDT (1509 GMT), while U.S. West Texas Intermediate crude futures climbed $1.34, or 2.34%, to $58.58

Brent crude futures fell $1.38, or 2.2%, to $61.94 a barrel by 1248 GMT, while U.S. West Texas Intermediate crude was down 2.3%, or $1.37, at $58.12. Both contracts were at a five-month low

In recent years, Beijing has pressed state-owned producers to invest in harder-to-access fields to reduce dependence on imports

OPEC+ has agreed in principle on a 137,000 bpd increase, three OPEC+ sources said ahead of an online meeting scheduled for 1100 GMT on Sunday

An industry body for sugar factories has written to the Centre seeking a revision of the tender, which has left procurement prices unchanged from last year, noting that sugarcane prices have gone up

OPEC+ has reversed its strategy of output cuts from April and has already raised quotas by more than 2.5 million barrels per day