Oil Prcies

The US last issued a waiver for the Jones Act in October 2022 for a tanker heading to Puerto Rico to deliver supplies follow Hurricane Fiona

Brent futures extended gains to climb up $8.05, or 8.8 per cent to $100.03 at 10:25 a.m. ET or 1425 GMT, while U.S. West Texas Intermediate crude climbed $8, or 9.2 per cent to $95.25

Oil prices jumped more than 9 per cent to nearly $100 a barrel

The most immediate impact would be on India's current account deficit. This concern has pushed the rupee to a record low and forced the central bank to sell dollars from its reserves

The US will begin releasing the oil next week, although it could take around 120 days to deliver the full quantity

S&P Global Ratings on Wednesday said profit margins of oil marketing companies like IOC, BPCL and HPCL, could suffer as they are likely to keep retail prices of petrol and diesel unchanged to curb inflationary pressures. Oil prices have risen since the start of the US-Iran war with crude rising to over USD 100 per barrel earlier this week as the Strait of Hormuz, which handles about a fifth of the global crude oil and liquified natural gas (LNG) flows, remained effectively closed. Crude prices have fallen to USD 88 a barrel on Wednesday. S&P Global Ratings have recently revised its 2026 average price assumption for Brent crude oil prices by USD 5 to USD 65. The US-based rating agency said India will remain dependent on maritime routes to fulfil its crude needs, but there is some scope for diversification as the country has a history of buying oil from outside Asia, such as from Russia and South America. Purchases from Russia currently stand at 1.1 million bpd, while that from .

The impact of global crude price rise on inflation is not estimated to be substantial at this point as India's inflation is near the lower bound, Finance Minister Nirmala Sitharaman said on Monday. In reply to a written question in the Lok Sabha, Sitharaman said the price of both global crude oil and the Indian basket has been on a declining trajectory for the past one year, till the geo-political clashes commenced in West Asia on February 28, 2026. "Between the end of February and untill March 2, 2026, the Crude Oil FOB Price (Indian Basket) rose from USD 69.01/barrel to USD 80.16/barrel. Given that India's inflation is near the lower bound, the impact on inflation is not estimated to be substantial at this point," Sitharaman said. She was replying to a question on whether the government has reviewed the impact of rising global crude oil prices on inflation in the country. Global crude prices have been rising since February 28 when the US and Israel launched military strikes on Ir

Oil prices have soared in the week since the US and Israel launched their war against Iran, but President Donald Trump on Saturday downplayed the idea of turning to America's Strategic Petroleum Reserve to ease the pressure. Trump was asked by reporters on Air Force One about whether he would consider tapping the reserve. As the war continues to escalate across the Middle East, including in areas critical to the production and movement of oil and gas, that has strained the energy sector globally. In the US, consumers are already facing higher gas prices, a key cost of living. "We have got a lot of oil. Our country has a tremendous amount," Trump said. "There is a lot of oil out there. That will get healed very quickly." Trump's Republican Party is under pressure over the issue of affordability ahead of November mid-term elections. Tapping the reserve is among the few things a president can do on his own to try to make an impact on oil prices. Here is a look at what would be ...

Brent crude was trading up $1.67, or 2.05%, at $83.07 per barrel by 0141 ‌GMT. US West Texas Intermediate crude rose $1.94, or 2.60%, to $76.60

Sensex Today | Stock Market LIVE Updates, Monday: The GIFT Nifty indicated a sharply lower open for the benchmark Nifty50 index amid rising geopolitical tension between the US and Iran

Brent crude futures were ​down $1.73, or 2.5 per cent , at $67.73 per barrel at 1402 GMT. US West Texas Intermediate crude was down $1.67, or 2.5 per cent , at $63.47

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.

Fears of renewed trade war escalated after Trump said he would impose additional 10% levies from February 1 on goods imported from European nations if no deal on Greenland was reached

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

On January 3, the US launched a large-scale operation in Venezuela's capital Caracas and captured President Nicolás Maduro and his wife Cilia Flores

The deal between Washington and Caracas could initially require cargoes that were bound for China to be rerouted, sources told Reuters

Japanese shares weighed down regional equity benchmarks, while commodity shares were broadly higher after an overnight surge in industrial metals prices

This comes amid the International Energy Agency forecasting a supply this year of 4 million barrels per day, equivalent to 70 per cent of India's oil demand

U.S. crude and fuel inventories rose last week, market sources said, citing American Petroleum Institute figures on Tuesday

Middle East crude benchmarks Dubai and Murban gained this month on the back of robust demand for high-sulphur oil in Asia