Oil Price

Aramco said it benefited from higher prices of crude oil, refined fuels and chemical products during the quarter, according to a stock exchange filing

Sharp decline in spot crude premiums offsets surge in Brent prices, offering partial relief to Indian oil marketing companies as global supply disruptions reshape pricing dynamics

Oil marketing companies are selling petrol and diesel at a loss of Rs 14 per litre and Rs 18 per litre, respectively, as elevated crude prices outpace capped retail fuel rates, squeezing marketing margins. Besides losses on petrol and diesel, the elevated energy prices post West Asia crisis are likely to leave companies with an under recovery of Rs 80,000 crore on cooking gas LPG in the current fiscal, while fertiliser subsidy is projected to rise to Rs 2.05 to 2.25 lakh crore. Rating agency Icra said supply disruptions in the Strait of Hormuz - handling around 20 per cent of global oil and LNG trade - have tightened availability of fuels, fertilisers and chemicals, pushing up prices and increasing cost pressures across downstream industries. Crude prices before the West Asia crisis broke out two months back were around USD 70-72 a barrel. "The stable pump prices for auto fuels amid elevated crude oil prices are impacting the profitability of the oil marketing companies (OMCs)," sa

The brokerage said that although domestic equity valuations have corrected from their peaks, they ​may appear expensive again as earnings downgrades filter through

US West Texas Intermediate crude futures settled down $10.48, ‌or 11.45 per cent, at $83.85 a barrel, after touching a low of $80.56

Crude oil prices fell a little over 2 per cent to Rs 8,396 per barrel in futures trade on Friday amid signs of a potential US-Iran agreement and easing geopolitical tensions dampening fears of prolonged supply disruptions. Crude prices for May delivery decreased by Rs 180, or 2.1 per cent, to Rs 8,396 per barrel on the Multi Commodity Exchange. "Crude futures declined after US President Donald Trump expressed optimism over a potential agreement with Iran, easing concerns over prolonged supply disruptions," Kaveri More, Commodity - Technical Research at Choice Broking, said. Trump indicated that Tehran may accept terms, including abandoning nuclear ambitions, reopening the Strait of Hormuz, and offering "free oil," though there has been no official confirmation from Iran. In the international market, oil futures remained below USD 100 per barrel as investors turned hopeful about a near-term resolution to the conflict in West Asia. West Texas Intermediate (WTI) for the May contract

The rupee appreciated by 6 paise to 93.27 against the US dollar in early trade on Thursday, driven by retreating crude oil prices and a weakening American currency, amid hopes of a truce in West Asia. According to forex analysts, crude oil prices hovering below the USD 95-a-barrel level sent positive cues to investors in domestic equities, even though the outflow of foreign capital and demands for dollars from importers resisted a sharp recovery in the rupee. At the interbank foreign exchange market, the rupee opened at 93.29 and gained further, trading at 93.27 against the greenback in early deals, up 6 paise from its previous closing level. On Wednesday, the rupee gained 2 paise to settle at 93.33 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was lower by 0.12 per cent at 97.72. Brent crude, the global oil benchmark, was trading marginally up by 0.02 per cent at USD 94.95 per barrel in futures trade.

Japan's benchmark Nikkei 225 lost 1.0 per cent in morning trading to 56,357.40; South Korea's Kospi dipped 1.1 per cent to 5,795.15

Both benchmark prices fell below $100 per barrel in the previous trading session, with WTI recording its biggest decline since April 2020 on expectations the ceasefire ending the fight

Adding to supply concerns, Russia on Monday said Ukrainian ‌drones attacked ​the Caspian Pipeline ​Consortium's terminal on the Black Sea, which handles 1.5 per cent of global oil supply

State oil producer Saudi Aramco will increase flagship Arab Light crude prices for May sales to a premium of $19.50 over regional benchmarks for refiners in Asia

President Donald Trump has not got the quick, decisive victory he wanted. The Iranian government has not imploded following the killing of its Supreme Leader and around 40 senior leaders

Oil dropped sharply from the previous sessions, when Brent touched a six-month high and ​WTI was hovering near its highest since late September on mounting tensions between the United States and Iran

The recent surge in oil prices to a 4.25-month high, with Brent briefly touching $70.50, is largely driven by a shift in US policy

Crude oil outlook: Geopolitical tensions have driven crude oil prices to a three-month high, with WTI trading just under $63 and Brent approaching the $67 resistance level

Global oil prices have shown remarkable resilience amid softer economic data from two major consumers: the US and China

Short-term weakness masks the supply crunch building later in the decade as demand stays firm and forward prices mislead again

The decline reflects a US-led trade war, exacerbating oversupply amid Opec+'s 2.72 mb/d restoration and a 0.5 mb/d surplus

India mainly buys palm oil from Indonesia and Malaysia, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine

This week, Jamnagar was the backdrop for a grittier story: Its oil - some of which is imported from Russia - has become a sticking point in US-Indian relations