Crude Oil

Best of BS Opinion: RBI strategy, Greenspan's legacy, and Kolkata's renewal

Today's opinions explore India's forex reserve strategy, Alan Greenspan's complex legacy, West Bengal's urban renewal agenda, maize-led farm growth and China's coercive diplomacy

Russian oil imports may hit record high in June on discounts, supply curbs

Until June 20, Russia contributed to nearly 50 per cent of India's total crude oil imports in the month, showed data from maritime intelligence firm Kpler

US authorises Iranian oil sales as talks advance towards final peace deal

The United States has temporarily eased sanctions on Iranian oil exports, linking the move to commitments by Tehran on nuclear inspections and free transit through the Strait of Hormuz

What's inside the US-Iran peace deal? | Trump | Strait of Hormuz | Crude oil | Nuclear programme

The United States and Iran have reached an agreement to end the war and open the Strait of Hormuz, offering relief to the global economy more than three months since the conflict began.

Why a peace deal won't solve India's stock market problems | Sensex | US-Iran war | Crude oil

The US-Iran peace deal has lifted global sentiment, pushed oil prices lower, and sparked a rally in Indian stocks. But does this mark the beginning of a sustained recovery for Indian markets?

Iran resumes crude exports from Kharg Island after US lifts blockade

Iran has been the early winner from the easing of tensions with the US following the signing of an interim peace deal and has wasted no time in resuming oil exports

Three India-flagged oil tankers cross Hormuz with 94 crew onboard

Three Indian-flagged crude oil tankers carrying over 8.6 lakh million tonnes of cargo with 94 crew members from the country transited through the Strait of Hormuz on Saturday and are en route to India, Union Minister Sarbananda Sonowal said. The three crude oil tankers -- Desh Vaibhav, Desh Vibhor, and Sanmar Herald -- are expected to arrive in India between June 24 and July 1. While Desh Vaibhav is expected to reach Vadinar Port on June 24, Desh Vibhor is likely to arrive at Sikka Port the same day. Sanmar Herald, the third Indian-flagged oil tanker to cross the Strait of Hormuz on Saturday, is scheduled to reach Paradip on July 1. "3 Indian-flagged crude oil tankers, Desh Vaibhav, Desh Vibhor and Sanmar Herald carrying over 8.6 Lakh MT of cargo with 94 Indian crew members have successfully transited the Strait of Hormuz today and are en route to India," Minister of Ports, Shipping & Waterways Sonowal said in a post on X. "Under the decisive leadership of Hon'ble PM Shri ...

Who controls the future? Oil, AI and power | US-Iran peace deal | Oil price | Macro Matters Ep 3

In this episode of Macro Matters, veteran journalist A. K. Bhattacharya joins us for a wide-ranging discussion on the forces shaping the future of global power.

Supertankers with 80 million barrels of oil ready to pass through Hormuz

Data from Vortexa shows most cargoes are destined for Asia, with several tankers already indicating routes toward China and regional transshipment hubs in Southeast Asia

Iranian oil may return to India as US-Iran peace boosts Chabahar project

The proposed US-Iran agreement could revive India's crude imports from Iran, improve energy security and provide renewed momentum to the strategically important Chabahar Port

A wave of oil from the Persian Gulf set to leave Asian refiners swamped

Around 31 supertankers, capable of carrying about 62 million barrels of crude, are stuck inside the Persian Gulf and set to sail out once the waterway opens up

Fuel prices can't be cut immediately after global rates fall: Suresh Gopi

Union Minister Suresh Gopi on Thursday said that the fuel prices cannot be reduced immediately when the rate of global crude comes down as it involves many factors, including the time taken for the cheaper oil to reach India. Gopi, the Union Minister of State for Petroleum, Natural Gas and Tourism, said of the recent hike in fuel prices, only an increase of around Rs 3.94 per litre has made an impact, but it cannot be immediately rolled back just because the cost of crude has gone down globally. "It will take time as the cheaper crude has to be transported to India via Strait of Hormuz, which will see an excessive traffic of ship movement. So things will have to be normalised," he told reporters here. He further said that since the war broke out in West Asia in February this year, the oil companies were impacted in a big way and the central government absorbed the impact to a good extent. "By absorbing the impact, the Centre lost Rs 12,000 crore. None of the states reduced their ..

CEEW flags risks to India's energy security from import exposure

The think tank recommends diversifying crude and LNG suppliers, expanding strategic reserves and modernising refineries to reduce vulnerabilities to supply shocks

Back to the cradle of India's oil industry amid Northeast energy push

A tripartite pact - amid the promise of removing Afspa from almost all of the Northeast - revives hydrocarbon exploration along the Assam-Nagaland border after decades of dormancy

India has adequate crude oil, LPG and gas stocks, says Hardeep Puri

Petroleum minister says fuel prices in India fell 3.1 per cent from May 2022 to May 2026 even as rates rose sharply in several countries

Datanomics: The collapse and return of Venezuela oil trade with India

Venezuela's return as a top crude supplier highlights how oil alone has shaped India-Venezuela trade, from a $14-billion peak to near-collapse and revival

Rupee appreciates beyond 95 briefly as dollar positions unwind on oil slide

The rupee appreciated sharply and government bond yields eased as lower crude oil prices and hopes of a US-Iran agreement improved investor sentiment

'Bear beneath the barrel': Mirae Asset sees weak demand limiting oil rally

The path of least resistance for Brent over the next two quarters appears skewed to the downside, with Brent prices likely drifting below $90/bbl

Indian refiners secure crude, LPG supplies till August despite Iran war

Indian refiners, including Indian Oil Corp and Mangalore Refinery and Petrochemicals Ltd, ‌have also purchased crude through spot tenders in recent weeks