Crude Oil

Iran war prompted India to change crude formula to fix 3-year inaccuracy

Old formula did not represent the price paid by Indian refiners

Oil markets scramble for supplies as West Asia shortfall drives prices

Traders said the panicky moves across the world's key physical oil markets demonstrated the scale of the shortfall that's due to be felt as loss of supplies from the West Asia leaves a growing gap

'Waiting for you': Trump says tankers heading to US for 'sweetest' oil

In a statement shared on Truth Social, Trump claimed that a significant fleet of vessels is currently en route to American shores

Reliance seeks govt nod to buy Iranian crude ahead of US waiver deadline

Indian refiners stepped up purchases of Russian oil after the Trump administration granted waivers that are set to expire this month

After 7-yr delay, Odisha hands over land for Chandikhol oil reserve project

After more than seven years of delay, Odisha hands over land for Chandikhol oil reserve project, paving the way for construction of a 4 million tonne strategic crude storage facility

Jio-bp not to raise fuel rates despite spike in international oil prices

Jio-BP, the fuel joint venture of Reliance Industries Ltd and BP Plc, does not plan to raise fuel prices immediately despite a spike in international oil prices, its chief executive Akshay Wadhwa said on Friday. The country's second-largest private fuel retailer has kept retail petrol and diesel rates steady, just like public sector firms, which have not passed on the surge in raw material (crude oil) cost to consumers for fear of spiking inflation. "We are in this with the country," Wadhwa said on the sidelines of an industry event here. The war in West Asia has driven international oil prices above USD 100 per barrel, but domestic consumers have been insulated by the oil companies and the government, which cut excise duty on petrol and diesel to obviate the need for raising prices to some extent. Nayara Energy, in which Russian oil giant Rosneft hold the largest shareholding, has increased petrol price by Rs 5 a litre and diesel by Rs 3. Nayara is the country's largest private fu

Day after relief rally: Mkts slip, crude spikes as US-Iran truce hopes fade

Benchmark indices fall sharply as rising oil prices and renewed geopolitical tensions weigh on sentiment, even as broader markets show resilience

Rupee snaps 5-day rally; bond yields rise on crude, US yield surge

Currency weakens and government bond yields rise as crude oil prices and US Treasury yields climb amid geopolitical tensions in West Asia

Oil, gas flows through Strait of Hormuz may take months to recover

Even as the Strait of Hormuz reopens, damaged oil and gas infrastructure across the Gulf could delay supply recovery and keep global energy prices elevated

Indian Oil buys first shipment of Iranian crude since 2019 sanctions

Curacao-flagged crude tanker Jaya, laden with Iranian oil, most recently indicated it is heading for India, according to ship-tracking data

India set to recieve first Iranian oil cargo in 7 years, shows data

Refiners ​have purchased ‌Iranian oil amid the ‌West Asia conflict that ‌has disrupted supplies ​through ​the Strait of Hormuz

Crude oil futures crash 6% to hit lower circuit after US-Iran ceasefire

Crude oil prices retreated sharply on Wednesday crashing by 6 per cent to hit their lower circuit level in futures trade, tracking weak global benchmarks after the US and Iran announced a two-week ceasefire. On the Multi Commodity Exchange (MCX), crude oil futures for the April delivery slumped by Rs 640, or 6 per cent, to Rs 10,029 per barrel -- its lower circuit limit. Similarly, the May contract declined by Rs 565, or 6 per cent, to Rs 8,860 per barrel, also hitting its lower circuit limit amid aggressive selling as easing tensions reduced fears of supply disruptions. Globally, oil prices retreated after the ceasefire announcement between the US and Iran, which is expected to restore supply flows through the Strait of Hormuz - a key transit route for nearly one-fifth of global oil shipments. West Texas Intermediate (WTI) crude futures for May delivery tumbled by USD 17.11, or 15.15 per cent, to USD 95.84 per barrel, while Brent oil for June contract plunged by USD 14.52, or 13.2

Iran ceasefire offers major boost to rupee ahead of RBI policy; oil plunges

The rupee is likely to open ‌in the 92.40-92.50 range versus the US dollar, having settled at 93.0075 on Tuesday

India returns to buying Venezuelan oil to ease supply crunch amid Iran war

India is set to import the most oil from Venezuela in almost six years as over 12 million barrels head to its west coast, reflecting a strategic shift amid West Asia supply disruptions

Asian shares mixed ahead of Trump's deadline for Iran to reopen Hormuz

Asian shares were mixed in cautious trading on Tuesday, as oil prices continued to surge ahead of a deadline that US President Donald Trump set for Iran to reopen the Strait of Hormuz to all shipping traffic or risk its power plants and bridges being bombed. Japan's benchmark Nikkei 225 erased earlier gains to decline 0.2 per cent in morning trading to 53,310.30. Australia's S&P/ASX 200 gained 1.5 per cent to 8,706.90. South Korea's Kospi was little changed, inching down less than 0.1 per cent to 5,445.80. The Shanghai Composite edged up 0.4 per cent to 3,896.98. Trading was closed in Hong Kong for a holiday. On Wall Street, stock prices drifted higher, with the S&P 500 rising 0.4 per cent, coming off its first winning week in the last six. The Dow Jones Industrial Average added 165 points, or 0.4 per cent, and the Nasdaq composite climbed 0.5 per cent. In energy trading, benchmark US crude jumped USD 2.37 to USD 114.78 a barrel. Brent crude, the international standard, added .

Russia offers to 'steadily increase' crude oil, LNG supplies to India

Russia signals readiness to boost oil and LNG supplies as India faces energy stress amid West Asia conflict and rising import dependence

West Asia crisis: Russia offers to boost crude, LNG supplies to India

With the West Asia crisis continuing to drive volatility in the global energy market, Russia has offered to increase supply of crude oil and natural gas to India even as the two sides agreed to further enhance the overall bilateral ties. The energy cooperation figured prominently in meetings Russia's First Deputy Prime Minister Denis Manturov held with National Security Advisor Ajit Doval and External Affairs Minister S Jaishankar on Thursday, people familiar with the matter said. Manturov also held talks with Finance Minister Nirmala Sitharaman and called on Prime Minister Narendra Modi last evening. A Russian readout of the First Deputy Prime Minister's engagements in New Delhi said special attention was accorded to bilateral cooperation in the oil and gas sector. "Denis Manturov confirmed that Russian companies have the capacity to steadily increase supplies of oil and liquefied natural gas to the Indian market," it said. The comments came as the the West Asia crisis continued

Ship carrying Iranian oil shifts course from India to China mid-voyage

A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India - where it would have marked the first such shipment in nearly seven years - to China. The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler. There is no confirmation that the destination that the ship's Automatic Identification System (AIS) transponder - a tracking system mandated on most commercial vessels - is indicating is the final and it may not change at any time during the transit. "An Iranian crude vessel 'Ping Shun' that had been en route to Vadinar, India, over the past three days has dropped India as its declared destination near arrival and is now signalling China," said Sumit Ritolia, Lead Research Analyst, Refining and Modelling at commodity market analytic .

Datanomics: India's energy efficiency gains amid import woes deepen

Hormuz tensions strain India's fuel supply despite efficiency gains

Govt bond yields surge 9 basis points on rise in crude oil prices

Government bond yields climbed as crude oil and US Treasury yields rose, while improved liquidity conditions pushed overnight rates below the policy repo rate