Page 22 - Crude Oil Price

Slipping profits in Q4FY24 due to inventory loss, says Indian Oil

IOCL said crude throughput for Q4 reached record levels of 73,308 MMT in FY24

Shortage of heavy oil spells higher cost for shippers, road builders

Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and Russia had already led to shortages of heavier crude

HPCL, BPCL, IOC stocks rally up to 4% as oil dips on ME ceasefire hopes

According to reports, Egypt has revived stalled negotiations between the Israel-Hamas for a ceasefire agreement, thereby pushing crude oil prices lower.

Oil prices decline for third day as US crude production, inventories swell

US crude oil inventories swelled last week by 4.906 million barrels, while gasoline and distillate stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday

India's oil import bill could swell to $101-104 billion in FY25: ICRA

India's net oil import bill could widen to USD 101-104 billion in current fiscal from USD 96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of USD 7.9 billion in 11 months (April-February) of 2023-24, up from USD 5.1 billion in 2022-23. "With India's oil import dependency expected to remain high, if the discounts on purchases of Russian crude persist at the prevailing low levels, ICRA expects India's net oil import bill to widen to USD 101-104 billion in FY2025 from USD 96.1 billion in FY2024, assuming an average crude oil price of USD 85/bbl in the fiscal," ICRA said. Additionally, any escalation in the IranIsrael conflict and an associated rise in crude oil prices could impart an upward pressure on the value of net oil imports in the current fiscal year, it .

Despite wars in Europe and West Asia, oil shock fears yet to materialise

The peak that Indian crude oil basket has touched since Russia invaded Ukraine in Feb 2022 was in June of the same year pricing at $116.01 a barrel. It has not crossed $100 a barrel after July 2022

India receives oil cargo in Russian SCF tanker after brief halt: Reports

India is the largest consumer of Russian seaborne oil, sold at a discount after Western nations shunned purchases from Moscow for its invasion of Ukraine

Why wealthiest Gulf powers like UAE are snapping up prime property in Egypt

In the short term, the UAE's goal was to shore up the economy of a country seen as too big to fail

March crude oil imports decline 1.1% to 20.69 million tonnes: Govt

Product imports in March fell 6.1% from the previous month to 3.83 million tonnes, its lowest since July 2023, while exports gained 6.4%

Markets wrong in hoping worst of geopolitical crisis is over: Chris Wood

In its recent GREED & fear note Wood said, in the base case, it expects the Russia-Ukraine conflict to continue in the months leading US presidential election in November.

Top investing strategies from UBS if Iran-Israel geopolitical woes flare

Instead of exiting stocks in case Middle-East crisis flares up, analysts at UBS suggest investors look for alternative strategies to improve the resilience of portfolios and be positioned for rebounds

Indian refiners may need a rethink amid shrinking Russian crude discounts

Even after reduction, discounts on Russian crude oil may be contributing $1.5 to $2.5 a barrel to refiners' gross refining margins

Looming oil risk

Volatility in crude oil markets threatens macro stability

Oil prices jump slightly as Iran plays down reported Israeli attack

Iran is the third largest oil producer in the Organization of the Petroleum Exporting Countries (Opec)

Russia squeezes Mideast, OPEC shares in India's oil mkt to historic lows

Russia is an ally of the Organization of Petroleum Exporting Countries (OPEC) but it has eaten into the share of India's crude diet from key OPEC producers in the Middle East

As oil rises, rupee falls 6 paise to 83.58 against US dollar in early trade

The rupee depreciated 6 paise to 83.58 against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and elevated crude oil prices. Forex traders said the strength of the American currency in the overseas market also dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.58 against the dollar, registering a fall of 6 paise over its previous close. The local unit pared the initial losses and also touched a high of 83.46 against the American currency in early trade on Friday. On Thursday, the rupee rebounded from its all-time low level and closed 9 paise higher at 83.52 against the US dollar Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 106.17, higher by 0.02 per cent. Brent crude futures, the global oil benchmark, rose 2.46 per cent to USD 89.25 per barrel. "Brent Oil prices moved up to USD 90.48 per barrel after Iran threatened to review its stan

Crude oil import bill shrank 15.9% in FY24, thanks to Russia shipments

Import volumes remained stable at 232 mmt in FY24 as dependency increase

Centre in a huddle to understand impact of the Iran-Israel tensions

Inter-ministerial meets, stakeholder talks take off

Indian markets are getting too confident, excited & aggressive: Jim Rogers

War has never been good for the stock markets. The exception is the oil and gold markets where the prices go up, said Jim Rogers, chairman of Rogers Holdings in this exclusive interview.

'Govt bond yields expected to stabilise after witnessing last week's surge'

The market will be closely monitoring the movement of crude oil prices given the geopolitical conflict heating up in the Middle East, said dealers