Page 34 - Crude Oil Price

Cloudy future

Higher oil prices increase risks for India

Rising costs, competition leave paint sector in need of fresh coat

Festival season may add vibrant strokes to volumes, but margins remain a blank canvas

Crude oil prices rise 3%, breach $97 a barrel on US stockpile concern

Brent crude futures closed up $2.59, or 2.8 per cent, at $96.55. It breached $97 a barrel during the session

FinMin retains 6.5% FY24 growth estimate amid steady high-frequency indicators

The finance ministry on Friday exuded confidence that the country will achieve 6.5 per cent growth in FY24 on the back of improved corporate profitability, private capital formation and bank credit growth, notwithstanding the risks of rising crude oil prices and monsoon deficit. The ministry's August edition of Monthly Economic Review said the 7.8 per cent growth recorded in the first quarter (April-June) was on account of strong domestic demand, consumption and investment. The growth was also witnessed in various high-frequency indicators. Flagging certain risks like steadily climbing crude oil prices in the global market, impact of monsoon deficit in August on Kharif and Rabi crops, the review said, "that needs to be assessed." At the same time, it observed, the rains in September have erased a portion of the rainfall deficit at the end of August. Furthermore, the review said, a stock market correction, in the wake of an overdue global stock market correction, is an ever present .

India says rising oil prices a concern, but economic outlook 'bright'

India, the world's third-largest energy importer, purchases more than 80% of its crude oil from international markets

India to clock GDP growth of 6.5% in FY24: NITI Aayog member Arvind Virmani

The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes." On some US-based economists' claim that India is overstating economic growth, Virmani said he has noticed that certain former officials don't have any idea how GDP is constructed as they have come from academic background. Last week, the Finance Ministry also dismissed the criticism of inflated GDP, saying it has followed the consistent practice of using the income side estimates to compute economic growth, and stressed many internatio

Sensex bleeds 796 pts, Nifty holds 19,900 as HDFC Bank slides 4%, RIL 2%

Closing Bell on Wednesday, September 20: HDFC Bank shares were the biggest dragger on the benchmarks as they dropped nearly 4 per cent, while JSW Steel, and Reliance Industries fell over 2 per cent

Crude oil rally gathers momentum as Brent pops above $96 a barrel

Crude has soared by about a quarter since mid-June, with Riyadh and Moscow joining hands to curtail exports in a bid to drain inventories and drive a rebound in prices

Oil India share jumps 6%, rebounds to 1-year high after 3 weeks: Read why

With crude crossing $94 per barrel, upstream companies like OIL will benefit from higher net crude realisations; company also exploring ways to repatriate its dividends worth $150 million from Russia

TMS Ep517: Crude oil price, celeb brand names, markets, MAHARISHI

Will oil be the next big worry for India? Why are Indian celebs not banking on their own name? How will markets react to inflation data? What is India's G20 millets initiative, MAHARISHI? Answers here

Oil causes trouble, again

Elevated crude prices will create complications

Russian supply cuts, low discounts top India's woes from soaring oil prices

That leaves Indian state oil companies caught in the crosshairs of higher oil prices, supply cuts, impending elections and growing losses

HDFC Bank, ITC lift Sensex 100 pts on late buying; Nifty ends atop 19,600

CLOSING BELL ON SEPTEMBER 06, 2023: The Sensex gained 483 points from the day's low, with HDFC Bank, ITC and Bharti Airtel contributing 217 points to the BSE benchmark on Wednesday.

Oil industry elite hits Singapore to debate over crude's next twist

Producers, hedge funds, analysts and traders will all converge on the Southeast Asian city-state for this year's Asia Pacific Petroleum Conference, organized by S&P Global Commodity Insights

Crude oil prices rises to highest in over 7 months on supply worries

Russia, the world's second-largest oil exporter, has already agreed with OPEC+ partners to cut oil exports next month, Deputy Prime Minister Alexander Novak said

Sensex soars 556 pts, Nifty tops 19,400; Metal index rallies 3%, Auto 2%

Closing Bell on September 1, 2023: In the broader markets, the BSE MidCap and SmallCap indices added 0.75 per cent each

Petrol, diesel prices continue to surge amid social unrest in Pakistan

The Finance Division said the hike was due to the "increasing trend of petroleum prices in the international market and exchange rate variations"

Sensex sinks 256 pts, Nifty ends below 19,300; SmallCap index holds fort

Closing Bell on August 31, 2023: Bajaj Finance, IndusInd Bank, Axis Bank, HUL, SBI, Power Grid, Nestle India, TCS, Tata Motors, JSW Steel, Bajaj Finance, ITC, and RIL slipped up to 1.2 per cent

India's Russian crude imports decline sharply in Aug to lowest in 7 months

Shipments of Russian oil to India dropped to 1.6 million barrels per day (bpd) in August from 2.1 million bpd in July, the steepest month-on-month drop

Global oil prices up due to tighter supply, China economy in focus

U.S. West Texas Intermediate crude futures gained 10 cents, or 0.13 per cent, to $81.74