Page 48 - Crude Oil Price

Two-day petrol pump strike scheduled to begin today in Assam, deferred

The petrol pump strike in parts of Assam, scheduled to begin on Saturday morning, was deferred, a leader of their association said. The North East India Petroleum Dealers' Association (Greater Guwahati Unit) had called for 'no purchase no sale' from 5 am on Saturday till 5 am on Monday over a host of demands. Among their demands was the revision of the dealers' commission, which has been pending since 2017. "Following the intervention of the government, we have decided to defer the strike. In the meantime, we will hold further talks with the oil companies on resolving our issues," the leader said. The announcement came hours after the state government brought petroleum dealers and retailers under the Essential Services Maintenance (Assam) Act or ESMA, which prohibits strikes.

Metals soften in FY24, crude oil hardens in the international market

Most base metals, except tin, have ended lower in the last two years

Rupee turns flat at 83.33 against US dollar amid high crude oil prices

The rupee turned flat at 83.33 against the US dollar in early trade on Thursday amid a strong American currency and higher crude oil prices. Forex traders said the positive equity markets and inflow of foreign funds resisted the fall in the Indian currency. At the interbank foreign exchange, the rupee opened at 83.32 and lost further to trade at the previous closing level of 83.33 against the greenback in initial deals. On Wednesday, the rupee declined 4 paise to close at 83.33 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent higher at 104.07. Brent crude futures, the global oil benchmark, rose 0.53 per cent to USD 86.56 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 170.43 points, or 0.23 per cent, higher at 73,166.74 points. The broader NSE Nifty rose 53.45 points, or 0.24 per cent, to 22,177.10 points. Foreign institutional investors (FIIs) we

Oil prices continue to rise on expectations of limited supply from Russia

Brent crude rose 23 cents to $86.98 a barrel by 0118 GMT. US crude futures climbed 28 cents to $82.23

Crude oil rises as heightened geopolitical risks exacerbate supply concerns

Both benchmarks fell less than 1% last week versus the previous week. A stronger US dollar, which rose about 1% over the last week, has kept a lid on prices

Crude oil processing volumes remain steady in Feb at 20.9 MMT: PPAC

Crude imports fell 6.5 percent in February to 18.01 Million Metric Tonnes. says data released by Petroleum Planning and Analysis Cell

Sensex sinks 736pts, Nifty tests 21,800 in broad-selling; IT index sheds 3%

Stock market highlights on Tuesday, March 19: TCS was the biggest laggard on the benchmark indices, down 4 per cent after Tata Sons likely sold about 0.6 per cent stake in the company

Rupee falls 5 paise to 82.95 against US dollar on back of firm crude prices

The rupee declined 5 paise at 82.95 against the US dollar on Tuesday due to firm crude oil prices and foreign fund outflows. At the interbank foreign exchange market, the rupee opened at 82.94 to a dollar, down 4 paise over the previous close of 82.90. The local currency moved in a tight range of 82.93 to 82.95 to a dollar in early deals. The rupee traded at 82.95, down 5 paise, against the US dollar at 9.15 am. A stronger US dollar and firm bond yields ahead of the US Fed interest rate decision also weighed on the local unit, forex dealers said. The US dollar index, which measures the greenback's strength against a basket of six currencies gained 0.20 per cent to 103.64. Brent crude, the global crude oil benchmark, also stayed above USD 86 per barrel to trade at around four-month high levels. Losses in local stocks also weighed on the rupee. Benchmark BSE Sensex declined by 398.79 points or 0.55 per cent to 72,349.63 while broader Nifty dropped 120.10 points or 0.54 per cent to

Govt hikes windfall tax on petroleum crude to Rs 4,900 per tonne

The new rates will be affective from Saturday, according to a government notification released on Friday

Despite shrinking discounts, Russian crude flow to India may continue

Russia's share of Indian crude imports rose to 32 percent in February after recent dips

Nation first policy helped manage oil prices despite global conflicts: Puri

The Union Minister for Petroleum and Natural Gas said 85 per cent of India's crude requirements are met by imports, with the price of crude in the international market being the benchmark

Gold at new high, set for best week in 5 months; crude oil steadies

Oil prices steadied on Friday as investors digested fresh US employment data, in the quest for clues as to whether interest rate cuts may occur in the US and Europe in the first half of this year

Benchmarks end flat, Smallcaps decline; energy, metal, IT stocks slip

Stock market live updates on March 4, 2024: JSW Steel, Tata Steel led losses among largecaps after CLSA downgraded the two stocks to 'sell', reducing their target prices

PM Narendra Modi flags off first crude oil tanker from ONGC's KG project

At its peak, the deepwater project is set to produce 7 per cent of India's oil and gas

Govt hikes windfall tax on petroleum crude to Rs 4,600 a tonne from March 1

On Feb. 16, the government raised the windfall tax on petroleum crude to 3,300 rupees a metric ton from 3,200 rupees and hiked the tax on diesel to 1.5 rupees a litre from zero

Crude oil falls 1% as Fed caution, stocks build offset Opec+ expectations

Brent crude futures fell 90 cents, or 1.08%, to $82.75 a barrel by 0902 GMT. U.S. West Texas Intermediate futures (WTI) were down 92 cents, or 1.17%, at $77.95

Sensex drops 533 pts in broad selling; IT, metals worst hit; VIX jumps 4%

Stock market highlights on Monday, February 26, 2024: The Nifty50 shut shop at 22,122, down 91 points or 0.41 per cent. The mid, small-cap indices fell up tp 0.3 per cent.

Crude imports hit 21-month high in Jan on strong industrial activity

India's fuel consumption rose 8.2% year-on-year last month, government data showed earlier this month

Rupee rises 7 paise to close at 83 against dollar on easing crude prices

The rupee appreciated 7 paise to close at 83 (provisional) against the US dollar on Monday, on softness in the American currency and easing crude oil prices. However, weak domestic markets and foreign fund outflows capped sharp gains, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.01 against the greenback. The unit hit an intra-day high of 82.98 and a low of 83.02. The local unit finally settled at 83 (provisional) against the dollar, higher by 7 paise from its previous close of 83.07. "We expect the rupee to trade with a slight positive bias, positive global equities and a slight correction in the greenback. "However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on the rupee at higher levels," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Traders may take cues from India's CPI and IIP data. "Headline inflation is expect

Oil prices up 2% on Gaza ceasefire rejection, US fuel stocks data

The Brent benchmark breached $80 a barrel for the first time since Feb. 1 as it extended into a fourth straight session of gains