Crude Oil Supply
Essar, IRH Global sign $500 million crude sourcing and supply facility
The agreement is aimed at diversifying crude sourcing, strengthening feedstock security and improving working-capital efficiency for Essar's refining operations
 "Essar, IRH Global sign $500 million crude sourcing and supply facility")
Oil and gas supply woes may persist despite US-Iran peace deal: Experts
High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of Hormuz announced Sunday. It will likely take months before energy companies can resume operations to the point of meeting the world's demand, according to energy experts. The slow pace of the process of shipping and refining crude oil, and doubts about the security of traveling through the strait mean the effect won't be seen immediately, they said. Ships loaded with crude oil have been stranded in the Persian Gulf for more than three months, unable to safely travel through the waterway, through which about a fifth of the world's oil and gasoline supplies typically traveled before the war began. "It's going to take time for people to feel comfortable and for insurance to be in place ... particularly to get people on the ground to restart some of these assets," said Daniel Evans, global head of fuels and refining research at S&P Global ..
 "Oil and gas supply woes may persist despite US-Iran peace deal: Experts")
EMs in the oil shock: Policymakers are going into an examination hall
The 2026 oil shock is testing emerging economies, with fuel pricing, exchange-rate flexibility and inflation control set to determine growth outcomes
 "EMs in the oil shock: Policymakers are going into an examination hall")
Energy ties in focus as Venezuela's acting President begins India visit
Delcy Rodriguez will visit energy installations, meet industry leaders and discuss bilateral cooperation as India increases Venezuelan oil imports amid West Asia disruptions
 "Energy ties in focus as Venezuela's acting President begins India visit")
Two supertankers exit Strait of Hormuz with 6 million barrels of crude oil
The ships are among a handful of supertankers exiting the Gulf this month via a transit route that Iran has ordered ships to use
 "Two supertankers exit Strait of Hormuz with 6 million barrels of crude oil")
BPCL plans ₹25,000 crore capex for FY27, calls fuel price hike respite
State-run oil major says recent increase in retail fuel prices has eased pressure amid soaring crude prices and mounting under-recoveries
 "BPCL plans ₹25,000 crore capex for FY27, calls fuel price hike respite")
Best of BS Opinion: Can middle powers prevent transactional geopolitics?
From the rise of transactional geopolitics to oil shock risks and Pakistan's strategic missteps, BS Opinion examines the global uncertainties shaping politics and business
 "Best of BS Opinion: Can middle powers prevent transactional geopolitics?")
India's Russian oil supply likely to be hit if US waiver not extended
Under the latest US waiver, countries have been allowed to purchase Russian crude oil and petroleum products until May 16 that were loaded onto vessels on or before April 17
 "India's Russian oil supply likely to be hit if US waiver not extended")
Tehran considering service fee for Hormuz transit, says Iran minister
Iranian Deputy Foreign Minister Kazem Gharibabadi said Tehran is considering a framework for charging vessels using the Strait of Hormuz for maritime services
 "Tehran considering service fee for Hormuz transit, says Iran minister")
PM Modi's WFH nudge: Can fewer office trips help cut India's fuel bill?
Work-from-home can reduce commute-linked fuel use in major cities, but experts say the overall energy impact depends on office and household power use
 "PM Modi's WFH nudge: Can fewer office trips help cut India's fuel bill?")
Iran's unused oil storage shrinks to 22 days or less amid US blockade
The Islamic Republic has enough unused storage capacity to last another 12 to 22 days
 "Iran's unused oil storage shrinks to 22 days or less amid US blockade")
Crude outlook: Oil may head toward $112 on supply risks amid West Asia war
The crude oil market remains on a knife-edge. Brent's surge above $105 reflects genuine supply risks from Hormuz disruptions.
 "Crude outlook: Oil may head toward $112 on supply risks amid West Asia war")
Hormuz tensions rise as IRGC seizes two vessels amid stalled talks
Pakistan still trying to bring both sides together for negotiations
 "Hormuz tensions rise as IRGC seizes two vessels amid stalled talks")
India's crude oil import bill fell 5% in March amid West Asia conflict
Crude import bill declines despite higher prices as supply disruptions from West Asia reduce volumes, while petroleum exports and net oil imports also fall
 "India's crude oil import bill fell 5% in March amid West Asia conflict")
West Asia conflict: US renewal of Russian oil waiver a breather for India
US renews Russia oil waiver, offering relief to India amid Hormuz disruptions, as refiners rely on diversified crude sources to maintain supplies
Straits and narrows: The high cost of closing global chokepoints
Paying tolls to use the Strait of Hormuz is a dark omen for the future of global trade
 "Straits and narrows: The high cost of closing global chokepoints")
US extends waiver allowing India, others to buy Russian oil till May 16
The waiver comes despite earlier US reluctance, as war-linked supply disruptions and Strait of Hormuz curbs push oil prices higher and test Western efforts to restrict Russia's revenues
 "US extends waiver allowing India, others to buy Russian oil till May 16")
West Asia conflict: US waiver ends, India to keep Russia oil tap open
Indian refiners plan to continue sourcing Russian crude from non-sanctioned suppliers and vessels despite US decision not to renew temporary sanctions waivers
 "West Asia conflict: US waiver ends, India to keep Russia oil tap open")
BPCL arm to invest $2.8 billion in Brazil's oil and gas exploration project
BPCL says investment in Brazil's SEAP-I project will provide access to equity crude, helping strengthen India's energy security and diversify supply sources
 "BPCL arm to invest $2.8 billion in Brazil's oil and gas exploration project")
Brent to stay elevated amid supply shocks; easing likely by Q3: Analyst
Brent futures are currently trading near $95/bbl after a 4.6 per cent correction, yet remain up 31 per cent since the start of the conflict, 56 per cent year-to-date