Page 17 - Crude Oil

Crude oil rises to 3-week high as investors eye Trump statement on Russia

Brent crude futures rose 58 cents, or 0.8 per cent, to $70.94 a barrel by 0900 GMT, while U.S. West Texas Intermediate crude futures climbed 59 cents, 0.9 per cent, to $69.04

Crude connection: Refiners eye Canadian shores amid supply disruptions

Heavy grade crude from Alberta can be a stable alternative to Russian Urals

Oil prices rise as Iran suspends cooperation with UN nuclear watchdog

Brent crude added 92 cents, or 1.4 per cent, to $68.03 a barrel at 1125 GMT, while US West Texas Intermediate crude rose 89 cents, or 1.4 per cent, to $66.34 a barrel.

India to build three new strategic oil reserves to boost energy security

The new strategic oil reserves in Bikaner, Mangalore and Bina will boost emergency stockpiles, enhance energy security and aid India's push for International Energy Agency membership

Russian crude flows set to rise despite low discounts, say officials

Russian crude may rise in India's oil mix amid Middle East tensions, but LNG from Qatar and UAE-under long-term contracts-remains hard to replace

Blocking of Strait of Hormuz may impact India's energy procurement: Experts

Any blocking or disruption of traffic through the Strait of Hormuz -- a narrow passage connecting the Persian Gulf to the Arabian Sea -- will have significant global and regional impact, including for India's energy security, strategic affairs experts said on Sunday. Following the US bombing of three major Iranian nuclear sites, Tehran has indicated that closing the Strait of Hormuz for shipping is one of the options on the table to pressure its adversaries. Nearly 30 percent of global oil and a third of the world's LNG (liquefied natural gas) passes through the strait daily and its closure would immediately reduce global supplies triggering a spike in prices, they said. The closure of the narrow passage would have significant global repercussions across energy markets and it will impact India's energy security as well, Dr Laxman Kumar Behera, Associate Professor at Special Centre for National Security Studies at the Jawaharlal Nehru University, told PTI. Behera said any disruption

Petroleum product export earnings fell 13.4% to $3.3 bn in May: PPAC

Lower global crude prices reduced May petroleum export earnings to $3.3 billion even as outbound and import volumes rose and crude processing remained steady

India to lead global oil demand growth by 2030 on economic expansion: IEA

IEA report shows India will add 1 million barrels per day to global oil demand by 2030, driven by GDP growth, rising car use, industrial activity and clean fuel adoption

Datanomics: India gets Russian cushion as Israel-Iran clash heats up oil

The conflict is expected to escalate in the coming days, putting further strain on global oil supplies in the restive West Asian region and making crude oil expensive

Israel-Iran clash: No immediate impact on crude oil supply, say officials

Officials say India's crude and LNG imports remain steady but warn that any hostilities affecting the Strait of Hormuz could threaten oil flows from Gulf partners

Air India crash, crude oil, stock markets, gold tops 1 lakh, Iran-Israel strikes

Investigating agencies have recovered one of the two black boxes from the London-bound Air India flight that crashed in Ahmedabad yesterday.

India's imports of Russian oil hit 10-month high in May, shows data

India's imports of Russian crude oil surged to a 10-month high of 1.96 million barrels per day in May, driven by continued availability at significant discounts compared to global benchmark prices, according to ship-tracking data from Kpler. India, the world's third largest oil importing and consuming nation, bought from abroad around 5.1 million barrels of crude oil, which is converted into fuels like petrol and diesel in refineries. Of this, Russia was the largest supplier, accounting for over 38 per cent of the supplies. Iraq maintained its position as the second-largest supplier, with 1.2 million bpd of sales to India. Saudi Arabia exported 6,15,000 bpd, while the United Arab Emirates (UAE) supplied 4,90,000 bpd. The United States routed out the top five, delivering 2,80,000 bpd, underscoring India's push to diversify import sources and balance geopolitical exposure. "Overall, India's crude import profile for May 2025 highlights its price-sensitive, diversified sourcing strateg

Crude oil price drop likely to result in earnings downgrade for ONGC

Crude oil production was flat quarter-on-quarter (Q-o-Q) and year-on-year (Y-o-Y), while gas production was flat Q-o-Q but declined 6 per cent Y-o-Y

Adani Group denies sanctions evasion, Iran LPG trade amid US probe: Report

The US authorities are probing whether Adani's firms brought Iranian liquefied petroleum gas (LPG) into India via the Mundra port, which his company operates

US sanctions on Russia likely to cripple India's crude oil imports

Russian grades constituted around 39% of India's oil imports in May

China's oil demand to peak in 3-5 years, India's to grow steadily: Moody's

But Chinese production growth set to outpace India's due to investments in offshore and shale gas while Indian firms struggle with ageing wells and slower capital flows

India's Russian oil imports hit 10-month high on strong ESPO crude demand

India's strong demand has led to a rebound in spot premiums for ESPO cargoes delivered to China, the biggest buyer of the crude exported from the Far East port of Kozmino

China's fossil fuel output dips from March highs but rises year-on-year

Gas output rose 8.1 per cent year-on-year to 21.5 billion cubic meters, while crude oil increased 1.5 per cent to 17.7 million tonnes, the statistics bureau said

Crude oil falls as traders consider potential jump in US crude stockpiles

Brent crude futures fell 64 cents, or around 1%, to $65.99 a barrel by 0934 GMT. U.S. West Texas Intermediate (WTI) crude slipped 64 cents, or 1%, to $63.03

Crude oil outlook: WTI may remain-range bound at $56-$60, say analyst

Oil prices have declined 17 per cent for the year-to-date with April marking 18 per cent fall, the biggest monthly drop in prices since November 2021