Page 3 - Crude Oil

West Asia crisis: Russia offers to boost crude, LNG supplies to India

With the West Asia crisis continuing to drive volatility in the global energy market, Russia has offered to increase supply of crude oil and natural gas to India even as the two sides agreed to further enhance the overall bilateral ties. The energy cooperation figured prominently in meetings Russia's First Deputy Prime Minister Denis Manturov held with National Security Advisor Ajit Doval and External Affairs Minister S Jaishankar on Thursday, people familiar with the matter said. Manturov also held talks with Finance Minister Nirmala Sitharaman and called on Prime Minister Narendra Modi last evening. A Russian readout of the First Deputy Prime Minister's engagements in New Delhi said special attention was accorded to bilateral cooperation in the oil and gas sector. "Denis Manturov confirmed that Russian companies have the capacity to steadily increase supplies of oil and liquefied natural gas to the Indian market," it said. The comments came as the the West Asia crisis continued

Ship carrying Iranian oil shifts course from India to China mid-voyage

A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India - where it would have marked the first such shipment in nearly seven years - to China. The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler. There is no confirmation that the destination that the ship's Automatic Identification System (AIS) transponder - a tracking system mandated on most commercial vessels - is indicating is the final and it may not change at any time during the transit. "An Iranian crude vessel 'Ping Shun' that had been en route to Vadinar, India, over the past three days has dropped India as its declared destination near arrival and is now signalling China," said Sumit Ritolia, Lead Research Analyst, Refining and Modelling at commodity market analytic .

Datanomics: India's energy efficiency gains amid import woes deepen

Hormuz tensions strain India's fuel supply despite efficiency gains

Govt bond yields surge 9 basis points on rise in crude oil prices

Government bond yields climbed as crude oil and US Treasury yields rose, while improved liquidity conditions pushed overnight rates below the policy repo rate

Markets defy global cues to end in green despite crude oil price surge

But log their sixth straight weekly loss - longest losing streak since October 2025

Iraq's oil hub slows to crawl as Strait of Hormuz closure strangles exports

Iraqi oil fields once alive with the buzz of workers are nearly deserted. Ports that pulsed with the churn of cargo have fallen still, the din of commerce replaced by the soft rhythm of waves. A month after the war in Iran started, workers at ports and oil fields in the province of Basra, where almost all of Iraq's crude is produced and exported, have grown accustomed to rockets streaking across the sky, aimed at US air bases and other strategic facilities. The war, which began with US-Israeli strikes, is dealing a heavy blow to Iraq's economy. Iraq relies on oil revenues for roughly 90% of its budget, and most of its oil is exported through the Strait of Hormuz, the narrow mouth of the Persian Gulf where Iran has effectively stopped cargo traffic during the conflict. The war also has led to a sharp reduction in the volume of imported goods reaching southern Iraq's ports, while attacks have halted traffic at the border it shares with Iran. Unlike other countries in the Middle East

Brent above $100 on supply shocks; de-escalation may cool prices: Analyst

The risk-reward profile has shifted decisively to the downside as de-escalation signals intensify, raising the prospect of a rapid $20-30/bbl correction as the geopolitical risk premium unwinds

Benchmark bond yield seen testing 7.25% by April end amid supply pressures

Government bond yields are expected to remain elevated, with the benchmark 10-year yield likely to test 7.25 per cent amid oil price pressures and heavy supply

Sensex, Nifty surge as Donald Trump hints at timeline to end Iran war

Benchmarks surrender part of gains, end 1.6% higher; crude oil slips below $100 per barrel

Securing Strait of Hormuz is 'not for us': Trump lashes out at allies

US President Donald Trump lashed out Tuesday at allies who have been unwilling to do more to support the US war effort against Iran, telling them to "go get your own oil" and declaring that securing the Strait of Hormuz is "not for us." The president estimated that the American military will be done attacking in two to three weeks and said the US "will not have anything to do with" what happens in the strait that has been closed by the Islamic Republic. Instead, he told reporters that the responsibility for keeping the vital waterway open will rest with countries that rely on it. There's "no reason for us to do this," Trump said after signing an executive order that seeks to restrict mail-in voting. "That's not for us. That'll be for France. That'll be for whoever's using the strait." In other developments, the closure of the strait sent average US gas prices past USD 4 a gallon, and US strikes hit the central city of Isfahan, sending a massive fireball into the sky. Tehran attacked

Global risk aversion halts FPI momentum in FAR securities in FY26

In the financial year 2024-25, FPI inflows were supported by phased entry into JPMorgan's Government Bond - Emerging Market Index (GBO-EM)

Brent crude set for record gain; Asian shares falter as Iran war rages

A month into the war, investors continue to be whipsawed by ‌a barrage of headlines as tensions and attacks between the US, Israel and Iran escalate

CEOs upbeat on FY27 capex amid West Asia war cloud: Business Standard poll

Prolonged West Asia conflict, supply chain woes major concerns

How Iran is controlling the Strait of Hormuz

A month into the US-Israel–Iran conflict, the Strait of Hormuz, the world’s most critical oil artery, is no longer fully open. Traffic has collapsed, Iran is dictating passage

Australia to halve tax on fuel, underwrite spot cargoes driven by Iran war

Halving the tax would reduce the cost of fuel by 26.3 Australian cents per litre, PM Albanese said

Iran allows 20 oil ships to pass Hormuz as 'sign of respect': Trump

US President Donald Trump said that Iran had agreed to allow 20 ships carrying oil through the Strait of Hormuz starting Monday morning and continuing over the next few days "out of a sign of respect." "I would only say that we're doing extremely well in that negotiation but you never know with Iran because we negotiate with them and then we always have to blow them up," Trump told reporters Sunday night board Air Force One as he flew to Washington. Trump was asked if Iran had responded to the 15-point ceasefire plan the US has proposed and he said, they did and added, "They gave us most of the points. Why wouldn't they?" But Trump didn't offer details when asked about Iran, by his telling, appearing to make major concessions. "They're agreeing with us on the plan," Trump said. He also said Iran's new Supreme Leader Ayatollah Mojtaba Khamenei "may be alive but he's obviously, very seriously in trouble. He's seriously wounded.

Why the West Asia war may force countries to rely less on natural gas

The United States, as the world's biggest gas exporter, will almost certainly benefit from this upheaval, at least in the short term

Markets slide as West Asia tensions persist; oil tops $100 per barrel

Benchmark indices fell sharply as rising crude prices and escalating West Asia tensions unsettled investors, dragging markets to their longest weekly losing streak in months

Oil up 2.5% but set for first weekly decline since start of Iran war

Brent crude futures rose by $2.73, or 2.53%, to $110.74 a barrel by 1257 GMT. U.S. West Texas Intermediate futures were up $2.39, or 2.53%, at $96.87

Red Sea tensions could push Brent to new cycle high in April, says analyst

A broader escalation-including the potential closure of the Red Sea chokepoint by Yemen's Houthis-would likely push both Brent and WTI to new cycle highs