Page 6 - Crude Oil

Govt expands Russian marine insurers list as Iran war strains supply chains

India is relying on Russian oil to meet most of its demand using a temporary waiver as the US-Israeli war on Iran keeps the Strait of Hormuz effectively closed

How 50 days of Iran war led to the loss of $50 billion worth of oil

More than 500 million barrels of crude and condensate have already been knocked out of the global market

Global crises reveal the limits of India's oil diversification strategy

The Iran-US-Israel conflict effectively shuttered the Strait of Hormuz, the artery of India's oil trade

Brent stays elevated on physical supply stress; easing seen by May: Analyst

The impact of the war on energy infrastructure is considerably more severe than futures prices currently imply

Indices rally on hopes of US-Iran deal; Sensex, Nifty hit one-month highs

Equity markets surged as easing crude oil prices and optimism over renewed US-Iran talks boosted sentiment, lifting benchmark indices to their highest levels in over a month

India receives first Iranian crude oil shipment after seven years

India was once among the largest importers of Iranian crude, attracted by favourable pricing, extended credit terms, and logistical advantages

$9bn oil revenue: How Russia is profiting from the Iran war | Crude oil | Oil prices

A surge in oil prices triggered by the Iran conflict is delivering billions to Russia. But beneath the windfall, economic risks still remain.

Crude oil outlook for FY27: What is RBI signalling? | RBI MPC Outcome | Oil prices | West Asia war

The Reserve Bank of India (RBI) has raised its crude oil price assumption to $85 per barrel for FY27. This is higher than the earlier assumption of USD 70 per barrel in H2FY26.

Ships with Iran oil anchor off India as Donald Trump announces blockade

The US had allowed the temporary sale of Iranian oil and petrochemical products already loaded on tankers in late March, as it sought to put a lid on rising oil prices due to the West Asia war

US-Iran war: How West Asia war is reaching India’s farms | Trump | Strait of Hormuz | Crude oil

The war in West Asia is impacting decisions in India’s heartland. From fertiliser shortages to rising input costs and panic buying, farmers in Punjab and Haryana are feeling the pressure.

Iran war prompted India to change crude formula to fix 3-year inaccuracy

Old formula did not represent the price paid by Indian refiners

Oil markets scramble for supplies as West Asia shortfall drives prices

Traders said the panicky moves across the world's key physical oil markets demonstrated the scale of the shortfall that's due to be felt as loss of supplies from the West Asia leaves a growing gap

'Waiting for you': Trump says tankers heading to US for 'sweetest' oil

In a statement shared on Truth Social, Trump claimed that a significant fleet of vessels is currently en route to American shores

Reliance seeks govt nod to buy Iranian crude ahead of US waiver deadline

Indian refiners stepped up purchases of Russian oil after the Trump administration granted waivers that are set to expire this month

After 7-yr delay, Odisha hands over land for Chandikhol oil reserve project

After more than seven years of delay, Odisha hands over land for Chandikhol oil reserve project, paving the way for construction of a 4 million tonne strategic crude storage facility

Jio-bp not to raise fuel rates despite spike in international oil prices

Jio-BP, the fuel joint venture of Reliance Industries Ltd and BP Plc, does not plan to raise fuel prices immediately despite a spike in international oil prices, its chief executive Akshay Wadhwa said on Friday. The country's second-largest private fuel retailer has kept retail petrol and diesel rates steady, just like public sector firms, which have not passed on the surge in raw material (crude oil) cost to consumers for fear of spiking inflation. "We are in this with the country," Wadhwa said on the sidelines of an industry event here. The war in West Asia has driven international oil prices above USD 100 per barrel, but domestic consumers have been insulated by the oil companies and the government, which cut excise duty on petrol and diesel to obviate the need for raising prices to some extent. Nayara Energy, in which Russian oil giant Rosneft hold the largest shareholding, has increased petrol price by Rs 5 a litre and diesel by Rs 3. Nayara is the country's largest private fu

Day after relief rally: Mkts slip, crude spikes as US-Iran truce hopes fade

Benchmark indices fall sharply as rising oil prices and renewed geopolitical tensions weigh on sentiment, even as broader markets show resilience

Rupee snaps 5-day rally; bond yields rise on crude, US yield surge

Currency weakens and government bond yields rise as crude oil prices and US Treasury yields climb amid geopolitical tensions in West Asia

Oil, gas flows through Strait of Hormuz may take months to recover

Even as the Strait of Hormuz reopens, damaged oil and gas infrastructure across the Gulf could delay supply recovery and keep global energy prices elevated

Indian Oil buys first shipment of Iranian crude since 2019 sanctions

Curacao-flagged crude tanker Jaya, laden with Iranian oil, most recently indicated it is heading for India, according to ship-tracking data