Page 7 - Crude Oil

India's oil trade deficit rises despite softer crude prices: Crisil

Rating agency flags divergence between global and domestic oil demand trends as imports outpace exports, putting pressure on India's overall trade balance

Rupee hits record closing low at 94.85 as crude surge pressures currency

The rupee fell to a record closing low of 94.85 per dollar, pressured by rising crude prices, foreign outflows and a stronger US dollar

Petrol, diesel sold below cost, losses seen at ₹14/L & ₹18/L, respectively

Oil marketing companies are selling petrol and diesel at a loss of Rs 14 per litre and Rs 18 per litre, respectively, as elevated crude prices outpace capped retail fuel rates, squeezing marketing margins. Besides losses on petrol and diesel, the elevated energy prices post West Asia crisis are likely to leave companies with an under recovery of Rs 80,000 crore on cooking gas LPG in the current fiscal, while fertiliser subsidy is projected to rise to Rs 2.05 to 2.25 lakh crore. Rating agency Icra said supply disruptions in the Strait of Hormuz - handling around 20 per cent of global oil and LNG trade - have tightened availability of fuels, fertilisers and chemicals, pushing up prices and increasing cost pressures across downstream industries. Crude prices before the West Asia crisis broke out two months back were around USD 70-72 a barrel. "The stable pump prices for auto fuels amid elevated crude oil prices are impacting the profitability of the oil marketing companies (OMCs)," sa

UAE to walk out of Opec, Opec+; India may gain from supply shifts

The UAE, with capacity of around 4.8 million barrels per day, has long been one of the most influential and compliant members of Opec+, and is currently the fourth-largest producer in the alliance

Rupee weakens, bond yields harden tracking rise in crude oil prices

Market participants said that state-owned banks bought dollars, likely on behalf of the Reserve Bank of India (RBI) - a move which avoided further depreciation

Time to build crude oil reserves as West Asia supply shock hits stocks

Experts said the crisis in West Asia is likely to prompt producers like Saudi Arabia, the UAE and Qatar to participate in building oil reserves in major consuming nations like India

Why is India’s core sector at a five-year low? | Crude oil | Natural gas | Fertilisers | Cement

India’s core industries, the backbone of industrial growth, just had their weakest year in five years. A sharp March contraction, driven by energy shocks and input shortages,

Crude oil cushion shrinks as supply fault lines deepen amid West Asia war

West Asia conflict and strained global supplies tighten India's oil cushion, raising risks of a crude crunch despite refiners tapping inventories

Bond yields ease after choppy trade, rupee remains under pressure

Government bond yields ended marginally lower after volatile trading, while the rupee stayed under pressure due to rising oil prices, global cues, and foreign outflows

Benchmarks retreat amid sharp IT selloff as oil surge hits sentiment

Benchmark indices fell as IT stocks slumped and crude oil prices surged, with geopolitical tensions and profit-booking weighing on investor sentiment

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

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