Page 2 - Oil Prcies

IOC, BPCL, HPCL could see margin pressure amid oil price spike: S&P

S&P Global Ratings on Wednesday said profit margins of oil marketing companies like IOC, BPCL and HPCL, could suffer as they are likely to keep retail prices of petrol and diesel unchanged to curb inflationary pressures. Oil prices have risen since the start of the US-Iran war with crude rising to over USD 100 per barrel earlier this week as the Strait of Hormuz, which handles about a fifth of the global crude oil and liquified natural gas (LNG) flows, remained effectively closed. Crude prices have fallen to USD 88 a barrel on Wednesday. S&P Global Ratings have recently revised its 2026 average price assumption for Brent crude oil prices by USD 5 to USD 65. The US-based rating agency said India will remain dependent on maritime routes to fulfil its crude needs, but there is some scope for diversification as the country has a history of buying oil from outside Asia, such as from Russia and South America. Purchases from Russia currently stand at 1.1 million bpd, while that from .

Oil price rise not to have substantial impact on inflation: Sitharaman

The impact of global crude price rise on inflation is not estimated to be substantial at this point as India's inflation is near the lower bound, Finance Minister Nirmala Sitharaman said on Monday. In reply to a written question in the Lok Sabha, Sitharaman said the price of both global crude oil and the Indian basket has been on a declining trajectory for the past one year, till the geo-political clashes commenced in West Asia on February 28, 2026. "Between the end of February and untill March 2, 2026, the Crude Oil FOB Price (Indian Basket) rose from USD 69.01/barrel to USD 80.16/barrel. Given that India's inflation is near the lower bound, the impact on inflation is not estimated to be substantial at this point," Sitharaman said. She was replying to a question on whether the government has reviewed the impact of rising global crude oil prices on inflation in the country. Global crude prices have been rising since February 28 when the US and Israel launched military strikes on Ir

Oil surges, but Trump downplays need to tap strategic petroleum reserve

Oil prices have soared in the week since the US and Israel launched their war against Iran, but President Donald Trump on Saturday downplayed the idea of turning to America's Strategic Petroleum Reserve to ease the pressure. Trump was asked by reporters on Air Force One about whether he would consider tapping the reserve. As the war continues to escalate across the Middle East, including in areas critical to the production and movement of oil and gas, that has strained the energy sector globally. In the US, consumers are already facing higher gas prices, a key cost of living. "We have got a lot of oil. Our country has a tremendous amount," Trump said. "There is a lot of oil out there. That will get healed very quickly." Trump's Republican Party is under pressure over the issue of affordability ahead of November mid-term elections. Tapping the reserve is among the few things a president can do on his own to try to make an impact on oil prices. Here is a look at what would be ...

Oil prices rise as West Asia crisis chokes off vital oil, gas supply

Brent crude was trading up $1.67, or 2.05%, at $83.07 per barrel by 0141 ‌GMT. US West Texas Intermediate crude rose $1.94, or 2.60%, to $76.60

Stock Market Crash: Sensex slumps 1048 pts to 6-mth low; Nifty ends at 24,866 on US-Iran war worries

Sensex Today | Stock Market LIVE Updates, Monday: The GIFT Nifty indicated a sharply lower open for the benchmark Nifty50 index amid rising geopolitical tension between the US and Iran

Oil slides over 2% as easing supply fears follow planned US-Iran talks

Brent crude futures were ​down $1.73, or 2.5 per cent , at $67.73 per barrel at 1402 GMT. US West Texas Intermediate crude was down $1.67, or 2.5 per cent , at $63.47

Analyst remains bearish on crude oil; WTI to slide to $52, Brent $56-57

Crude oil prices are holding firm this week as tensions between Iran and the US temporarily ease after Donald Trump indicated he does not intend to launch military action.

Oil steadies as investors assess US tariff threats over Greenland

Fears of renewed trade war escalated after Trump said he would impose additional 10% levies from February 1 on goods imported from European nations if no deal on Greenland was reached

Iranian crisis aids crude prices; Brent faces resistance at $68, WTI at $62

The current upward trajectory is primarily driven by a toxic mix of heightened geopolitical risks in the Middle East, infrastructure disruptions in the Caspian region, and significant capital inflows

Venezuela crisis unlikely to hit India oil prices in near term: Crisil

On January 3, the US launched a large-scale operation in Venezuela's capital Caracas and captured President Nicolás Maduro and his wife Cilia Flores

Oil steadies after Trump says Venezuela to export crude to the US

The deal between Washington and Caracas could initially require cargoes that were bound for China to be rerouted, sources told Reuters

Crude oil slumps, Asian shares edge lower as global tensions climb

Japanese shares weighed down regional equity benchmarks, while commodity shares were broadly higher after an overnight surge in industrial metals prices

Saudi cuts crude oil prices again amid growing competing supplies

This comes amid the International Energy Agency forecasting a supply this year of 4 million barrels per day, equivalent to 70 per cent of India's oil demand

Oil prices head for biggest annual fall since 2020 on oversupply fears

U.S. crude and fuel inventories rose last week, market sources said, citing American Petroleum Institute figures on Tuesday

Asia likely to step up US WTI oil imports as West Asia prices rise

Middle East crude benchmarks Dubai and Murban gained this month on the back of robust demand for high-sulphur oil in Asia

Oil prices rise 2% as investors assess Iran-Israel ceasefire, Fed outlook

Prices had rallied to five-month highs after the US attacked Iran's nuclear facilities over the weekend

Oil surges to five-month high after US hits Iran's key nuclear sites

Market participants expect further price gains amid mounting fears that an Iranian retaliation may include a closure of the Strait of Hormuz

Zelenskyy warns rising oil prices may fund Russia's war against Ukraine

A sharp rise in global oil prices following Israeli strikes on Iran will benefit Russia and bolster its military capabilities in the war in Ukraine, Ukrainian President Volodymyr Zelenskyy said Friday in comments that were under embargo until Saturday afternoon. Speaking to journalists in Kyiv, Zelenskyy said the surge in oil prices threatens Ukraine's position on the battlefield, especially because Western allies have not enforced effective price caps on Russian oil exports. The strikes led to a sharp increase in the price of oil, which is negative for us, Zelenskyy said. The Russians are getting stronger due to greater income from oil exports. Global oil prices rose as much as 7 per cent after Israel and Iran exchanged attacks over the past 48 hours, raising concerns that further escalation in the region could disrupt oil exports from the Middle East. Zelenskyy to address concerns with the US Zelenskyy said he planned to raise the issue in an upcoming conversation with US Presid

Wall Street drifts higher as oil prices jump, US manufacturing slumps

US stock indexes drifted closer to their records on Monday, coming off their stellar May, which was Wall Street's best month since 2023. The S&P 500 rose 0.4% after erasing an early loss from the morning. The Dow Jones Industrial Average added 35 points, or 0.1%, and the Nasdaq composite climbed 0.7%. Indexes had been down close to 1% in the morning following some discouraging updates on US manufacturing. President Donald Trump has been warning that US businesses and households could feel some pain as he tries to use tariffs to bring more manufacturing jobs back to the country, and their on-and-off rollout has created lots of uncertainty. But stocks rallied back as the day progressed, and gains for a few influential stocks helped lift the S&P 500 even though more stocks within it fell than rose. Nvidia climbed 1.7%, and Meta Platforms rose 3.6%, for example. Some of Monday's strongest action was in the oil market, where the price of crude spurted more than 3%. The countries in

Oil prices inch up as US bans Chevron from exporting Venezuelan crude

The Trump administration has issued a new authorisation for US major Chevron that would allow it to keep assets in Venezuela but not to export oil or expand its activities