Page 2 - Oil Trade

Oil prices jump over 11% as Israel strikes Iran, rattling investors

US West Texas Intermediate crude was up $5.38, or 7.91 per cent, at $73.42 a barrel after hitting a high of $74.35, the loftiest since February 3

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

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

Asian countries look to buy more US oil, gas to offset trade imbalance

Many Asian countries run large trade surpluses with the United States and are also major energy importers

Trading guide, April 11: Trump 90-day tariff halt, global sell-off, TCS Q4

In the previous session, Indian markets ended in the red after the RBI MPC cut the repo rate by 25 basis points to 6 per cent, and shifted its policy stance from 'accommodative' to 'neutral'.

Major oil-linked companies stock slump after brent crude oil slips 3%

When oil prices drop, upstream companies face reduced revenue, which can lead to cost-cutting measures, reduced profits, and in some cases, financial losses

India bought 112 billion euro worth of Russian oil since Ukraine war

India, the world's third largest oil consuming and importing nation, spent 102.5 billion euro (about Rs 1.5 lakh crore) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for fossil fuels since February 24, 2022. "According to our estimates, since the beginning of the war, Russia earned EUR 835 billion in revenue from fossil fuel exports," it said. China was the biggest buyer of Russian fossil fuel at EUR 235 billion (made up of EUR 170 billion for oil, EUR 34.3 billion for coal and EUR 30.5 billion for gas). India, according to CREA, bought fossil fuel worth EUR 205.84 billion from Russia from the beginning of the war until March 2, 2025. This comprised EUR 112.5 billion (USD 121.59 billion) for purchase of crude oil, which is refined into fuels like petrol and diesel at refineries, and EUR 13.25 billion for coal. India, which is

US sanctions four Indian firms: What are the charges, and what happens now?

US sanctions four Indian firms for allegedly transporting Iranian oil, citing a covert network fueling Tehran's destabilising activities

De-dollarisation of oil purchases has never been objective: Hardeep Puri

Union Petroleum and Natural Gas Minister Hardeep S Puri said on Friday that de-dollarisation of oil purchases was never the objective, emphasising that "most transactions are in dollars and always have been". Instead, he clarified that the primary objective is to procure sufficient oil "at lower prices" to help control inflation. "De-dollarisation is not an objective at all. Most of these (oil) transactions are in dollars and always have been. We had one transaction in rupees, but I think it was a very small one. Transactions in rupees are a good thing, but it takes two to tango," Puri told PTI during a press conference. Exuding confidence that India has established contacts with the new US administration led by President Donald Trump, he said the Indo-American relationship on the energy front will deepen. According to the Union Minister, India is already purchasing energy worth up to USD 20 billion from the US, emphasising that Prime Minister Narendra Modi recently had a very ...

US sanction clarifications a tight squeeze for India's Feb oil supplies

Cargoes must be loaded before Jan 10 to evade sanction laws: Treasury Dept

Rising costs squeeze intermediaries out of Russian oil trade with India

India has become the biggest buyer of Russia's seaborne crude after Moscow's invasion of Ukraine in 2022

Finance ministry weighs removing windfall tax amid falling crude prices

The federal finance ministry will evaluate scrapping windfall tax on domestic crude oil output, Tarun Kapoor, adviser to the Indian prime minister, said last month

Russia now largest crude oil supplier to India, accounts for over 35%: Puri

Speaking at the FIPI Oil and Gas Awards Ceremony, the minister highlighted the dramatic shift in India's oil sourcing over the past two years

Nigeria, Guyana visits: Stronger oil trade tops PM Narendra Modi's agenda

Nigeria among India's top crude suppliers; OVL eyes offshore Guyanese blocks

BP profit slumps to $2.3 bn on weak refining margins, oil trading results

The decline was smaller than expected amid a slowdown in global economic activity and oil demand, particularly in China

Of ships and tankers: India, refiners not breaking international sanctions

A US official involved in compliance said 'General Licence 93' allowed India to receive vessels owned by a sanctioned entity, Russian state behemoth Sovcomflot, which ships the bulk of India's oil

Crude Oil: Here's your trading strategy for October 17; target price & more

Crude oil prices have been steadier on Thursday around $70.50/b in Asian hours, ahead of the weekly EIA inventory release from the US.

Russia's Dy PM Novak sees oil price stability despite Mideast turmoil

Novak, who also oversees the broader Russian economy, said the sanctions-hit economy will sustain any pressure

India to not buy from Russia's sanctioned LNG 2 project, says oil secy

The Arctic LNG 2 project by Russia's Novatek is subject to Western sanctions over Russia's war with Ukraine

Suez crisis: Houthi attacks disrupt India's diesel trade and oil business

Houthi missile strikes on tankers have threatened the competitiveness of Indian fuel exports, prompting out-of-the box solutions like hiring VLCCs to transport fuels

How to trade oil futures amid weak demand, Hurricane Francine? Outlook here

Crude oil strategy, Sept 12: WTI crude oil rice may fall to $65 in medium-term