Page 6 - Oil Trade

Buying oil from Russia is to India's advantage, says S Jaishankar

Says India's obligation is to ensure consumers get best access on 'most advantageous' terms

Solvent Extractors Assn seeks release of 100 kg GM mustard for this rabi

Edible oil body plans sow the seeds in 200 out of the 1,000-odd model mustard farms that it plans to set up this season

Oil prices increase on demand hopes after US crude stocks drawdown

The potential disruption from the European Union embargo on Russian oil that is set to start on December 5 may also be pushing prices higher.

India continues with Russian oil buys, cuts shipments from Saudi

Saudi Arabia's decline in India's oil market has coincided with Russia's rise, and ironically occurred amid growing diplomatic ties between Riyadh and New Delhi

Oil price wavers as rate hike talk offsets fading China demand hopes

Oil prices were little changed on Friday as optimism about a possible rise in demand in China faded and the market again weighed the impact of sharp interest rate rises on energy consumption

India to soon sign long-term deal to export oil from Namibia: Report

Recently, IOC signed a deal to procure oil from Colombia's Ecopetrol SA and Brazil's Petroleo Brasileiro SA (Petrobras)

Oil down on strong dollar, worries about recession and hawkish Fed talk

Oil futures fell for a third day on Wednesday, as a stronger dollar and worries about weaker demand and rising interest rates

Russia to flood Asia with fuels as Europe ramps up sanctions: Report

Moscow plans to raise taxes on energy sector to the tune of $50 bn in 2023-25

Oil prices rise after Basra terminal spill, but set for weekly decline

Brent crude futures were up 70 cents, or 0.8%, at $91.54 a barrel by 1:43 p.m. EDT (1743 GMT)

India, Russia to discuss energy security as oil, coal trade soars

The Kremlin has said Putin and Modi will meet on Friday and discuss trade, including food, as well as sales of Russian fertilizer

Oil exports to India will continue, will strike new trade records: Russia

There is a steep jump in Russian oil export to India, as it has increased ten times this year and Russian crude oil is now fulfilling almost ten per cent of India's imported oil consumption

Oil prices surge on weakening dollar, potential supply disruptions

Brent crude futures rose 38 cents, or 0.4%, to $94.48 a barrel by 0013 GMT, while U.S. West Texas Intermediate crude rose 46 cents, or 0.5%, to $88.94

Oil slips after bearish US economic data fuels aggressive rate hike fears

U.S. commercial oil stocks are expected to have fallen for five weeks in a row, dropping by around 200,000 barrels in the week to Sept. 9, a preliminary Reuters poll showed on Monday

Importing Russian oil part of India's inflation management: FM Sitharaman

Nirmala Sitharaman made the statement at an event in New Delhi

OPEC+ faces output dilemma amid concerns of a global economic slowdown

Recent gyrations, including a drop of more than 20% in Brent crude since early June, have prompted Riyadh to say an output cut could be necessary

Oil firms on OPEC+ output cut bets to stem sinking prices amid weak growth

Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, but the benchmarks were still on track to post their worst weekly drop

Iraq leads with discounts as W Asia retains top slot in Indian oil market

Iraq, India's biggest crude oil supplier, maintained its lead over Russia in August, supplying 12-20 per cent more to India in the first 30 days of the month

Amid rising prices, oil companies invest heavily in offshore drilling

Surging oil prices are encouraging the investments, along with Europe's mounting energy demand as the Ukraine-Russia war drags on

Rupee appreciates 7 paise to 79.84 against US dollar in early trade

The rupee appreciated 7 paise to 79.84 against the US dollar in early trade on Tuesday in line with a positive trend in domestic equities. However, higher oil prices and month-end dollar demand could restrict the gains for the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 79.92 against the American dollar and touched 79.84 in initial deals, registering a gain of 7 paise over the last close. On Monday, the rupee closed at 79.91 against the US dollar. The rupee opened on a flat note after Monday's volatile session in which RBI had intervened to support the currency amid a fall in equities and a rise in the dollar index, according to experts. Asian currencies are generally down as the market digests US Federal Reserve chief Jerome Powells' hawkish tone on interest rates on Friday. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.06 per cent to 108.76. Global oil benchmark Brent crude futures

Fuel price: What is windfall gain tax and how it affects fuel prices?

What is windfall gain tax? How does it impact petrol-diesel prices? Which countries impose it? Read this detailed article to know everything about fuel and its relation to windfall gain tax