Oil rises 16% YTD on Middle-East crisis: How will the fresh spike impact India and world markets—Explained
8 months, 3 weeks ago

Oil rises 16% YTD on Middle-East crisis: How will the fresh spike impact India and world markets—Explained

Live Mint  

Oil prices are up around 16 per cent so far this year near the $90 per barrel-mark, with supply worries high given escalating Middle East tensions between Iran and Israel and back-to-back attacks on energy infrastructure between Ukraine and Russia. {{^adFree}} {{/adFree}} The International Monetary Fund has described an "adverse scenario" in which an escalation of conflict in the Middle East would lead to a 15 per cent jump in oil prices and higher shipping costs that would hike global inflation by about 0.7 percentage points. India - a net importer of crude oil which fulfills as much as 85 per cent of its energy needs through imports, is likely to see a heavier import bill if global crude oil prices keep rising throughout the year. The country's crude oil import dropped 16 per cent in FY24 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. {{^adFree}} {{/adFree}} However, economists say that even amid high international crude oil prices, India should be able to keep its import bills for crude oil under check in the near-term, due to the decent supply from the Russian crude oil imports.

India Russia Inflation Impact Oil Prices Adfree Cent Higher Crude Ecb Import Crude Oil Crude Prices World Markets  middleeast  world  cent  import  impact  ytd  spike  fresh  inflation  higher  adfree  rises  india  marketsexplained  oil  prices  crude

History of this topic

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions
2 weeks ago

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions

Live Mint  

New Delhi: Exports of petroleum products took a hit in November, weighed down by sluggish demand in developed economies, a rise in domestic consumption and a significant decline in cheap petroleum imports from Russia. Compounding the issue, India’s imports of Russian crude oil in November fell to their lowest levels since June 2022, according to a recent report from the …

India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P
2 weeks, 6 days ago

India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P

Live Mint  

India is poised to close 2024 with a higher oil demand growth rate than China, underscoring its emergence as a key consumption hub in Asia, according to a report by S&P Global Commodity Insights. "India is set to end the year with its oil demand growth rate surpassing China's, making it one of the fastest-growing consumption centres," the report noted, …

Oil prices up in thin pre-Christmas trade
Trending News
3 weeks, 1 day ago

Oil prices up in thin pre-Christmas trade

Live Mint  

By Katya Golubkova TOKYO, Dec 24 - Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by U.S. economic data and rising oil demand in India, the world's third-largest oil importer. In the shorter term, traders are looking for indications of U.S. demand from the crude oil and fuel stockpiles data …

Middle East share of India’s Nov oil imports at 9-month high; Russia down
3 weeks, 2 days ago

Middle East share of India’s Nov oil imports at 9-month high; Russia down

Live Mint  

By Nidhi Verma NEW DELHI - India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. The world's third biggest oil importer and consumer in November shipped in 13% less Russia oil compared with October at 1.52 million barrels per day, …

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl
3 weeks, 4 days ago

Oil sheds 3% in 5 days on US Fed rate cut outlook, weak Chinese demand; Brent slips below $73/bbl

Live Mint  

International crude oil prices settled little changed in the previous session after markets weighed weak Chinese demand and fewer interest rate-cut expectations by the US Federal Reserve after recent prints of US inflation. -The US dollar retreated from a two-year high but was heading for a third consecutive week of gains after data showed cooling US inflation two days after …

Oil India share price jumps over 3% after the announcement of this JV. Should you buy?
1 month, 3 weeks ago

Oil India share price jumps over 3% after the announcement of this JV. Should you buy?

Live Mint  

Oil India share price jumped over 3% on Tuesday after the company entered into an agreement with TotalEnergies to collaborate on methane emissions detection and measurement. Oil India Ltd signed a Cooperation Agreement with TotalEnergies to carry out methane emissions detection and measurement campaigns using TotalEnergies’ pioneer AUSEA1 technology at OIL sites in India, the state-run company said in a …

Trump Factor: Decoding the potential impact on crude prices and India’s oil economy
2 months ago

Trump Factor: Decoding the potential impact on crude prices and India’s oil economy

Live Mint  

Energy markets are attempting to understand the implications of Donald Trump's presidency on oil and gas prices. Analysts predict that his actions could significantly influence global crude oil prices, with an 80% likelihood of a decline. Trade-related uncertainties and tensions continue to pose challenges for crude oil prices, particularly affecting energy prices in the US. Overall, declining crude prices can …

'India did the entire world a favour': Union Minister Puri on India's stance to buy Russian oil
2 months, 1 week ago

'India did the entire world a favour': Union Minister Puri on India's stance to buy Russian oil

New Indian Express  

India's decision to purchase oil from Russia amidst global uncertainties has played a crucial role in preventing a potential spike in global oil prices, said Union Petroleum and Natural Gas Minister Hardeep Singh Puri. In an interview with CNN's Becky Anderson on the sidelines of the annual ADIPEC energy industry event in Abu Dhabi, the Union Minister stated that without …

Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again
2 months, 2 weeks ago

Oil Prices Fall as Reality of Weak Global Demand Takes Center Stage Again

Associated Press  

Oil prices are falling as the reality of weak global demand takes center stage again. The price of benchmark U.S. crude tumbled 6% Monday after a weekend retaliatory strike by Israel on Iran targeted military sites rather than the oilfields of the world's seventh largest producer of crude. This puts the price of a barrel of U.S. crude well under …

Oil prices fall as reality of weak global demand overtakes risk of wider war in Middle East
2 months, 2 weeks ago

Oil prices fall as reality of weak global demand overtakes risk of wider war in Middle East

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Global oil prices are falling …

Oil Prices Soar as Middle East Tensions Escalate
3 months, 1 week ago

Oil Prices Soar as Middle East Tensions Escalate

The Hindu  

Oil prices extend upward march on Mideast tensions, with Brent North Sea crude reaching close to $80 per barrel on Monday. The rise is partly attributed to concerns about geopolitical unrest in the Middle East, but also to hopes of stronger Chinese demand after Beijing recently announced major stimulus measures to boost its flagging economy.

Iran-Israel war: How a prolonged Middle Eastern conflict could affect Indian stock market, gold prices
3 months, 1 week ago

Iran-Israel war: How a prolonged Middle Eastern conflict could affect Indian stock market, gold prices

Live Mint  

Geopolitical tensions and economic uncertainty may prompt central banks to reconsider rate cuts, influenced by rising oil prices and conflicts in the Middle East. {{^adFree}} {{/adFree}} With Indian stocks already trading at premium valuations, a prolonged conflict could prompt global investors to shift their focus away from India, which is currently one of the world’s top-performing stock markets, according to …

Oil prices jump again on worries about the Middle East as Wall Street fades
3 months, 1 week ago

Oil prices jump again on worries about the Middle East as Wall Street fades

LA Times  

Crude prices jumped Thursday on worries that worsening tensions in the Middle East could disrupt the global flow of oil, while U.S. stocks pulled back further from their records. One showed growth for real estate, healthcare and other U.S. services businesses accelerated to its strongest pace since February 2023 and topped economists’ expectations, though employment trends may be slowing. Outside …

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary
4 months ago

Govt may cut petrol and diesel prices if global prices remain low: Petroleum Secretary

Live Mint  

Secretary at the Ministry of Petroleum and Natural Gas, Pankaj Jain, said on Thursday that oil companies will consider cutting fuel prices if crude oil remains low for an extended period. With the rise in fuel demand, India wants increased output from the Organisation of Petroleum Exporting Countries, its allies, and Russia, the Oil Secretary added. Global crude oil prices …

Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel
6 months, 2 weeks ago

Oil prices rise on OPEC production cuts, summer consumption hopes; Brent rises 0.81% to $85.69 per barrel

Live Mint  

Oil prices rose on Monday, fuelled by increasing summer demand optimism and the supply cuts by the Organisation of the Petroleum Exporting Countries. On Monday, Brent crude futures rose 0.81 per cent or 69 cents to $85.69 per barrel as of 13:36. Both the commodity contracts increased nearly 6 per cent in June, with Brent settling around $85 per barrel …

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?
8 months, 1 week ago

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What’s cooling down the commodity?

Live Mint  

Oil prices extended losses on Friday, May 3, 2024 and stayed on course for the steepest weekly loss in three months, as investors weighed lower-than-expected US jobs data and the timing of interest rate cuts by the US Federal Reserve. Coming to domestic prices, crude oil futures declined 0.76 per cent to ₹6,551 per barrel on the multi commodity exchange. …

Israel-Iran tensions threaten to send oil, LNG prices soaring, experts warn of volatility in Indian markets
8 months, 3 weeks ago

Israel-Iran tensions threaten to send oil, LNG prices soaring, experts warn of volatility in Indian markets

Live Mint  

The ongoing conflict between Iran and Israel has intensified in recent days and is threatening to disrupt the crucial oil and liquified natural gas imports to India through the Strait of Hormuz. Iran has threatened to block the vital passage of sea, which can create oil/LNG supply bottlenecks for countries like India which import crude oil from Saudi Arabia, Iraq, …

Petroleum minister discusses ongoing market volatility with Opec secretary-general
8 months, 3 weeks ago

Petroleum minister discusses ongoing market volatility with Opec secretary-general

Live Mint  

New Delhi: Hardeep Singh Puri, India’s Union minister for petroleum and natural gas, on Friday discussed with Haitham Al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries, the ongoing volatility in the energy market due to the Iran-Israel conflict. “As one of the world’s fastest-growing economies, India is committed to supporting efforts to achieve balance in global energy …

Iran-Israel Tensions: How do they impact Indian stock market? Here’s what experts say
9 months ago

Iran-Israel Tensions: How do they impact Indian stock market? Here’s what experts say

Live Mint  

The Indian market cracked around 1 percent in intra-day deals today following losses in global peers amid escalating geopolitical tensions in the Middle East. Meanwhile, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, as well, noted that signals from the crude market indicate that the tensions are unlikely to escalate but advises caution to investors in the short term …

Oil prices subdued, energy security concerns escalate on West Asia tensions
9 months ago

Oil prices subdued, energy security concerns escalate on West Asia tensions

Live Mint  

Global crude oil prices ticked lower on Monday as traders assessed the extent of damage and associated risks following Iran’s attack on Israel's military facilities. However, higher US crude oil stocks and strength in the dollar index limits gains of crude oil…If tensions further escalate in the Middle East, could certainly disturb global supply conditions and oil prices could boil …

Oil prices slip amid interest rate outlook; Brent crude at $81.42/bbl
10 months, 2 weeks ago

Oil prices slip amid interest rate outlook; Brent crude at $81.42/bbl

Live Mint  

Oil prices experienced a slight decline amid speculation that unexpectedly robust inflation figures might postpone reductions in high interest rates, which have been restraining global fuel demand growth. Brent crude futures saw a decrease of 20 cents, marking a 0.3% drop to $81.42 per barrel by 1415 GMT. This downward trend follows last week's losses, with Brent experiencing a decline …

Geo-political tensions could keep crude prices elevated in the near term: Report
10 months, 3 weeks ago

Geo-political tensions could keep crude prices elevated in the near term: Report

Live Mint  

Crude oil prices have been steadily climbing since the start of 2024, driven by increasing geopolitical tensions. Excess supply of crude oil in physical markets As far as global supply is concerned, ICICI Bank Global Markets said that there has been a notable drop in OPEC+ crude oil production in January, marking the steepest plunge in six months. The shortfall …

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC
10 months, 3 weeks ago

India's crude oil output up 0.7% to 2.5 MMT in January, imports rise 5.7% YoY: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in January 2024 - registering a growth of 0.7 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports increased by 5.7 per cent and 0.9 per cent during January 2024 and April-January 2023-24 respectively, compared to the corresponding period of …

India oil product demand up 8.2% in January, says report
10 months, 4 weeks ago

India oil product demand up 8.2% in January, says report

Live Mint  

New Delhi: India's demand for oil products saw a significant increase of 398,000 barrels per day, or 8.2%, year-on-year in January, according to a report by S&P Global Commodity Insights. LPG and gasoline demand saw the highest growth in January, driven by increased heating needs during the winter and a rise in mobility following year-end holidays, respectively. In January, jet …

India’s petrochemical exports to face tough global competition: IEA official
11 months, 1 week ago

India’s petrochemical exports to face tough global competition: IEA official

Live Mint  

As India plans to boost its oil refining and petrochemicals capacity, its petrochemical exports are expected to face tough competition globally with increasing Chinese capacity already creating pressure in the global markets, said Toril Bosoni, head of oil industry and markets division, International Energy Agency. In its report, the IEA said that India's oil demand will reach 1.2 million barrels …

Petrol, diesel fresh prices: Check rates of different cities on January 31
11 months, 2 weeks ago

Petrol, diesel fresh prices: Check rates of different cities on January 31

India TV News  

Every day, at 6 am, the curtain lifts on the prices of petrol and diesel, unfazed by the ebb and flow of market dynamics. This daily practice is a product of the strategic manoeuvres of oil marketing companies, adept at recalibrating prices based on the mercurial shifts in global crude oil prices and foreign exchange rates. With a finger on …

Oil prices extend over 1% drop ahead of US Fed policy verdict; Brent at $81
11 months, 2 weeks ago

Oil prices extend over 1% drop ahead of US Fed policy verdict; Brent at $81

Live Mint  

Oil prices edged lower on Tuesday, January 30, extending a more than one per cent drop in the previous session on China's economic outlook, however the losses were kept in check by supply fears driven escalating tensions in the Middle East. Back home, on the Multi Commodity Exchange, crude oil futures due for a February 16 expiry, was last trading …

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC
11 months, 3 weeks ago

India's crude oil output down 1.03% to 2.5 MMT in December, imports rise 1.1% YoY: PPAC

Live Mint  

Crude oil imports increased by 1.1 per cent and 0.4 per cent during December 2023 and April-December 2023 respectively, compared to the corresponding period of the previous year. The cumulative natural gas consumption for the current financial year till December 2023 stood at 49,540 MMSCM, which was higher by 9.4 per cent compared with the corresponding period of the previous …

Oil scores weekly gain as Middle East risk offsets China concerns; Brent at $78
11 months, 3 weeks ago

Oil scores weekly gain as Middle East risk offsets China concerns; Brent at $78

Live Mint  

Oil prices settled slightly lower in the previous session but recorded a weekly gain as Middle East tensions and disruptions to oil output offset concerns about the Chinese and global economies. Back home, on the Multi Commodity Exchange, crude oil futures due for a February 16 expiry, settled 0.28 per cent higher at ₹6,045 per bbl, having swung between ₹6,084 …

OMC stocks recover off lows after OPEC's bullish demand forecast; BPCL up 3%, IOC, HPCL hit 52-week highs
11 months, 4 weeks ago

OMC stocks recover off lows after OPEC's bullish demand forecast; BPCL up 3%, IOC, HPCL hit 52-week highs

Live Mint  

Shares of Indian oil marketing companies recovered off lows and scored record-high levels on Thursday, January 18, a day after the the Organistation of Petroleum Exporting Countries provided a bullish demand growth forecast for oil markets, despite the ongoing geopolitical conflicts. Similarly, shares of Hindustan Petroleum Corporation Limited surged significantly and were locked at five per cent upper circuit to …

‘Oil markets well supplied’, says IEA as it raises 2024 global demand forecast; projects lower than OPEC
11 months, 4 weeks ago

‘Oil markets well supplied’, says IEA as it raises 2024 global demand forecast; projects lower than OPEC

Live Mint  

The International Energy Agency has again raised its global oil demand growth forecast for 2024. With the conflict in the Middle East raising concerns over supply, the IEA said that - barring significant disruptions to flows - the market looked reasonably well supplied in 2024 and a surplus could emerge if OPEC and its allies unwind output cuts as scheduled …

Red Sea crisis will lead to oil price hike in India: World Economic Forum chief
1 year ago

Red Sea crisis will lead to oil price hike in India: World Economic Forum chief

India Today  

The ongoing tensions in the Red Sea due to recurrent attacks on merchant ships by Yemen's Houthi rebels have a negative impact on the global supply chain and would lead to a $10-20 increase in oil prices for oil-importing countries like India, which could have negative effects on its economy, World Economic Forum president Borge Brende said. We also know …

Crude oil prices falling but no relief to public: Kharge slams Centre
1 year ago

Crude oil prices falling but no relief to public: Kharge slams Centre

Hindustan Times  

New Delhi: Congress president Mallikarjun Kharge on Thursday criticised the central government for failing to lower petrol and diesel prices claiming there has been a significant drop in global crude oil prices. Congress president Mallikarjun Kharge “Crude oil prices have plunged by 31% over 19 months,” he said and accused Prime Minister Narendra Modi-led Bharatiya Janata Party government at the …

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC
1 year ago

India's crude oil output down 0.4% to 2.4 MMT in November, imports decrease 2.3% YoY: PPAC

Live Mint  

India produced a total of 2.4 million metric tonnes of crude oil in November 2023 - registering a de growth of 0.4 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. Crude oil imports decreased by 2.3 per cent and increased by 0.4 per cent during November 2023 and April-November 2023 respectively, compared to the …

Brokerage maintains ‘buy’ on ONGC, Oil India as Brent hovers at $80; here’s why
1 year ago

Brokerage maintains ‘buy’ on ONGC, Oil India as Brent hovers at $80; here’s why

Live Mint  

Oil marketing companies in India will find support with international crude oil prices sustaining below the $80 per barrel mark in the near-term. The three major OMCs - Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited reported decent earnings growth in the July-September quarter of fiscal 2023-24 with improved gross refinery margins. The brokerage has …

OMC stocks on uptrend over lower crude oil prices; BPCL, HPCL see sharp gains, Indian Oil hits 52-week high
1 year, 1 month ago

OMC stocks on uptrend over lower crude oil prices; BPCL, HPCL see sharp gains, Indian Oil hits 52-week high

Live Mint  

Shares of Indian oil marketing companies are on an uptrend as noted in the last few sessions over the declining prices of international crude oil as investors expect limited effects of supply cuts announced by the Organistation of Petroleum Exporting Countries and its allies. {{^adFree}} {{/adFree}} Shares of Indian Oil Corporation gained 3.5 per cent on Friday, December 15, to …

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC
1 year, 1 month ago

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in October 2023 - registering a growth of 1.3 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. According to PPAC data, crude oil imports increased by 2.2 per cent and by 0.6 per cent during October 2023 and April-October 2023 respectively, compared …

Oil prices slump 4% after OPEC+ postpones output policy meeting to November 30; Brent drops to $79/bbl
1 year, 1 month ago

Oil prices slump 4% after OPEC+ postpones output policy meeting to November 30; Brent drops to $79/bbl

Live Mint  

Oil prices plunged 4 per cent on Wednesday, November 22, after the Organisation of Petroleum Exporting Countries and it allies unexpectedly delayed the policy meeting on output planned for Sunday, raising questions about the future course of crude production cuts. {{^adFree}} {{/adFree}} Back home, on the Multi Commodity Exchange, crude oil futures due for a December 18 expiry, was last …

From $89 to near $100 and back: How Brent crude moved since last Diwali over OPEC+ cuts & more
1 year, 2 months ago

From $89 to near $100 and back: How Brent crude moved since last Diwali over OPEC+ cuts & more

Live Mint  

Crude oil benchmark Brent futures has moved sideways in the last one year - between November 2022 to November 2023, majorly due to the supply cuts announced by the Organisation of Petroleum Exporting Countries and its allies as well as the Israel-Hamas war. The shock cut, led by Saudi Arabia, immediately drove crude oil prices 8 per cent higher to …

Oil headed for third weekly decline on global demand concerns; Brent ticks higher to $81/bbl
1 year, 2 months ago

Oil headed for third weekly decline on global demand concerns; Brent ticks higher to $81/bbl

Live Mint  

Oil prices rose on Friday but are set to fall for a third week amid signs of slowing demand and as market attention turns to a key meeting of OPEC and its allies this month which will determine the group's next move on production. Back home, on the Multi Commodity Exchange, crude oil futures due for a November 17 expiry, …

Crude price rise: Anand Rathi initiates coverage on ONGC, Oil India
1 year, 2 months ago

Crude price rise: Anand Rathi initiates coverage on ONGC, Oil India

Live Mint  

Though we don’t expect them to flare up to FY23 highs, recovering demand and OPEC’s supply cuts would keep crude prices high and support upstream companies ONGC and Oil India, said brokerage house Anand Rathi in a recent report. On the back of this current scenario, the brokerage has initiated coverage on upstream companies ONGC and Oil India with ‘Buys’ …

Oil ticks higher on optimism ahead of Biden’s Israel trip; Brent at $90/bbl
1 year, 2 months ago

Oil ticks higher on optimism ahead of Biden’s Israel trip; Brent at $90/bbl

Live Mint  

Oil prices edged higher on Tuesday, October 17, ahead of a trip by US President Joe Biden to the Middle East that is likely to involve balancing support for Israel with trying to prevent any regional escalation of its war with Hamas. Back home, on the Multi Commodity Exchange, crude oil futures due for a October 19 expiry, was last …

Brent inches 1% higher to $86/bbl as OPEC sticks to 2024 oil demand, IEA downgrades on macro concerns
1 year, 3 months ago

Brent inches 1% higher to $86/bbl as OPEC sticks to 2024 oil demand, IEA downgrades on macro concerns

Live Mint  

OPEC stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further demand gains in China. The Organisation of Petroleum Exporting Countries has stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs …

Investors flee shares on widening war fear
1 year, 3 months ago

Investors flee shares on widening war fear

Live Mint  

Investors offloaded shares Monday on concerns about the economic fallout from the Israel-Hamas conflict. Though retail figures aren’t available, the sharper 1.3-1.6% fall in the Nifty Midcap 150 and the Nifty Smallcap 250 indices suggests significant selling by retail as the provisional purchase of ₹2,661.67 crore by domestic institutional investors, including mutual funds, couldn’t stave off the market fall. “From …

Oil prices soar on Israel-Hamas conflict; India watching situation closely
1 year, 3 months ago

Oil prices soar on Israel-Hamas conflict; India watching situation closely

Live Mint  

New Delhi: International crude oil prices surged on Monday amid the military clash between Israel and Hamas forces of Palestine. Sharad Chandra Shukla, director at Mehta Equities said the recent escalation in the Israel-Palestine conflict has injected uncertainty into global markets, leading to a surge in crude oil prices and a hardening of US Treasury yields. “Oil prices rose more …

Oil prices jump more than $4 as Middle East violence rattles markets
1 year, 3 months ago

Oil prices jump more than $4 as Middle East violence rattles markets

The Hindu  

Oil prices jumped more than $4 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East. The surge in oil prices reversed last week's downward trend - the largest weekly decline since March - in which Brent fell about 11% and WTI retreated …

India tells OPEC it must be sensitive to needs of oil consuming nations
1 year, 3 months ago

India tells OPEC it must be sensitive to needs of oil consuming nations

Live Mint  

New Delhi: With oil prices on the boil, union petroleum and natural gas minister Hardeep Singh Puri has asked the Organisation of the Petroleum Exporting Countries to be sensitive to the needs of oil-consuming nations and curb output cuts. In another tweet, the minister wrote, "During the pandemic, when crude oil prices crashed, the world came together to stabilize the …

Global oil prices could hit $100 a barrel: How it will impact the world
1 year, 3 months ago

Global oil prices could hit $100 a barrel: How it will impact the world

Firstpost  

The increasing oil prices complicates the global fight against inflation and feeds Russia’s war chest. That poses problems for politicians as well as the people having to spend more to get to work, transport the world’s goods or harvest fields The year 2023 is seeing a major increase in crude oil prices, with Brent Crude rising by nearly 19 per …

Explained: Why surging oil prices is bad for Indian rupee
1 year, 3 months ago

Explained: Why surging oil prices is bad for Indian rupee

India Today  

The Indian rupee could come under pressure and decline significantly in comparison to the US dollar, analysts have warned. Analysts quoted in a Reuters report fear that a combination of factors, including surging crude oil prices and a rally of the US dollar index, could lead to a significant decline in the Indian currency’s value. Oil on the boil Brent …

Discover Related