Oil prices soar on Israel-Hamas conflict; India watching situation closely
1 year, 2 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 than 4% in early Asian trading on Monday as Hamas attack on Israel threatened to inflame tensions in the Middle East, the source of around a third of the world’s crude, with Iran said to be supporting Hamas,” said Ravindra Rao, head of commodity research at Kotak Securities Ltd. Rise in crude oil prices comes is a major concern for India as it may inflate the country’s import bill.

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History of this topic

Oil prices up in thin pre-Christmas trade
1 hour, 30 minutes 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 …

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022
1 week, 1 day ago

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022

Live Mint  

India's import of Russian crude dropped to its lowest level since June 2022 in November this year, reported the news agency PTI on Sunday, December 15, citing a Centre for Research on Energy and Clean Air report. “India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022,” the …

Iran-Israel war: How a prolonged Middle Eastern conflict could affect Indian stock market, gold prices
2 months, 2 weeks 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 …

India saved USD 13 billion by importing discounted Russian crude
7 months, 3 weeks ago

India saved USD 13 billion by importing discounted Russian crude

New Indian Express  

NEW DELHI: India has saved around $13 billion by importing discounted crude oil from Russia in the past two years, according to a study by ICRA, the rating agency. According to energy cargo tracker Vortexa, India received 1.36 million barrels of crude oil per day from Russia in March 2024, compared to 1.27 million barrels per day in February 2024. …

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

Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz
8 months ago

Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz

Hindustan Times  

Oil and LNG prices are likely to shoot up if Iran is to block Strait of Hormuz, through which countries like India import crude oil from Saudi Arabia, Iraq and UAE, leading to a spike in inflation, analysts said on the Iran-Israel conflict. Iran-Israel conflict: Oil, LNG prices may rise if Tehran blocks Strait of Hormuz The Iran and Israel …

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%
8 months ago

India's crude oil import bill drops 16% in FY24, import dependence soars to 87%

Live Mint  

India's crude oil import dropped 16 per cent in the fiscal year ended March 31 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. {{^adFree}} {{/adFree}} But it paid USD 132.4 billion for the imports in FY24 as against USD 157.5 billion import bill in 2022-23, oil ministry's Petroleum Planning and …

Iran-Israel Tensions: How do they impact Indian stock market? Here’s what experts say
8 months, 1 week 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 drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl
9 months ago

Oil prices drop on weaker US fuel demand, Gaza ceasefire report; Brent rebounds to $85/bbl

Live Mint  

Oil prices declined on Thursday, March 21, pressured by weaker US gasoline demand data and reports of a United Nations draft resolution calling for a ceasefire in Gaza. US West Texas Intermediate futures for May were down 69 cents, or 0.9 per cent, to $80.58 per barrel after a fall of about 1.8 per cent in the previous session, according …

Oil prices rise on uncertainty over Gaza ceasefire, OPEC cut; Brent at $83/bbl
9 months, 3 weeks ago

Oil prices rise on uncertainty over Gaza ceasefire, OPEC cut; Brent at $83/bbl

Live Mint  

Oil prices rose on Tuesday, February 27, as the market focused on uncertainty over a potential Gaza ceasefire and some expectations that the Organization of Petroleum Exporting Countries will extend voluntary supply cuts in March. Back home, on the Multi Commodity Exchange, crude oil futures due for a March 19 expiry, was last trading 0.59 per cent higher at ₹6,504 …

Geo-political tensions could keep crude prices elevated in the near term: Report
10 months 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 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’s High-Stakes Geopolitical Chess in The Midst of Israel-Hamas Conflict
10 months, 3 weeks ago

India’s High-Stakes Geopolitical Chess in The Midst of Israel-Hamas Conflict

News 18  

Maritime security India has got its hands full with protecting its ships in the Indian Ocean. India’s proactive stance in maritime rescues could potentially thaw frosty relations and encourage neighbouring countries to engage in collaborative security dialogues. Navigating International Narratives As the Israel-Hamas conflict unfolds, it could ignite a series of international debates that resonate within India’s political arena. By …

No disruption in oil flows to India, only freight up: HPCL head
10 months, 3 weeks ago

No disruption in oil flows to India, only freight up: HPCL head

The Hindu  

The ongoing attacks on shipping vessels by Houthi militants in the Red Sea have not impacted the flow of crude oil to India but freight has gone up due to rerouting via the Cape of Good Hope, Hindustan Petroleum Corporation Limited Chairman Pushp Kumar Joshi said. OPINION | The larger message to New Delhi from the Red Sea In a …

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

India reduces import of Russian crude oil over pricing
11 months, 1 week ago

India reduces import of Russian crude oil over pricing

Hindustan Times  

Indian refiners have significantly cut Russian crude imports and plan to further decrease shipments from the sanctions-hit country after Moscow steeply reduced discounts from about $10 a barrel to around $2 in recent months, at least four people directly aware of the development said. Indian oil companies have decided to cut crude imports from Russia because of only one reason, …

Crude oil prices falling but no relief to public: Kharge slams Centre
11 months, 2 weeks 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 …

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 could reach ‘uncharted waters’ if the Israel-Hamas war escalates, the World Bank says
1 year, 1 month ago

Oil prices could reach ‘uncharted waters’ if the Israel-Hamas war escalates, the World Bank says

Associated Press  

WASHINGTON — The World Bank reported on Monday that oil prices could be pushed into “uncharted waters” if the violence between Israel and Hamas widens, which could result in increased food prices worldwide. The World Bank’s Commodity Markets Outlook found that while the effects on oil prices should be limited if the conflict doesn’t expand, the outlook “would darken quickly …

Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank says
1 year, 1 month ago

Oil prices could reach 'uncharted waters' if the Israel-Hamas war escalates, the World Bank says

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

How can the Israel-Hamas war impact Indian economy? — Explained
1 year, 2 months ago

How can the Israel-Hamas war impact Indian economy? — Explained

Live Mint  

The current geopolitical conflict in the Middle East due to the ongoing war between Israel and Palestinian terrorist group Hamas has brought fresh global headwinds for the Indian economy. Ever since the war broke out earlier this month, international crude oil prices have risen over 5 per cent and US bond yields have breached the 5 per cent-mark to hit …

Israel-Hamas War: Oil rallies as Gaza hospital blast ratchets up tensions
1 year, 2 months ago

Israel-Hamas War: Oil rallies as Gaza hospital blast ratchets up tensions

Live Mint  

Oil rallied as a deadly explosion at a Gaza hospital boosted tensions in the Middle East before President Joe Biden’s arrival in the region. Following the blast, leaders of Jordan, Egypt and the Palestinian Authority canceled a summit with Biden, complicating the US president’s push to ensure the Israel-Hamas conflict doesn’t widen across the Middle East. A wider conflict could …

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 …

Israel-Hamas War: Oil prices fall as investors assess impact
1 year, 2 months ago

Israel-Hamas War: Oil prices fall as investors assess impact

Live Mint  

Oil prices fell on Monday, partly reversing Friday's rally as investors wait to see if the Israel-Hamas conflict draws in other countries, which could drive up prices and deal a fresh blow to the global economy. "Investors are trying to figure out the impact of the conflict while a large-scale ground assault has not begun after the 24-hour deadline that …

Israel-Hamas War: Global markets watch for fallout as Middle East tensions rise
1 year, 2 months ago

Israel-Hamas War: Global markets watch for fallout as Middle East tensions rise

Live Mint  

Economists and market strategists are anticipating further ripple effects globally from the Middle East conflict, watching to see if the situation draws in other countries with the potential to increasingly drive up oil prices and send capital flowing to safehavens. Oil prices leapt nearly 6% on Friday as investors assessed what the conflict could mean for supplies from nearby countries …

More pain at pump as Israel-Gaza war sparks fears oil price could rise above $US100 a barrel
1 year, 2 months ago

More pain at pump as Israel-Gaza war sparks fears oil price could rise above $US100 a barrel

ABC  

Israel's war on Hamas has sparked fears that oil prices could hit more than $US100 a barrel within weeks if not days if the situation escalates in the Middle East. Key points: Oil prices could continue to rise as the Israel-Gaza war unfolds Analysts say motorists are in for more pain at the pump just before Christmas due to the …

’If the crude oil price go up..’: Min Hardeep Puri on impact of Israel-Hamas war
1 year, 2 months ago

’If the crude oil price go up..’: Min Hardeep Puri on impact of Israel-Hamas war

Live Mint  

Addressing the raising concerns on the impact of ongoing Israel-Hamas war on crude oil, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said that if crude oil prices go up, it will have a very strong and adverse impact on attempts at global economic recovery. "It stands to reason that if the crude oil prices go up, that …

Israel-Hamas war: 9 listed companies that have exposure in the region
1 year, 2 months ago

Israel-Hamas war: 9 listed companies that have exposure in the region

Live Mint  

Israel-Hamas War: The Indian companies that have exposure to Middle East economies have been on their toes for the last few days since the geopolitical tensions erupted in Israel, worried about their operations in the region and the eventual impact on companies' balance sheets. Here are some stocks and companies that have operations in Israel and have exposure to the …

Israel-Hamas war: Impact on Indian stocks
1 year, 2 months ago

Israel-Hamas war: Impact on Indian stocks

Live Mint  

For reasons best known to them, investors and traders don’t think it’s as important as other factors that move markets. If inflation in India remains high due to high crude oil prices, there is a chance the RBI will raise rates. #5 Paint Stocks Whenever crude oil prices go up, the one sector that’s always hit badly is the paints …

Will global oil prices keep rising due to the Israel-Hamas war?
1 year, 2 months ago

Will global oil prices keep rising due to the Israel-Hamas war?

Al Jazeera  

Analysts see limited effect on prices in short term as neither Israel nor Gaza are significant producers. Global oil prices have spiked since fighting erupted between Israel and Hamas amid speculation about how the conflict could affect energy production in the Middle East. Unlike the spike in oil prices that followed Russia’s invasion of Ukraine last year, the fighting between …

What the Israel-Hamas conflict means for energy prices
1 year, 2 months ago

What the Israel-Hamas conflict means for energy prices

The Telegraph  

Conflict in the Middle East has a history of pushing up oil prices. The Yom Kippur War between Israel and a coalition of Arab states in 1973 triggered an oil embargo that caused prices to nearly quadruple in a year. “This month marks 50 years since the 1973 oil shock,” Deutsche Bank analysts wrote in a note sent to clients …

Investors flee shares on widening war fear
1 year, 2 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 …

Israel-Hamas Conflict Sparks Concerns of Oil Price Surge: Impact on India’s Economy Explored
1 year, 2 months ago

Israel-Hamas Conflict Sparks Concerns of Oil Price Surge: Impact on India’s Economy Explored

The Hindu  

A protracted Israel-Hamas conflict could spur oil prices beyond India’s comfort zone and even if the government holds retail fuel prices ahead of critical elections, wholesale prices may spike and a higher import bill could pressure the rupee, according to experts. Brent crude oil prices rose over 3% on Monday, crossing $87 a barrel even as equity markets around the …

How India-Israel trade ties have grown, in charts
1 year, 2 months ago

How India-Israel trade ties have grown, in charts

Live Mint  

Hamas’s unprecedented surprise attack on Israel on Saturday has invited condemnation from Prime Minister Narendra Modi among other global leaders. The trade ties between India and Israel have risen steadily, with a spike last year when Israel became India's fourth-largest destination of petroleum products exports. In 2022-23, India's exports of petroleum products to Israel jumped 3.5 times to $5.5 billion, …

Israel-Hamas war: Can crude oil prices shoot up beyond the $100 per barrel mark?
1 year, 2 months ago

Israel-Hamas war: Can crude oil prices shoot up beyond the $100 per barrel mark?

Live Mint  

Crude oil prices saw a sharp rise on Monday as concerns over supplies grew stronger thanks to the ongoing military clashes between Israel and the Palestinian Islamist group Hamas. However, they do not think crude oil prices could sharply rise and sustain at elevated levels even though the Israel-Palestine issue remains a risk. If the war continues for a longer …

Israel-Hamas war: Oil prices surge by over 4.5% amid Middle East tensions
1 year, 2 months ago

Israel-Hamas war: Oil prices surge by over 4.5% amid Middle East tensions

Hindustan Times  

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 …

Oil prices jump more than $4 as Middle East violence rattles markets
1 year, 2 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 …

Oil price spikes on Israel war. Here’s what a wider conflict might mean
1 year, 2 months ago

Oil price spikes on Israel war. Here’s what a wider conflict might mean

CNN  

London CNN — Global oil prices climbed 4% Monday over fears that the unprecedented weekend attack on Israel by Hamas could escalate into a regional conflict embroiling oil-producing nations. Simone Tagliapietra, a senior fellow at Bruegel, told CNN that the United States had softened its stance in recent months to help secure the release of five American prisoners in Iran, …

India tells OPEC it must be sensitive to needs of oil consuming nations
1 year, 2 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 …

Buy ships to transport energy: Govt to oil cos
1 year, 3 months ago

Buy ships to transport energy: Govt to oil cos

Live Mint  

NEW DELHI : India’s public sector oil and gas companies are looking at purchasing ships to transport oil and gas following a Union government directive aimed to ensure energy security, two people aware of the development said. The move comes at a time of rising crude prices, a price cap on Russian oil, and a bar on the use of …

Crude import costs down 35%, creates room to cut fuel prices
1 year, 4 months ago

Crude import costs down 35%, creates room to cut fuel prices

Live Mint  

NEW DELHI : India’s oil import bill declined 35.3% during the first four months of FY24 due to easing crude oil prices over the past year. This fall in the import bill will likely see oil marketing companies, which operate most of the refineries in the country, increase their refining and marketing margins—and profits too —as retail fuel prices have …

ECONOMIC PERSPECTIVES | On oil’s slippery slope: India’s goods exports struggle to stem decline
1 year, 4 months ago

ECONOMIC PERSPECTIVES | On oil’s slippery slope: India’s goods exports struggle to stem decline

The Hindu  

Published : Jul 27, 2023 11:00 IST - 6 MINS READ At first look, the evidence is worrying. The value of the country’s goods exports in June dropped to an eight-month low of $33 billion, having fallen sharply by 22 per cent year on year. The value of the country’s oil product exports rose from $25.8 billion in the 2020-21 …

Eye on oil: on oil prices and India
1 year, 6 months ago

Eye on oil: on oil prices and India

The Hindu  

The world’s largest grouping of crude oil producers, commonly known as OPEC+, agreed on Sunday to extend ongoing production cuts into 2024 as it seeks to keep oil prices from falling amid concerns about a global economic slowdown. OPEC major and leading producer Saudi Arabia also voluntarily vowed to reduce output by an extra 1 million barrels per day in …

Indian crude basket likely to reflect imports from Russia
1 year, 7 months ago

Indian crude basket likely to reflect imports from Russia

Live Mint  

New Delhi: With Russia emerging as one of the top oil suppliers to India, the Indian crude basket price is likely to factor in the cheaper Russian imports going ahead. The Indian basket of crude oil broadly represents the cost of India’s oil imports, and it has so far not accounted the oil imported from Russia at discounted prices. The …

Why OPEC's crude oil production cut is bad news for India
1 year, 8 months ago

Why OPEC's crude oil production cut is bad news for India

India Today  

The surprise cut in crude oil production by the Organization of Petroleum Exporting Countries on April 2 has shocked commodity markets worldwide, with Brent crude prices climbing $5 a barrel. OPEC’s decision to cut 1.16 million barrels of oil per day to shore up prices has put the world economy, which is already looming under the threat of a recession, …

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?
1 year, 9 months ago

Why Petrol, Diesel Prices Won't Fall in India Despite Cheaper Crude Oil?

News 18  

Even as crude oil prices have fallen significantly following the bank collapses in the US, including Silicon Valley Bank and Signature Bank, the prices of petrol and diesel are unlikely to come down in India. According to a CNBC-TV18 report quoting sources, prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies …

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report
1 year, 9 months ago

Petrol, Diesel Prices In India Unlikely To Be Cut Despite Cheaper Crude Oil: Report

News 18  

Prices of petrol and diesel in India are unlikely to be reduced anytime soon as oil marketing companies have to recover accumulated losses of Rs 18,000 crore due to high crude prices in earlier quarters, according to a CNBC-TV18 report quoting sources. Petrol prices in India have been stagnant since May 2022, when Finance Minister Nirmala Sitharaman reduced the prices …

'US won't impose sanctions on India for purchasing Russian oil despite oil price cap': Top Energy official
1 year, 10 months ago

'US won't impose sanctions on India for purchasing Russian oil despite oil price cap': Top Energy official

India TV News  

The United States on Wednesday confirmed that it was not planning to impose any sanctions on India, amid the fact New Delhi exporting record-high Russian oil irrespective of the European Union and West imposed price cap on energy resources. EU, G7 partners agree on price cap on Russian petroleum products Notably, both the EU and the US adopted further price …

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