crude oil Archives

June 17, 2025 1:36 PM

Oil prices continue to surge amid growing Israel-Iran tensions

Oil prices rose sharply on Tuesday after US President Donald Trump called for the evacuation of Tehran, raising fears of a wider conflict in the Middle East. The prices jumped initially but later eased, as the market stayed cautious about any major ...

February 10, 2025 5:41 PM

India expands crude imports to 40 countries; Argentina joins as new supplier: Hardeep Puri

India has further diversified its crude oil imports, now sourcing from 40 countries, with Argentina joining as the latest supplier, Union Petroleum Minister Hardeep Singh Puri announced on Monday. Speaking at a press conference ahead of India Energy...

December 2, 2024 7:00 PM

Govt withdraws windfall tax on ATF, crude, petrol, and diesel, easing burden on oil companies

The government on Monday announced the withdrawal of the windfall tax on Aviation Turbine Fuel (ATF), crude oil, petrol, and diesel through a notification introduced in the Lok Sabha. The decision comes as a major relief for oil companies like Relia...

October 4, 2024 4:31 PM

Israel-Iran conflict will not significantly impact India’s crude oil imports

The ongoing conflict between Israel and Iran is unlikely to have a significant impact on India's crude oil imports, as analysts point out that India sources only a negligible volume of oil from Iran. The country currently imports oil from around 40 ...

September 27, 2024 4:26 PM

Govt may save over Rs 60,000 crore on crude imports this fiscal: experts

The Indian government could potentially save up to Rs 60,000 crore on crude oil imports this fiscal year due to a decline in global crude prices, according to experts. The international market has seen a softening of crude prices, offering India an o...

June 5, 2024 9:54 AM

Asian stocks rise on rate-cut wagers; spotlight on India

Asian stocks rose on Wednesday, while the dollar was steady as a softening U.S. labour market firmed up bets of an interest rate cut in September from the Federal Reserve ahead of a crucial payrolls report this week. Investor worries of a cooling U....

May 17, 2024 9:14 PM

India’s exports grow in April despite global disruptions

India's trade deficit is facing limited immediate challenges from ongoing geopolitical uncertainties, although it remains a crucial area to monitor, according to a recent Crisil report on India's trade deficit. Despite these potential disruptions, th...

November 2, 2023 3:34 PM

Coal sector records 16.1 percent growth in September

The Combined Index of eight Core Industries (ICI) has shown a significant increase of 8.1% (Provisional) in September 2023, compared to the same period in the previous year. The index of coal sector has showcased impressive growth of 16.1 percent r...