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New Delhi: A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India - where it would have marked the first such shipment in nearly seven years - to China. The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler. There is no confirmation that ...Read More >
NEW DELHI: A US-sanctioned tanker carrying Iranian crude oil has altered its course mid-voyage, dropping India as its destination and rerouting to China, in a move that underscores ongoing challenges in resuming oil trade with Iran.The Aframax tanker Ping Shun, which had been signalling Vadinar in Gujarat earlier this week, is now indicating Dongying in China as its destination, according to ship-tracking firm Kpler. The vessel was expected to deliver what would have been India's first Iranian c ...Read More >
New Delhi, Apr 3 (PTI) A US-sanctioned tanker carrying Iranian crude oil has rerouted mid-voyage from its previously indicated destination of India - where it would have marked the first such shipment in nearly seven years - to China. The Aframax tanker Ping Shun, built in 2002 and sanctioned by the US in 2025, is now signalling Dongying in China as its destination instead of Vadinar in Gujarat, which it had indicated earlier this week, according to ship-tracking firm Kpler. There is no confir ...Read More >
Reliance Industries SEZ refinery will not face new export taxes on diesel and aviation fuel. This exemption stems from judicial pronouncements. The government reintroduced these levies on March 26 to encourage domestic fuel sales. These taxes are reviewed fortnightly. This move aims to manage global energy supply disruptions. Reliance operates two refineries in Jamnagar, Gujarat. The reimposed windfall export taxes on diesel and aviation turbine fuel (ATF) will not apply to Reliance Industries ...Read More >
New Delhi [India], April 2 (ANI): Indian fast-moving consumer goods (FMCG) companies are expected to implement a fresh round of price increases starting in the first quarter of FY27. As per a report by Nuvama Institutional Equities, a sharp rise in crude oil prices and a weakening Rupee have significantly increased input cost pressures, ending a period of relative price stability for the sector. The report forecasts price hikes of at least 3 to 4 per cent in Q1FY27 if the current inflation in r ...Read More >
New Delhi [India], April 2 (ANI): Oil marketing companies (OMCs) in India are currently incurring significant losses on fuel sales as global crude oil prices surge amid the ongoing West Asia conflict, even as retail fuel prices remain unchanged, according to the Ministry of Petroleum and Natural Gas. Addressing reporters at an inter-ministerial briefing on Thursday, Sujata Sharma, Joint Secretary in the Ministry, said that OMCs are facing under-recoveries of about Rs 24 per litre on petrol and ...Read More >
Mumbai: India's economic growth could slow and inflation may rise if crude oil prices remain elevated amid the ongoing West Asia conflict, according to a report by CareEdge Ratings. The report highlighted that if crude oil prices average around USD 100 per barrel, India's GDP growth for FY27 could decline to 6.5 per cent. At the same time, inflation is expected to rise above 5 per cent, reflecting the impact of higher energy costs on the economy. Also Read: India's economy shows early strain; ...Read More >
Mumbai (Maharashtra) [India], April 2 (ANI): India's economic growth could slow and inflation may rise if crude oil prices remain elevated amid the ongoing West Asia conflict, according to a report by CareEdge Ratings. The report highlighted that if crude oil prices average around USD 100 per barrel, India's GDP growth for FY27 could decline to 6.5 per cent. At the same time, inflation is expected to rise above 5 per cent, reflecting the impact of higher energy costs on the economy. Also Read ...Read More >
Mumbai (Maharashtra) [India], April 2 (ANI): India's economic growth could slow and inflation may rise if crude oil prices remain elevated amid the ongoing West Asia conflict, according to a report by CareEdge Ratings. The report highlighted that if crude oil prices average around USD 100 per barrel, India's GDP growth for FY27 could decline to 6.5 per cent. At the same time, inflation is expected to rise above 5 per cent, reflecting the impact of higher energy costs on the economy. The report ...Read More >
New Delhi: Prices of commercial liquefied petroleum gas (LPG) were hiked by Rs 195.50 on Wednesday, on back of surge in global oil prices linked to the widening West Asia conflict. A 19-kg commercial LPG now costs Rs 2,078.50 in Delhi, according to state-owned oil companies. Rates were last increased by Rs 114.5 per 19-kg cylinder on March 1. Domestic cooking gas LPG rates, which were last hiked by Rs 60 per 14.2-kg cylinder on March 7, remain unchanged. It costs Rs 913 per 14.2-kg cylinder in ...Read More >
New Delhi, April 1 (SocialNews.XYZ) India's crude inventory is adequate, and all necessary arrangements have been made to ensure sufficient crude supply for the next two months, the government said on Wednesday. Petroleum and Natural Gas Ministry's Joint Secretary, Marketing and Refinery, Sujata Sharma, said all refineries are operating at optimal capacity, and no instances of fuel shortages have been reported at retail outlets. "I would also like to highlight that about two months ago, Brent ...Read More >
New Delhi, Apr 1 (PTI) Aviation turbine fuel (ATF) prices for domestic airlines were raised by a calibrated 8.5 per cent on Wednesday, instead of more than doubling as warranted by a war-driven surge in global oil prices, even as rates for commercial LPG and premium petrol were also increased amid firm energy trends. ATF or jet fuel for domestic carriers was hiked by Rs 8,289.04 per kilolitre, or 8.56 per cent, to Rs 1,04,927.18 per kl from Rs 96,638.14 per kl last month, according to state-own ...Read More >
New Delhi [India], April 1 (ANI): India's crude oil inventories remain adequate, with the government securing sufficient supplies for the next two months, said Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, on Wednesday during an inter-ministerial briefing amid the ongoing West Asia crisis. Assuring stability in fuel supply, Sharma said, "Our refineries are operating at the highest levels. There have been no reports of any dry-out at retail outlets." Also Read | Hapur S ...Read More >
New Delhi [India], April 1 (ANI): India's crude oil inventories remain adequate, with the government securing sufficient supplies for the next two months, said Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, on Wednesday during an inter-ministerial briefing amid the ongoing West Asia crisis. Assuring stability in fuel supply, Sharma said, "Our refineries are operating at the highest levels. There have been no reports of any dry-out at retail outlets." Highlighting global ...Read More >
Kolkata, Apr 1 (PTI) The escalating West Asia conflict is beginning to exert cost pressure on India's real estate sector, with material prices rising and industry leaders warning of a potential 5 per cent spike in construction costs if hostilities persist through April. Construction schedules are also likely to be affected because of shortage of materials and resources if the conflict prolongs. Harshavardhan Neotia, Chairman of Ambuja Neotia Group, said the crisis is triggering a "classic cost ...Read More >
Kolkata, Apr 1 (PTI) The escalating West Asia conflict is beginning to exert cost pressure on India's real estate sector, with material prices rising and industry leaders warning of a potential 5 per cent spike in construction costs if hostilities persist through April. Construction schedules are also likely to be affected because of shortage of materials and resources if the conflict prolongs. Harshavardhan Neotia, Chairman of Ambuja Neotia Group, said the crisis is triggering a "classic cost ...Read More >
New Delhi, April 1 (SocialNews.XYZ) State-owned oil marketing companies (OMCs) on Wednesday made substantial revisions to prices of both aviation turbine fuel (ATF) and commercial LPG, with rates surging sharply -- including a more-than-doubling in jet fuel prices -- tracking a spike in global oil prices amid the escalating West Asia conflict. Jet fuel prices more than doubled to a record high, while commercial LPG rates also rose significantly, adding to cost pressures across sectors. The pri ...Read More >
SINGAPORE: India's diesel exports to South-East Asia surged to the highest in more than seven years in March, shipping data showed, as traders pivoted supply to cover short positions and refiners cashed in on higher profits in Asia caused by the US-Israeli conflict with Iran. The surge in exports could boost spot sale margins for Indian refiners who have purchased large volumes of prompt Russian crude to replace Middle East supply disrupted by the conflict. About one million metric tonnes (7.4 ...Read More >
New Delhi: The government has raised the administered price mechanism (APM) gas price for state-run producers like state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) to $7 per mmBtu, up from $6.75 per mmBtu. The revision follows the pricing mechanism that the government had approved in 2023, according to an official notification. The revision applies to gas produced from legacy fields under the regulated pricing regime. APM gas makes up for about 60 per cent of the d ...Read More >
New Delhi, March 31 (PTI): India's first Iranian crude oil cargo since 2019 may be headed towards a port in Gujarat, according to ship tracking data. Indian refiners have been looking to purchase a few cargoes of Iranian oil on water following the recent sanctions waiver by Washington. "The Indo-Iranian oil trade has flickered back to life. Following the US administration's decision to grant a 30-day window for Iranian oil "on the water" due to regional conflict, the vessel Ping Shun is now en ...Read More >
New Delhi (IANS): Gold and silver prices will likely open higher in Tuesday's evening session as hopes for de-escalation in the West Asia conflict bolster market sentiment. Following global cues, spot gold jumped 2.39 percent to $4,619.14 per ounce by 11 A.M., while US gold futures for June delivery gained 2 percent to reach $4,649.26. Spot silver advanced 4.82 percent to $73.48 per ounce, and COMEX silver rose 4.44 percent from its previous close to trade at $73.705. On Monday, MCX gold futur ...Read More >
New Delhi, March 31 (SocialNews.XYZ) Gold and silver prices are likely to open higher in Tuesday's evening session amid hopes of de-escalation in the West Asia conflict. Tracking global cues, spot gold jumped as much as 2.39 per cent to $4,619.14 per ounce as of 11 A.M., while US gold futures for June delivery gained 2 per cent to $4,649.26. Similarly, spot silver advanced 4.82 per cent to $73.48 per ounce, while COMEX silver traded at $73.705, up 4.44 per cent from the previous close. On Mon ...Read More >
BENGALURU, March 31 : Oil prices rose for a fourth day on Tuesday, with Brent crude poised for its largest monthly gain on record and U.S. crude futures set for their strongest monthly increase since 2020, because of supply constraints from the widening Middle East war. Brent crude futures for May rose $2.26, or 2 per cent, to $115.04 a barrel at 0002 GMT, after reaching their highest since March 19 during the prior session. The May contract expires on Tuesday and the more active June contract ...Read More >
If SEZ exports remain exempt, Reliance's refining margins would be largely insulated from the new levies, preserving the competitiveness of its export-oriented operations, it said New Delhi: The applicability of newly reimposed export windfall taxes on shipments of diesel and ATF from Reliance Industries' SEZ refinery remains the key uncertainty, following India's fuel duty overhaul, with significant implications for refining margins and government revenues, according to analysts. Under the re ...Read More >
The shockwaves of a war being fought nearly 3,000km away are now reaching India's kitchens. As the US-Israeli strikes on Iran disrupt energy shipments through the Strait of Hormuz, supplies of liquefied petroleum gas (LPG) are tightening across India, forcing restaurants to cut menus, shorten hours and in some cases shut down altogether. Social media is awash with video clips showing queues outside cooking-gas dealers across Indian cities and towns as worries over fuel supplies spread. Commerc ...Read More >
NEW DELHI, March 12 (Reuters) - India's retail inflation rose to 3.21% year-over-year in February, driven by higher prices of food, personal care products and precious metals, government data showed on Thursday. The key price gauge stayed below the Reserve Bank of India's target of 4% and within its tolerance band of 2%-6%, even though soaring oil prices due to the Iran war have raised risks for higher inflation in Asia's fifth-largest economy. A Reuters poll had projected inflation at 3.1%. T ...Read More >
S&P Global Ratings warns that rising crude oil prices and potential government intervention could squeeze the profit margins of Indian oil marketing companies like IOC, BPCL, and HPCL, impacting consumers and the energy sector. Illustration: Uttam Ghosh Key Points * S&P Global Ratings predicts potential margin squeeze for Indian oil marketing companies due to rising crude oil prices. * Geopolitical tensions and the Strait of Hormuz closure contribute to crude oil price volatility, impacting ...Read More >
Investing.com -- India's imports of Russian crude oil are continuing to decline as the country diversifies its suppliers, according to Oil Minister Hardeep Puri. In an interview with Bloomberg Television on Tuesday, Puri noted that shipments from Russia have already dropped to 1.3 million barrels per day, down from an average of 1.8 million barrels per day last year. Access breaking news faster with institutional-grade feeds, immediate stock impact metrics, and analyst response tracking -- get ...Read More >
New Delhi, Dec 17 (PTI) Silver futures rallied sharply by Rs 8,356 to hit a fresh record of Rs 2,06,111 per kilogram on Wednesday amid strong global cues, persistent supply concerns and expectations of rate cuts by the Federal Reserve next year. On the Multi Commodity Exchange (MCX), silver futures for March contract surged by Rs 8,356, or 4.2 per cent, to hit a fresh peak of Rs 2,06,111 per kilogram. It had closed at Rs 1,97,755 per kg on Tuesday. The May 2026 contract for silver also witness ...Read More >
New Delhi, Dec 16 (PTI) Crude oil prices fell Rs 39 to Rs 5,103 per barrel in the futures trade on Tuesday amid weak global cues, as optimism over a possible Russia-Ukraine peace deal fuelled concerns about additional supplies returning to the market. On the Multi Commodity Exchange (MCX), crude oil futures for December delivery decreased by Rs 39, or 0.76 per cent, to Rs 5,103 per barrel in a business turnover of 9,363 lots. Similarly, the January contract declined Rs 44, or 0.85 per cent, to ...Read More >
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