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MIDDLE EAST OIL SOURCING
Japan's Idemitsu quadruples FY27 profit forecast to $1.86 billion on stronger oil pricesIdemitsu Kosan has raised its profit forecast for fiscal 2026 to 295 billion yen due to strong performance. The company's net profit for th...- Iran says tanker struck mine, caught fire in HormuzAn oil tanker has been engulfed in flames after striking a mine in the Strait of Hormuz, as Iran continues to limit maritime traffic since ...
- Trump's Iran war pause is as costly as new strikesGulf energy producers are facing higher operational costs due to the ongoing conflict with Iran. While crude oil exports have shown a recov...
- West Asia crisis fuels crude conflict in Myanmar civil warMyanmar imports 90 percent of its fuel oil, official figures show, making it particularly vulnerable to supply issues caused by the US-Isra...
- Easing global headwinds, lower crude oil prices may further lift rupee in coming months: EconomistsEconomists predict the Indian rupee will strengthen against the US dollar in the coming months. Factors contributing to this appreciation i...
- Iran says two oil tankers on fire in HormuzIran's Revolutionary Guards have reported that two oil tankers caught fire in the Strait of Hormuz. The vessels were allegedly traveling al...
- Middle East oil price war heralds post-conflict glut: BoussoThe Strait of Hormuz has become a bustling corridor for Middle Eastern oil, with exports rising sharply since September. However, the ongoi...
- Iran Guards say two tankers caught fire in HormuzOn Friday, Iran's Revolutionary Guards reported a fire involving two oil tankers in the Strait of Hormuz. This incident came soon after cla...
- Asia fuel oil benchmarks slump as market prices in potential Iran war de-escalationAsian fuel oil benchmark prices underwent a steep decline this week, driven by expectations of heightened supplies from the Middle East. Th...
- Middle East crude oil premiums tumble to pre-war levels amid ample supplyMiddle Eastern crude exports have increased in September and October, leading to declining spot premiums. Dubai's cash premium to swaps fel...
- Oil falls for a fourth day on expectations for lower risk of Iran war escalationOil prices have been falling for several days, influenced by the outcomes of Congressional elections this week. The results may signal a le...
- South Korea to expand anti-piracy unit operations closer to Strait of HormuzSouth Korea is planning to broaden the operational area of its Cheonghae unit in the Middle East. Following pressure from Donald Trump, the...
- MRPL boosts delivered oil buying as Iran war raises shipping risksMangalore Refinery and Petrochemicals Ltd plans to increase crude oil purchases on a delivered basis. This strategy aims to reduce shipping...
- Oil slide, Treasury strength boost Indian bondsIndian government bonds experienced an increase due to a significant decline in crude oil prices. A Democratic sweep in the US midterm elec...
- Oil edges down as investors await US midterm election resultsOil prices decreased due to investor caution ahead of the US midterm elections and ongoing peace negotiations. Brent futures and West Texas...
- IndiGo, Indian Oil and other crude-sensitive stocks rally up to 4% as oil dips below $105/bbl. Where are prices headed?Crude-sensitive stocks such as IndiGo, BPCL, HPCL and Indian Oil rallied up to 4% as oil prices declined for a second consecutive session a...
- Oil Price Today (November 3): Crude oil rebounds to $105 as fresh attacks outweigh peace talks. What are experts saying?Crude oil price : Oil prices experienced a slight increase following reports of a US strike on Iran's Qeshm Island. Concerns have risen reg...
- Middle East war helps lift Reliance’s oil-to-chemicals earnings to an all-time highReliance Industries' oil-to-chemicals sector reported record earnings due to soaring global fuel prices. The firm credited this success to ...
- Reliance looks to Latin America, North America and the Mediterranean as Middle East oil disruptions put supply chains under pressureIn response to global energy market turmoil, Reliance Industries revamped its crude oil sourcing strategy for the July-September quarter. T...
- High freight rates narrow Indian refiners’ crude oil choices, squeeze marginsWith freight rates reaching unprecedented levels, Indian refiners are facing escalating crude oil expenses that are eroding their margins. ...
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