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OIL SUPPLY CRISIS
Why are oil prices down today, and will Brent futures and US WTI crude prices continue to fall or rise again? Iran-US talks, Strait of Hormuz recovery and US inventory data keep crude market under focusOil prices declined as investors watched Iran-US talks, the recovery of shipping through the Strait of Hormuz, and upcoming US inventory da...- Ukrainian drone attacks on oil refineries plunge Russia into a summer fuel crisisUkrainian drone strikes on Russian oil refineries are causing widespread fuel shortages and long queues at gas stations across Russia. This...
- Oil Price Today (July 1): Crude oil above $73 as Iran rejects direct peace talks with US. Where are prices headed?Brent crude futures were up 50 cents, or 0.69%, at $73.45 a barrel at 1208 GMT. U.S. West Texas Intermediate (WTI) crude rose 63 cents, or ...
- Oil ticks higher as Iran's refusal to meet US envoys dims ceasefire hopesOil prices saw an uptick as Iran's refusal to meet U.S. envoys heightened tensions, impacting the fragile ceasefire. Despite recent decline...
- No single road to clean mobilityIndia stands at a pivotal moment in its mobility sector, where reducing oil dependency is critical due to global energy challenges. Ethanol...
- No sudden shelter from storms: What protected India's oil supply during Hormuz crisisIndia successfully navigated the Hormuz Strait closure, avoiding fuel shortages despite initial fears. This resilience wasn't due to last-m...
- Govt extends customs duty waiver on import of key petrochemical products till July 15The government has extended the nil customs duty on approximately 40 critical petrochemical products by another 15 days, now until July 15....
- Abu Dhabi proposes new oil-pricing system to mirror wider marketAbu Dhabi National Oil Co. is proposing a shift in how it prices crude for term customers, aligning with regional trading norms. The compan...
- India plans to add strategic fuel reserves after Iran war shockIndia is bolstering its energy security by planning strategic reserves of crude oil, LPG, and LNG to cover up to a month's demand, aiming t...
- Sri Lanka reduces fuel prices after Middle East ceasefireSri Lanka on Tuesday cut fuel prices by up to six percent, the first such move since the Middle East war triggered a surge in energy prices...
- Why India stayed resilient through the Hormuz crisisIndia successfully navigated the Strait of Hormuz closure, ensuring energy security for its citizens. Despite a significant drop in West As...
- Repeated crises reaffirm role of PSU oil firmsDuring national emergencies such as floods and the recent pandemic, India's state-run oil companies have shown their crucial importance by ...
- Hormuz traffic eases; Iran revives crude supply pitch to IndiaMaritime traffic through the Strait of Hormuz is normalizing, with most India-bound energy shipments successfully navigating the chokepoint...
- Easing of West Asia conflict reduces downside risk to 6.6% growth forecast: Ram Singh, Director, Delhi School of EconomicsAny moderation in El Nino effects and resolution of geopolitical uncertainty will further reduce the downside risks to growth. Operationali...
- From floods to war, state-run oil firms prove indispensable despite repeated privatisation bidsIndia's state-run oil companies have proven indispensable during national crises, from floods and pandemics to global conflicts. Despite pa...
- Hormuz oil shock echoes 1973 embargo lessonsThe recent Strait of Hormuz closure, though brief, signals a potential turning point for global energy. Echoing the 1973 oil embargo, this ...
- Government restores non-domestic LPG supplies to pre-crisis levelsIndia has restored non-domestic packed LPG supplies to their pre-crisis levels. This welcome development follows a significant improvement ...
- Trump gets trapped between 'rockets and feathers', squirms for exitUS President Donald Trump has ordered a Justice Department investigation into major oil companies, accusing them of keeping gasoline prices...
- India needs to diversify its sources of energy needs, says NITI vice-chairmanNITI Aayog Vice Chairman Ashok Kumar Lahiri highlighted that the West Asia conflict, though a temporary supply chain issue, underscores Ind...
- Rupee rebounds, but risks aboundThe rupee has experienced a brief rebound fueled by optimism surrounding the potential reopening of the Hormuz Strait and a decrease in oil...
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