Oil prices rose in Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking US rig count added to upward price pressure. Brent crude futures climbed 39 cents, or 0.5 per cent, to $85.82 a barrel… Continue reading Crude oil rises as heightened geopolitical risks exacerbate supply concerns | Economy & Policy News
Tag: crude
Bears may tighten grip on OMC stocks as Crude Oil trades at 6-week high
Web Exclusive Premium OMC stocks are under pressure Oil prices surged for the 6-consectuive week, climbing a 3-month high post displaying a strong accumulation near $70 per barrel from March to June of this year. This is the sharpest and straight up jump the Brent Crude has observed following an intense sell-off since… Continue reading Bears may tighten grip on OMC stocks as Crude Oil trades at 6-week high
Indian refiners push the envelope on Russia crude oil
Indian refiners are concerned after the European benchmark Brent crude rose to the highest level since mid-April, marching towards $90 a barrel. The rise in Brent prices and the output cut by Moscow this month have made Russian Urals crude costlier, complicating matters for Indian importers, led by Indian Oil and Reliance Industries. … Continue reading Indian refiners push the envelope on Russia crude oil
Govt hikes windfall tax on petroleum crude, Nuh violence
Top Headlines: Welfare schemes in poll-bound states, Q1FY24 results, more Top headlines: G20 in J&K, RBI to meet PSB directors, $ at Rs 91 in Hawala Top headlines: Can Tesla sell a Rs 20L electric car, FTA with UAE, and more Top headlines: Jio Financial India’s most valued NBFC, turmeric prices soar Top headlines: IMF… Continue reading Govt hikes windfall tax on petroleum crude, Nuh violence
Govt hikes windfall tax on petroleum crude to Rs 4,250 per tonne from Aug 1
(Reuters) -The Indian government has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with effect from Aug. 1. A windfall tax on diesel has been increased to 1 rupee per litre from nil earlier, according to a government notification on Monday. The windfall… Continue reading Govt hikes windfall tax on petroleum crude to Rs 4,250 per tonne from Aug 1
Indian refiners stock up Urals crude oil before Russian supply cut
Indian imports of Urals grade crude oil from the Russian Federation climbed 13-14 per cent month-on-month to a fresh high in July, according to ship tracking and Russian government data. But there has been a cloud over supplies in August with Russia cutting its oil export. Urals oil — high sulphur,… Continue reading Indian refiners stock up Urals crude oil before Russian supply cut
Four explosions reported in Bangladesh’s Aminbazar, 6 crude bombs recovered
File photo of Bangladesh explosion (Photo: Twitter) Four explosions have been reported in Aminbazar, Savar, the entrance to Dhaka, reported The Dhaka Tribune. The explosions of the crude bomb-like items occurred on the road in front of a filling station in Aminbazar on the Dhaka-Aricha highway at around 2 pm (local time) on… Continue reading Four explosions reported in Bangladesh’s Aminbazar, 6 crude bombs recovered