Crude Prices

The rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices. However, strong sentiment at domestic equities market and a weak dollar restricted the fall of the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened stronger at 80.92 to a dollar against the previous close of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day. On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the US dollar. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth. The Brent crude rose 0.26 per cent to USD 87.86 per barrel. On the domestic equity market front, the 30-share BSE Sensex rose by 319.90 points or 0.53 per cent to 60,941.67, while the broader NSE Nifty gained 90.90 points or 0.5 per cent to settle at 18,118.55. Foreign Institutional

A wild swing in international oil prices in 2022 brought back indirect fuel subsidies in India in a setback to reforms, but the nation won at crude diplomacy as it refused to succumb to western pressures and continued to buy oil from the cheapest available source. International oil prices have been turbulent in the last couple of years. It dipped into the negative zone at the start of the pandemic in 2020 and swung wildly in 2022 -- climbing to a 14-year high of nearly USD 140 per barrel in March 2022 after Russia invaded Ukraine, before sliding on weaker demand from top importer China and worries of an economic contraction. But for a nation that is 85 per cent dependent on imports, the spike meant adding to already firming inflation and derailing the economic recovery from the pandemic. So, state-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) froze petrol and diesel prices for the longest ...

Oil prices rose on expectations of lower Russian crude exports from the Baltic region in December, offsetting worries that a looming Arctic storm across the US could snuff out transport fuel demand

It's a sign of gains in equity markets being lopsided, say analysts

Lower global crude prices, higher gross refining margins have driven overall marketing margins upwards

Despite losing its place to Russia in India, the world's third biggest oil importer, the kingdom is confident it holds the cards for crude supplies in the long term

ONGC reported standalone earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 18,810 crore

The Deputy Governor flagged instances of wild swings in sovereign bond yields in response to factors such as the announcement of the government's borrowing programme and interest rate changes

Vedanta's oil and gas business also took a hit due to the windfall tax and lower crude prices in Q2, analysts said

Petroleum Minister Hardeep Puri on Friday said the government has navigated the global energy challenges very well, insulating the developing economy from the rising global crude and gas prices

FPIs buy shares worth Rs 1,345 crore

After jumping nearly 560 points during the session, the 30-share BSE index ended 37.70 points or 0.07 per cent lower at 57,107.52.

The 153% jump in prices of natural gas this year has raised the stakes for the government of India to get its policy right in the sector

The centre may neither pursue arbitration with Gazprom, the world's largest natural gas explorer, nor accept a penalty from the company after it halted supplies to GAIL in May

The three biggest state-run retailers, which together supply more than 90% of India's petroleum fuels, have suffered the worst quarterly losses in years by absorbing record international crude prices

The oil ministry has sought a compensation of Rs 28,000 cr, but the finance ministry is agreeing to only about a Rs 20,000-cr cash payout, say sources

Saudi Aramco posted the biggest quarterly adjusted profit of any listed company globally driven by high crude prices and production

Experts say move is justified but government should clarify how proceeds will be utilised

Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel

Weekend data indicated a surprise contraction in Chinese factory activity, highlighting the cost of Beijing's preference for mobility curbs to tackle Covid-19