Suspends operations at its only fuel refinery after crude oil stocks run out
Analysts have spelt out bleak scenarios for India's finances and growth, assuming strong crude prices
Brent crude for May delivery increased 1.29 dollars, or 1.2 per cent, to close at 107.93 dollars a barrel on the London ICE Futures Exchange, as traders weighed supply risks.
U.S. West Texas Intermediate (WTI) crude futures were up 17 cents, or 0.2 per cent, at $103.15 a barrel, adding to an 8 per cent jump on Thursday
As prices are rising, so are expectations that the government may have to budget more for its infrastructure pipeline.
Stockmarkets took a breather after several days of sizeable gains, while commodities were set on edge by the lack of progress in Russia-Ukraine peace negotiations
Oil prices climbed 8% on Thursday, extending a series of wild daily swings, as the market rebounded from several days of losses with a renewed focus on supply shortages
Wall Street stocks rebounded from early session losses on Thursday as investors weighed economic implications of the Federal Reserve's surprisingly aggressive interest rate stance
The last excise duty cut by the Centre was in November 2021, ahead of elections in five key states, including Uttar Pradesh and Punjab.
The oil market largely shrugged off a decision by the US Federal Reserve on Wednesday to raise interest rates by one-quarter of a percentage point, as anticipated.
Benchmark Brent crude futures gained $7.47, or 7.6%, to $105.49 a barrel by 1427 GMT. U.S. West Texas Intermediate (WTI) crude was up $6.85, or 7.2%, to $101.89 a barrel.
Oil prices climbed after the International Energy Agency (IEA) said markets could lose three million barrels per day (bpd) of Russian crude and refined products from April.
(Reuters) -Oil fell on Wednesday in another volatile session as traders reacted to hoped-for progress in Russia-Ukraine peace talks and a surprising increase in U.S. inventories.
Brent crude rose $2.55, or 2.6%, to $102.46 a barrel by 0923 GMT. U.S. West Texas Intermediate (WTI) crude added $1.34, or 1.4%, to $97.78 a barrel.
CLOSING BELL: Ultratech Cement (up 4.6 per cent) was the top Nifty gainer today. This was followed by Axis Bank, Shree Cement, IndusInd Bank, Bajaj Auto, and Hindalco
Oil prices rose early on Wednesday, bouncing back after earlier falling more than $1 a barrel, as Russia's invasion of Ukraine continues to dominate volatile trading
The S&P 500 was up 39.26 points, or 0.94%, at 4,212.37, and the Nasdaq Composite was up 148.51 points, or 1.18%, at 12,729.73
By David Henry and Stefano Rebaudo
Oil prices fell at the start of the session, extending last week's decline, as a US official said Russia was showing signs it might be willing to have substantive negotiations over Ukraine
Asian shares advanced and oil slipped on Monday on hopes for progress in Russian-Ukraine peace talks even as fighting raged on