Based on robust internal fundamentals and low inflation forecasts, India’s major economy will continue to grow at the fastest rate in the world in the 2023–24 fiscal year, according to a report released by the finance ministry on Monday. The Monthly Economic Review’s September issue also noted that recent events in the Persian Gulf have…
Despite a number of events unfolding both domestically and globally over the past few weeks, the rupee has been trading in a limited range with little volatility. Due to a lack of domestic cues, active RBI intervention is keeping volatility in control, and it is anticipated that this will continue throughout the next several weeks…
As supply convoys began to arrive in the Gaza Strip over the weekend and diplomatic efforts were made to prevent a conflict between Israel and the Palestinian Islamist party Hamas from expanding to the larger oil-rich region, oil prices decreased on Monday. U.S. West Texas Intermediate crude futures declined 61 cents to trade at $87.47…
The Reserve Bank of India anticipates a little slowdown over the medium term in light of worries regarding the recent spike in global petroleum prices. According to the RBI’s monthly bulletin, the two largest consumers of crude oil, China’s slowing development and the U.S. anticipated drop in fuel consumption, will keep crude prices at $86…
Oil prices increased by about $2 in early trade on Wednesday as industry data revealed a larger-than-anticipated draw in U.S. oil storage and concerns about Middle Eastern supply disruptions as a result of the escalating Israel-Hamas war. The price of Brent crude futures increased $1.62, or 1.8%, to $91.49 a barrel as investors prepared for…
The price of crude oil had a strong day, rising 5.26% to close at 7,259. The United States tightened its restrictions on Russian crude exports, which led to this remarkable increase. These bans caused supply issues in a competitive market, especially given that fourth-quarter global inventories are predicted to decline. In order to close gaps…
In response to rising oil prices, the Indian rupee faces a record-low danger this week, and bond investors will be watching the central bank’s decision on debt sales. On Friday, Brent crude gained 5.7% as investors priced in the likelihood that the Middle East war could worsen as a result of Israel’s start of military…
With traders being cautious as they kept an eye out for potential supply disruptions due to military hostilities between Israel and the Palestinian Islamist organization Hamas, crude oil prices fell by -0.32% to 7161. As the skirmishes stoked concerns that the violence would move outside of Gaza, Brent and WTI both increased by more than…
Despite favorable domestic macroeconomic statistics, the rupee traded flat at 83.24 against the US dollar in early trade on Friday. This was due to the rising trend in crude oil prices. According to currency analysts, the ongoing flight of foreign funds amid weak Asian equities markets has put pressure on the Indian rupee. The rupee’s…
Due to profit-taking, crude oil prices declined 2.17% to close at 7,623 after surging due to surprise declines in crude stocks. According to U.S. government data, oil stockpiles decreased by 2.2 million barrels more than expected, highlighting supply limits brought on both Saudi Arabia and Russia’s output curbs. Particularly, oil supplies dropped by 943,000 barrels…
