Oil prices rose on Wednesday as supply concerns persisted following a winter storm that disrupted U.S. crude oil production and exports. Geopolitical tensions in the Middle East also provided additional support to prices. The storm is estimated to have disrupted around 2 million barrels per day of U.S. oil production, while crude oil and LNG…
Oil prices fell on Tuesday as expectations grew that oil supplies from Kazakhstan would return to normal. After Kazakhstan announced that it is preparing to restart production at its largest oil field, investors became optimistic that more oil would be available in the market. As a result, Brent and U.S. crude oil prices declined slightly….
As state-run Bharat Petroleum Corporation Ltd. (BPCL) works to expand crude procurement from non-Russian sources, India’s oil import policy is clearly being reevaluated. The Ministry of Petroleum and Natural Gas announced on Friday that BPCL would double the amount of its FY26 contract by purchasing 12 million barrels of crude oil from Brazil’s state-owned Petrobras…
Politico has reported that the U.S. president’s administration is considering imposing a naval blockade to completely block oil imports to the Caribbean nation of Cuba, with the aim of bringing about a regime change there. No final decision has been made on this matter. However, it has been reported that some critics of the Cuban…
Oil prices extended gains for a fourth consecutive day in Asian trading on Tuesday amid supply disruption risks in Iran.Iran, a major producer in the OPEC group, is facing the biggest anti-government protests in years. According to Bloomberg, exports are expected to be 800,000-900,000 barrels per day, which is about 45% less than initial expectations….
Oil prices declined after the US President announced on Wednesday a deal under which Venezuela would export $2 billion worth of crude oil to the United States, a move expected to expand supply to the world’s largest oil consumer. On Tuesday, the US President said on social media that Venezuela was “going to supply” between…
Oil prices fell nearly 2% in Asian trading on Monday as nuclear talks between the United States and Iran eased concerns about supply disruptions and a temporary ceasefire between Russia and Ukraine further reduced oil risk premiums. Iran says its nuclear program is for peaceful purposes and is willing to negotiate some restrictions in exchange…
Monday’s trading is centred on oil and gas equities because the price of Brent crude oil is close to $60 per barrel, while the price of US WTI crude oil fell below $60 per barrel. It will have an impact on Indian businesses that refine crude oil and produce petroleum products. The US President’s reciprocal…
Crude oil prices rose 1.17% to ₹6,373 a barrel, fueled by expectations that China’s central bank will cut interest rates in 2025. Forecasts of cold weather in some places also increased demand for heating oil, pushing up prices in the short term. US oil inventories fell by 1.178 million barrels for the week ended December…
The Food Minister Pralhad Joshi stated on Thursday that the government is expected to approve raising the minimum sale price (MSP) for sugar as well as domestic ethanol pricing, as requested by the industry. In addition to the mills’ MSP for sugar, Joshi stated that the government is considering proposals to raise the price of…
