CRUDE SHOCK
Traders are bracing for a record-smashing summer that will shake up commodities Prices for some of the world’s most vital commodities — natural gas, power and staple crops like wheat and soy — are climbing.
31 May, 2024, 10.17 AM ISTRising price of staples fueled India's inflation the most in FY24, says RBI report The surge in food and beverage prices has emerged as a key factor driving India's inflation in the fiscal year 2024, according to the Reserve Bank of India's (RBI) annual report. The report reveals that the contribution of the food and beverages cat...
30 May, 2024, 12.34 PM ISTOil tests central banker nerves with Iran-Israel hostilities on ‘knife edge’ The strikes reported around targets in Isfahan prompted a jump of more than 4% in crude to above $90 a barrel, before erasing that gain to trade lower on the day as Iranian media seemed to downplay the incident. While central bankers won’t have lost...
19 Apr, 2024, 06.48 PM IST- ADVERTISEMENT
What impact will escalated tensions in Western Asia have on oil prices? Vandana Hari answers So, all that we can expect in the coming hours is a lot of volatility. Well, the new fear premium that has crept into crude will more or less remain intact but expect even heightened volatility.
19 Apr, 2024, 11.19 AM ISTIndia's crude oil import bill drops 16% but import dependency hits new high India's crude oil imports declined by 16% in the fiscal year ending March 31 due to lower global rates, but import dependency hit a new high at 87.7%. Despite stable domestic production at 29.4 million tonnes, India spent USD 132.4 billion on crude ...
17 Apr, 2024, 05.07 PM ISTOil breathes easy on troop withdrawal move Oil has rallied recently on escalating tensions in the Middle East and supply shocks, raising the prospect of the global benchmark reaching triple figures.
09 Apr, 2024, 12.18 AM ISTOil at $100? Will oil prices hit a century this summer as a global shortage takes hold? Oil prices surged above $90 a barrel due to military tensions between Israel and Iran, compounded by global supply shocks. Mexico cutting crude exports and other disruptions are intensifying fears of inflation. This supply crunch is turbocharging an...
08 Apr, 2024, 10.28 AM ISTIf crude goes above $90, should equity markets begin to feel the heat? Anand Tandon answers Anand Tandon says we should be monitoring oil prices for potential energy cost increases and warns of pressure on equity markets. He further suggests smoother housing cycle uptake through housing finance and advises caution on Zomato's premium valua...
05 Apr, 2024, 09.20 AM ISTOil jumps 4% at $80.57/bbl as tankers avoid Red Sea after strikes Oil prices leaped 4% on Friday, as oil tankers diverted course from the Red Sea following overnight air and sea strikes by the United States and Britain on Houthi targets in Yemen after attacks on shipping by the Iran-backed group.
12 Jan, 2024, 05.39 PM ISTFirst rupee payment for oil to UAE: India looks for more deals, no targets: Officials India's first payment in rupees for oil bought from the UAE marked a step toward making the local currency more global. Officials noted this push but clarified that there are no specific goals. With over 85% oil dependency, India aims to buy afforda...
25 Dec, 2023, 03.22 PM ISTNo impact of Israel conflict on Indian economy via oil prices; taking steps to minimise effect of global shocks: Finmin In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary also said the government has been successfully adopting measures to mitigate global shocks on the domestic economy over the past three-four years.
12 Dec, 2023, 08.29 PM ISTOPEC+ suppliers struggle to agree on cuts to oil production even as prices tumble The OPEC oil cartel, joined by Russia, aims to negotiate crude oil production cuts amid recent price declines. While U.S. drivers benefit from lower fuel costs, OPEC+ nations face economic strain as efforts to stabilise prices falter. Analysts fores...
30 Nov, 2023, 12.10 PM IST'Recurring and overlapping food price shocks continue to keep headline inflation vulnerable' Governor of the Reserve Bank of India (RBI), Shaktikanta Das, has said that periodic shocks to food prices continue to make headline inflation in India susceptible. The Monetary Policy Committee (MPC) maintained its 5.4% inflation estimate for this ...
09 Nov, 2023, 12.49 PM ISTCommodity Talk: Sugar rates at 12-year highs on supply shortages, high crude prices: Harjeet Singh Arora of Mastertrust Sugar Prices surged ahead of the festive season and wedding season. The government took various measures such as imposing restrictions on the sugar export in order to control rising sugar prices. During the festive season, the government is not expe...
31 Oct, 2023, 01.45 PM ISTRBI's hawkish stance, rise in crude prices could delay monetary easing Professional forecasters, essentially economists surveyed by the Reserve Bank in September 2023 expect headline CPI inflation to moderate from 6.6 per cent in September quarter to 5.5.
10 Oct, 2023, 12.14 AM ISTTraders don't expect a big crude shock just yet Crude traders don't expect a massive price surge as there's no immediate threat to supply. But all eyes are on Iran, a major oil producer and key backer of the Hamas group that launched this weekend's offensive on Israel.
09 Oct, 2023, 05.46 AM ISTUS rates, Dollar & Crude: How a rare trinity could pose a significant macro challenge to India In combination, the three macro-indicators could support already high inflation across many countries by making goods and fuel imports costlier, and disrupt capital flows across the globe, imposing more hardship on debt and current account-stressed ...
03 Oct, 2023, 06.46 AM ISTView: China may get caught in an oil-price crossfire The battle between authoritarian states and democracies in the new Cold War is centered around petroleum as a weapon. However, higher oil prices caused by output cuts by Russia and Saudi Arabia may backfire on them. China, the largest source of addi...
15 Sep, 2023, 04.00 PM IST‘Vasudhaiva Kutumbakam’ in stock markets: Let’s explore market interconnectedness In this highly interconnected environment, local financial shocks and events can be easily amplified and turned into global events.
15 Sep, 2023, 11.05 AM ISTFinmin report says Russia-Ukraine crisis poses inflation risk in FY23 The government is exploring all viable options, including import diversification, to procure crude at an affordable price, the finance ministry's Department of Economic Affairs said in its monthly report for March.
08 Apr, 2022, 05.02 AM IST