INDIA CRUDE
Crude prices to average at $83-88 in FY25, may increase govt fiscal burden: CRISIL Crisil reports average crude oil prices are expected to rise to $83-$88 per barrel in fiscal 2025 from $83 in the previous year. This increase may strain India’s fiscal budget, given its reliance on crude imports. The report also projects India's re...
12 Jul, 2024, 03.32 PM ISTIndia's vegetable oil imports up 18% in June to 15.5 lakh tonnes In June, India's vegetable oil imports rose 18% to 15.5 lakh tonnes, led by crude palm and sunflower oils. Edible oil imports hit 15.27 lakh tonnes, non-edible 23,178 tonnes. Year-to-date, total imports fell 2%, refined oils 2%, crude oils 3%. Palm ...
11 Jul, 2024, 06.47 PM ISTRupee dips against dollar amid OPEC forecast jitters, oil importers rush for greenback OPEC maintained its 2024 and 2025 global oil demand growth forecasts at 2.25 million barrels per day and 1.85 million barrels per day respectively, Reuters said. Crude oil prices softened to $84.45 per barrel versus $84.66 yesterday, according to Re...
10 Jul, 2024, 11.50 PM IST
Modi visit opens opportunities for India in Russian Arctic endowed with rare earth, crude At their meetings, Modi and Russian President Vladimir Putin discussed optimum use of the Northern Sea Route (NSR) via the Arctic and possible use of nuclear-powered icebreakers of Rosatom in that terrain, ET has learnt.
10 Jul, 2024, 06.36 PM ISTIndia-Russia to push long-term arrangement for crude supplies at annual summit New Delhi and Moscow aim to establish a long-term arrangement for crude oil supplies during PM Narendra Modi's visit on July 8-9. The discussions have been sparked by the increase in Russian oil exports. The focus is on ensuring a consistent supply ...
09 Jul, 2024, 10.12 AM ISTCrude oil prices at two-month highs. What is causing the surge? Crude oil prices rose 6% in June due to OPEC+ production cuts and US summer fuel demand. WTI, Brent, and MCX futures gained. Geopolitical risks, hurricanes, like Hurricane Beryl, influenced prices. Energy agencies predict slower oil demand growth an...
08 Jul, 2024, 10.37 AM ISTRupee rises 5 paise to 83.44 against US dollar in early trade The Indian rupee appreciated 5 paise against the US dollar, supported by a retreat in crude oil prices and foreign fund inflows. Analysts predict a broad trading range for the rupee amid positive economic indicators.
08 Jul, 2024, 09.53 AM ISTRupee falls 5 paise to 83.54 against US dollar in early trade The rupee depreciated 5 paise to 83.54 against the dollar due to high crude prices, starting at 83.52. Positive equities, foreign fund inflows supported. Amit Pabari noted pressures like crude at USD 87. S&P's YeeFarn Phua mentioned fiscal deficit r...
04 Jul, 2024, 10.09 AM ISTIndia's June palm oil imports rise to 6-month high on lower prices India's palm oil imports rose in June due to strong demand before festivals. Refiners played a key role, potentially impacting Malaysian palm oil futures. Sunvin Group highlighted palm oil's competitive pricing. The country's edible oil imports incr...
02 Jul, 2024, 05.06 PM ISTIndia raises windfall tax on petroleum crude The Indian government has increased the windfall tax on petroleum crude to Rs 6,000 per metric ton from Rs 3,250, effective July 2, as stated in a notification issued on Monday. This tax is reviewed every two weeks. In July 2022, India began taxing ...
01 Jul, 2024, 10.54 PM ISTRupee trades in narrow range against US dollar in early trade The rupee traded against the US dollar, influenced by positive domestic equities and the strength of the American currency. Forex traders noted the impact of the strong US dollar and elevated crude oil prices on the local unit.
25 Jun, 2024, 10.13 AM ISTRupee sees range-bound trade against US dollar in morning deals The rupee traded against the US dollar in early trade, influenced by the equity market and factors like the dollar's strength and crude oil prices.
24 Jun, 2024, 10.24 AM ISTIndia cuts windfall tax on petroleum crude India reduced the windfall tax on petroleum crude to 3,250 Indian rupees per metric ton from 5,200 rupees on June 15. The tax for diesel and aviation turbine fuel remained at zero. The tax is revised every fortnight and the recent adjustment was mad...
14 Jun, 2024, 11.02 PM ISTRefined Russian petro goods imports rise 14% in May India's import of refined products from Russia increased by 14% in May, with naphtha imports tripling. State-run refiners brought in 77% more Russian products, but imports were lower than China and Europe.
04 Jun, 2024, 07.31 AM ISTGovt cuts windfall tax on petroleum crude The Indian government has cut the windfall tax on petroleum crude to 5200 Indian rupees ($62.33) per metric ton from 5700 rupees, with effect from June 1, according to a notification issued on Friday.
01 Jun, 2024, 12.21 AM ISTRupee falls 9 paise to 83.27 against US dollar in early trade Rupee depreciates 9 paise to 83.27 against USD on negative equities and high oil prices, influenced by domestic market sentiment and USD strength. Rupee opened at 83.22, traded at 83.27. Dollar index at 104.72, Brent crude at USD 84.40. Sensex down ...
30 May, 2024, 10.53 AM ISTRupee falls 9 paise to 83.27 against US dollar in early trade The rupee declined to 83.27 against the US dollar on Wednesday, driven by negative equities trend and elevated crude oil prices, with interventions from RBI and anticipation of Lok Sabha election results.
29 May, 2024, 10.08 AM ISTReliance signs deal with Russia's Rosneft to purchase oil in roubles Reliance Industries has signed a one-year deal with Russia's Rosneft to purchase at least 3 million barrels of oil monthly in roubles. This agreement, following President Putin's push for alternative financial systems amid Western sanctions, secures...
28 May, 2024, 04.57 PM ISTRupee rises 3 paise to 83.10 against US dollar in early trade The rupee gained 3 paise against the US dollar, reaching 83.10, driven by positive domestic equities and USD weakness in global markets.
28 May, 2024, 09.52 AM ISTIndia's use of crude tankers to export diesel slows in May Indian refiners reduce diesel shipments to Europe in May due to rising inventories and weak price spreads. April saw high exports, mostly from Reliance Industries' Jamnagar refinery, using Aframax and Suezmax vessels. Cost factors and ample European...
23 May, 2024, 02.52 PM IST