US OIL PURCHASE DEAL
Rupee 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 reduction need. NSE Nifty, Sensex surged; FIIs buying shares. Dollar index at 105.36, US yields at 4.35%.
Amazon Fourth of July Sales 2024: Steep discounts on hundreds of items: Kitchen equipment, luggage essentials, Apple tech and more
The retail giant has come out with Amazon's Fourth of July Sales 2024, which spans every category, including home and kitchen items, luggage essentials, Apple tech and more. Buyers can find all their favorite Fourth of July sales on Amazon. Amazon has offered discounts on hundreds of items ranging from cosmetic products and household equipment to electronic gadgets.
US Independence Day special food deals: What are some offers from Dunkin', Krispy Kreme, Baskin Robbins on July 4?
To make the federal holiday of US Independence Day even more exciting and relaxing, multiple restaurant chains and food outlets have introduced some special deals throughout the day, which visitors can enjoy at their leisure. Here is a list of some amazing deals for the 4th of July this year.
Rupee falls 9 paise to 83.43 against US dollar in early trade
The healthy expansion in infrastructure sectors' growth in May was driven by the production of coal, natural gas, and electricity, amidst rising crude oil prices impacting the rupee and positive equity market sentiment.
US targets petrol tankers over Iran nuclear 'escalation'
The United States announced sanctions on Thursday against shipping companies for transporting Iranian oil. The action was taken in response to Iran’s nuclear program actions, just before the presidential elections in Iran.
Demand for hybrid vehicles on the rise across the US; here are the best deals being offered
There is a growing demand for hybrid vehicles across the US. Many of the companies are offering discounts on these vehicles. The demand for EV vehicles is decreasing due to many challenges associated with it.
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No matter who wins Iran's presidential election, much may hinge on the 'Great Satan' US
In the waning moments of Iran's final televised presidential debate, one of the top candidates to replace the late hard-line President Ebrahim Raisi invoked the name of the one person who perhaps has done more than anyone to change the trajectory of the Islamic Republic's relationship with the wider world in recent years.
Rupee 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.
Rupee 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.
Indian rupee hits new lifetime low against US dollar. Are record block deals the culprit?
The Indian rupee fell to a lifetime low of 83.62 against the US dollar on Thursday. Record block deals worth Rs 23,000 crore on Wednesday, which included Vodafone Plc's stake sale in Indus Towers, is said to be among the triggers behind the INR slide. The local currency had closed at 83.4550 in the previous session.
Rupee rises 6 paise to 83.37 against US dollar in early trade
Rupee remains steady at 83.37 against the US dollar driven by various factors including foreign capital inflow, equity market performance, and positive economic indicators.
Asian shares mostly lower as China reports factory output slowed
Factory output fell 5.6% in China in May, the government reported, below analysts' forecasts and slowing from 6.7% the month before. Retail sales rose just 4.1% in the first five months of the year.
India eyes oil deals with nations including Russia, minister says
Indian Oil Minister Hardeep Singh Puri announced Bharat Petroleum Corp's plan to build a new refinery. The nation aims to sign more oil import deals with countries, including Russia, at discounted rates. Prime Minister Narendra Modi seeks to provide energy at affordable rates to cushion customers from volatile oil markets.
New govt not in favour to sell stake in OMCs, says Oil Minister Puri
India's oil minister, Hardeep Singh Puri, has announced plans to bring petrol, diesel, and natural gas under the Goods and Services Tax (GST) as part of the new cabinet. Puri emphasized that the government is not in favor of stake sales in state-run oil firms, following the scrapping of the Bharat Petroleum Corporation Ltd (BPCL) divestment process in 2022. The Indian firms are also in talks for a term oil deal with Russia.
Rupee opens flat against US dollar in early trade
The rupee is expected to swing within a range of 82.90 to 83.70, influenced by Foreign Institutional Investors, capital markets, and anticipated inflows like Reliance Infrastructure raising USD 350 million.
Oil prices extend rally on potential U.S. crude purchase for reserve
Oil prices rose on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, supported by expectations of rising fuel demand this summer. Market focus is on the Fed's policy meeting and upcoming reports from OPEC and the International Energy Agency. Analysts expect Brent to rise to $86 a barrel in the third quarter.
Oil slips on dollar's strength from US jobs data
Oil prices slipped on Monday due to a stronger dollar and delayed interest rate cuts following strong U.S. jobs data. Developments in Iraq, including progress in oil export talks with the Kurdistan region, impacted market sentiment.
OPEC+ says goodbye to its $100-a-barrel oil quest
The OPEC+ cartel appears to be shifting away from its pursuit of $100-a-barrel oil, announcing a deal to gradually increase production through 2025. This move could lower oil prices and ease global inflation, impacting market dynamics and Saudi Arabia's financial outlook as it seeks to balance grandiose spending plans with declining oil revenues.
Asia shares rally on hopes for more rate cuts this week
Asian share markets rose on Monday as investors anticipated rate cuts by the European Central Bank and possibly the Bank of Canada. Sticky inflation may prolong the easing process.
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise
Oil prices fell on Friday due to concerns over inflation risks, U.S. crude inventories, and OPEC+ negotiations to extend oil production cuts.
US explorer ConocoPhillips to buy Marathon Oil in $17 billion deal
The move expands ConocoPhillips' footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come.
Reliance 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 discounted oil for Reliance and underscores India's role as a major buyer of Russian crude.
Oil prices stable as markets believe major stakeholders don't want hostilities to escalate: Hardeep Singh Puri
Global oil prices holding at $82/barrel despite OPEC supply cuts, wars, and uncertainties. Oil minister Hardeep Singh Puri believes major stakeholders don't want hostilities to escalate, maintaining supply-demand equilibrium. OPEC and allies control market by keeping 7 million barrels/day off the market.
India has a rare request for Reliance & state refiners on Russia oil deal
India has urged state-run oil refiners and Reliance Industries Ltd. to negotiate a long-term supply deal with Russia to shield the economy from volatile prices. While the government wants collaboration, Reliance's reluctance to share sensitive information poses a challenge. India seeks discounted oil amid tighter US sanctions.
Oil prices climb amid uncertainty over Iran president's fate
Brent rose 26 cents, or 0.3% to $84.24 a barrel by 0049 GMT. U.S. West Texas Intermediate crude (WTI) gained 15 cents, or 0.2% to $80.21 a barrel.
How might a US-Saudi civil nuclear deal work?
White House National Security Adviser Jake Sullivan to visit Saudi Arabia to discuss a civil nuclear cooperation agreement, key for U.S.-Saudi relations and Israeli-Saudi reconciliation under Section 123 of the U.S. Atomic Energy Act of 1954.
Share of Russian crude in India's imports rises to nearly 40% in April
In April, Russia's share in Indian crude oil imports rose to nearly 40%, up from 30% in March, driven by higher global oil prices. Indian refiners imported 1.78 million barrels per day (mb/d) of crude oil from Russia, surpassing imports from China and Europe. Russia supplied more oil to India than its next three top suppliers combined. Overall, Indian crude imports dropped 8% in April, with declines from Iraq, Saudi Arabia, the UAE, and the US.
Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say
Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start transporting oil in May. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada's Pacific Coast and open up access to Asia and the U.S. West Coast.
US hasn't asked India to cut Russian oil imports: Official
The US has not asked India to cut Russian oil imports, stating that oil refined in India isn't technically Russian. US officials emphasized limiting Putin's profit by curbing Russia's oil sales avenues. They noted that refined Russian oil sold to Western nations does not violate sanctions. India has informed the US of its intent to continue buying Russian oil for its energy needs and to stabilize global oil prices. Sanctions aim to restrict Russia's oil sales and incentivize deeper discounts for buyers avoiding Western services.
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