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OIL PRICE NEWS
Nervous but exciting times for the Indian economy, says Finance Ministry
June 27, 2025 8:14 pm
In its monthly economic review report for May, the Ministry of Finance said on Friday that India’s growth and fiscal outlook for the current fiscal would have been “threatened” had higher crude oil prices persisted due to the Israel-Iran war.
Oil price slips after Iran targets US base in Qatar instead of blocking Strait of Hormuz: Here’s why
June 24, 2025 2:13 pm
Iran remains structurally reliant on the Strait of Hormuz. While it has an oil export terminal located outside the Persian Gulf, its effective capacity is only a fraction of Iran’s oil export volumes that cannot bypass the strait.
Crude oil prices advance as Gaza tensions rise, Saudi Arabia hikes prices
May 06, 2024 12:50 pm
Brent crude futures gained 51 cents, or 0.6 per cent, to $83.47 a barrel while US West Texas Intermediate crude futures were at $78.64 a barrel, up 53 cents, or 0.7 per cent.
Oil prices hover below $90/barrel as demand concerns outweigh Middle East supply fears
April 17, 2024 10:05 am
Brent futures for June slipped 56 cents, or 0.62%, to $89.46 a barrel by 0337 GMT, while U.S. crude futures for May fell 63 cents, or 0.74%, to $84.73 a barrel.
Oil prices rise marginally on China growth, Middle East tensions
April 16, 2024 1:02 pm
Earlier in the day oil prices had risen nearly 1% following the release of official data from China showing gross domestic product in the world's biggest oil importer grew 5.3% in the first quarter, year-on-year, comfortably beating analysts' expectations.
Oil rises as Middle East worries offset US crude stock buildup
April 10, 2024 12:53 pm
Brent crude futures were up 25 cents at $89.67 per barrel at 0650 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 24 cents to $85.47.
Oil prices hold gains on upbeat China trade data
March 07, 2024 11:15 am
The world's top crude importer posted a 5.1 per cent rise in imports in the first two months of 2024 from a year earlier to about 10.74 million barrels per day (bpd), customs data showed on Thursday.
Oil dips on investor caution as market eyes Middle East turmoil
October 10, 2023 12:33 pm
Oil prices eased on Tuesday after rallying more than 4% in the previous session, with traders cautious as they watched for potential supply disruptions amid military clashes between Israel and the Palestinian Islamist group Hamas.
Farmers sow more sesame seeds, groundnut as oil prices continue to soar
May 02, 2022 8:09 am
Farmers have sown sesame in 1.07 lakh hectares (lh) so far, around 85 per cent increase over the last year’s average sowing area of 58,291 ha, the latest data from the state agriculture department shows.
Saudi Arabia says it's not responsible for high oil prices
March 22, 2022 9:15 am
The state-run Saudi Press Agency quoted the Saudi Foreign Ministry as saying that the kingdom ``declares that it will not bear any responsibility for any shortage in oil supplies to global markets in light of the attacks on its oil facilities.''
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