Indian government official says there has been no increase in retail fuel prices even though there is pressure.
Oil Price, LPG Gas Crisis News Live: No increase in fuel prices, despite pressure, says official
Crude oil storage tanks are seen, Tuesday, March 17, 2026, in Baltimore. (AP Photo)Oil Price, LPG Gas Crisis News Live Updates: Benchmark Brent crude futures rose again from $100 to around $114 per barrel Thursday afternoon, after Israel struck the world’s largest natural gas field, South Pars, that Iran shares with Qatar across the Gulf. Meanwhile, crude palm oil prices are expected to remain above 4,450 ringgit ($1,130) per metric ton in the near term due to rising energy prices and uncertainty in the Middle East, the Malaysian Palm Oil Council said on Thursday. Iranian missile strikes also hit the Ras Laffan industrial city, Qatar’s primary gas hub, which reported “significant damage.”
The United Arab Emirates (UAE) Thursday shut gas facilities after intercepting missiles early, news agency Reuters reported. The closure comes in response to incidents at the Habshan gas facilities and at the Bab oil field that were caused by falling debris from intercepted missiles. The Habshan complex, operated by Abu Dhabi state oil giant ADNOC, is one of the world’s largest gas processing facilities, comprising 5 plants with a total capacity of 6.1 billion standard cubic feet per day (bscfd), Reuters noted.
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In India: Amid requests from some of India’s neighbours for additional fuel supplies amid the supply squeeze due to the West Asia conflict, the government has said that it will prioritise meeting domestic fuel demand first before deciding on any of these requests. According to Petroleum Ministry Joint Secretary Sujata Sharma, supply of crude oil and major fuels like petrol and diesel is currently adequate in India, and no shortage has been reported from any part of the country.
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Oil Price, LPG Gas Crisis News Live: The long-term fix for India’s LPG crisis
The war in West Asia has expanded beyond military targets to include oil and gas infrastructure, with attacks on South Pars, the world’s largest gas field, and Qatar’s Ras Laffan, a significant gas export facility. The growing frequency of these attacks is heightening energy market instability, and any prospects of securing gas supplies from the region remain bleak.
Over 90 per cent of India’s LPG imports are sourced from West Asian suppliers and routed through the Strait of Hormuz. While India’s efforts to source from alternative suppliers and increase domestic production are underway, demand remains unmet and requires prompt management. India’s reliance on imports for LPG has led to supply shortages for consumers, with households accounting for over 80 per cent of consumption. In response to the situation, the Union has directed oil marketing companies to prioritise household LPG consumption over commercial use. However, the deprioritisation of commercial use has increased informal market activity, further complicating the ongoing issue. Read more
Oil Price, LPG Gas Crisis News Live: Brent crude oil rises again, crosses $114 a barrel amid escalating war
Benchmark Brent crude futures rose again from $100 to around $114 per barrel on Thursday afternoon amid escalating tensions between US-Israel and Iran.
Oil Price, LPG Gas Crisis News Live: WTI crude rises to $97.58 per barrel amid renewed attacks on Middle East energy hubs
US West Texas Intermediate crude rose to $97.58 a barrel, as at 10:24 on Thursday.
Brent closed up 3.8% on Wednesday, while WTI settled nearly flat.
WTI has been trading at its widest discount to Brent in 11 years due to releases from U.S. strategic reserves and higher freight costs, while renewed attacks on Middle Eastern energy facilities boosted support for Brent. (Reuters)
Oil Price, LPG Gas Crisis News Live: India to prioritise domestic demand before deciding on fuel requests from neighbours
Amid requests from some of India’s neighbours for additional fuel supplies amid the supply squeeze due to the West Asia conflict, the government has said that it will prioritise meeting domestic fuel demand first before deciding on any of these requests.
According to Petroleum Ministry Joint Secretary Sujata Sharma, supply of crude oil and major fuels like petrol and diesel is currently adequate in India, and no shortage has been reported from any part of the country.
Apart from prioritising LPG supplies to households over commercial and industrial consumers, the government ordered refiners to maximise LPG production, and directed them to divert propane, butane, and other streams from petrochemical manufacturing to LPG production.
According to Sharma, these measures have led to an increase of 40% in domestic LPG production vis-à-vis pre-West Asia conflict levels, and a further increase is likely over the next few days. Read the full story here.
Oil Price, LPG Gas Crisis News Live: UAE shuts gas facilities after intercepting missiles
The United Arab Emirates (UAE) Thursday shut gas facilities after intercepting missiles early, news agency Reuters reported.
The closure comes in response to incidents at the Habshan gas facilities and at the Bab oil field that were caused by falling debris from intercepted missiles.
The gas facilities were shut down and no injuries were reported, the Abu Dhabi Media Office said.
The Habshan complex, operated by Abu Dhabi state oil giant ADNOC, is one of the world’s largest gas processing facilities, comprising 5 plants with a total capacity of 6.1 billion standard cubic feet per day (bscfd), Reuters noted. (Reuters)
Oil Price, LPG Gas Crisis News Live: Brent crude oil tops $112 a barrel amid escalating war
Benchmark Brent crude futures rose again from $100 to around $112 per barrel on Thursday morning, after Israel struck the world’s largest natural gas field, South Pars, that Iran shares with Qatar across the Gulf.
Iranian missile strikes also hit the Ras Laffan industrial city, Qatar’s primary gas hub, which reported “significant damage.”
Meanwhile, crude palm oil prices are expected to remain above 4,450 ringgit ($1,130) per metric ton in the near term due to rising energy prices and uncertainty in the Middle East, the Malaysian Palm Oil Council said on Thursday. (Reuters)
Oil, LPG Gas Cylinder Crisis News Live: India to prioritise domestic fuel needs amid regional supply requests
India will prioritise meeting domestic fuel demand before considering supply requests from neighbouring countries such as Bangladesh, Sri Lanka and the Maldives amid ongoing disruptions caused by the West Asia crisis.
Officials said exports will be considered only if surplus fuel is available after meeting internal demand, as supply constraints continue to impact LPG and gas availability.
(With inputs from PTI)
Oil, LPG Gas Cylinder Crisis News Live: Indian tanker 'Jag Laadki' arrives at Mundra with 80,000 MT crude
Indian-flagged tanker Jag Laadki, carrying over 80,000 metric tonnes of crude oil from the UAE, has arrived at Gujarat’s Mundra Port amid ongoing disruptions in West Asia.
The shipment highlights continued efforts to maintain India’s energy supplies despite tensions affecting key routes like the Strait of Hormuz.
(With inputs from PTI)
Oil, LPG Gas Cylinder Crisis News Live: Oil prices drop after Iraq resumes crude exports via Ceyhan port
Benchmark Brent crude futures dropped back to $100 per barrel on Wednesday, after crude exports from Iraq’s Kirkuk fields to Turkey’s Ceyhan port resumed via pipeline, news agency Reuters reported.
This comes a day after Baghdad and the Kurdistan Regional Government (KRG) agreed on Tuesday to restart flows, Reuters reported.
As of 12:03 pm, Brent crude traded at $100.59 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude dropped to $92.20 per barrel.
Oil, LPG Gas Cylinder Crisis News Live: Iraq resumes Kirkuk crude exports via Ceyhan after Baghdad-KRG deal, sources say
Crude exports from Iraq's Kirkuk fields to Turkey's Ceyhan port resumed on Wednesday via pipeline, North Oil Company sources said, after Baghdad and the Kurdistan Regional Government (KRG) agreed on Tuesday to restart flows, Reuters reported.
The KRG confirmed the agreement, saying in a statement the two sides would form a joint committee to prepare for resuming oil exports, with revenue to be returned to the federal treasury.
The two sides agreed to take the necessary security measures to protect oilfields and ensure the continuity of export operations, the KRG said.
(Reuters)
Oil, LPG Gas Cylinder Crisis News Live: Centre writes to states to help expedite piped natural gas network expansion
In a bid to rapidly expand piped natural gas (PNG) access and coverage amid the shortage of liquefied petroleum gas (LPG) due to the West Asia conflict, the Centre has written to states to expedite approvals to city gas distribution (CGD) firms for laying pipelines.
The requests include issuance of deemed permission for pending applications for laying CGD pipelines, approval of all new CGD permissions within 24 hours, full waiver on road restoration and permission charges levied by state and local authorities, relaxations in working hours and working season rules, and appointment of nodal officers for support, coordination and faster rollout.
With the effective halt in maritime traffic through the critical chokepoint of the Strait of Hormuz, India’s LPG supplies have been majorly hit.
Oil, LPG Gas Cylinder Crisis News Live: Oil prices ease after Iraq and Turkey sign deal to resume exports via Ceyhan port
Benchmark Brent crude futures dropped back to hover around $101 per barrel on Wednesday morning, after the Iraqi government and Kurdish authorities reached a deal to resume oil exports via Turkey’s Ceyhan port, Reuters reported.
West Texas Intermediate (WTI) crude dropped below $94 per barrel.
Iraq’s oil minister Hayan Abdel-Ghani announced that oil flows from Ceyhan are expected to start at 0700 GMT on Wednesday, according to state media. Iraq was seeking to pump at least 100,000 barrels per day of crude through the port, officials told Reuters earlier this week.
With the Iran conflict effectively shutting down the vital Strait of Hormuz through which some 20% of global oil passes, oil production from Iraq’s main southern oilfields, plunged 70% to just 1.3 million bpd, according to the report. (Reuters)
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