"oil-prices"

The Israel-Iran war raises fears Iran may block the Strait of Hormuz, a vital oil route. Such a move could spike global oil prices and disrupt supply, though analysts believe US military intervention would likely reopen the strait quickly

Oil prices surged after Israel attacked Iran’s South Pars gas field amid escalating tensions. While analysts expect temporary price hikes, any disruption to the Strait of Hormuz or broader conflict could lead to lasting price increases

Oil prices jumped over 9% after Israel attacked Iran’s nuclear sites, raising tensions. Iran may retaliate, risking wider conflict. Despite supply risks, markets are well-stocked. India’s inflation and economy remain stable for now, says Emkay Global

In early trade at the interbank foreign exchange, the rupee opened at 86.22 against the US dollar, marking a gain of 46 paise from its previous close. It later strengthened further to 86.17. On Wednesday, the local currency had settled at 86.68 against the greenback.

There can be no solution unless Israel and Palestine shed their extreme postures and work towards lasting peace

Forex traders noted that subdued sentiment in the domestic equity markets, along with significant foreign fund outflows over the past three days, hindered any recovery in the rupee. In the interbank foreign exchange market, the local currency opened at 83.96 against the US dollar but was unable to recover from the sharp decline experienced in the previous session.

Forex traders noted that the recent drop in oil prices, now around USD 77 per barrel, is a major boost for the rupee due to India's high oil import costs. In the interbank foreign exchange market, the rupee opened at 83.93, strengthened to 83.88, marking a 5 paise increase from its previous close.

Oil prices spiked last month following US-led strikes on Houthi targets in Yemen in response to repeated attacks on commercial ships in the Red Sea.

The Israel and Palestinian territories are not oil producers, but the Middle Eastern region accounts for almost a third of global supply.

According to Jateen Trivedi, VP Research Analyst at LKP Securities, the capital market experienced profit booking, particularly in the financial sector, which had an impact on the rupee's performance.

The rupee appreciated 7 paise to 79.84 against the US dollar in early trade on Tuesday in line with a positive trend in domestic equities.

Chennai: Global oil prices are expected to fall to almost $70 per barrel by the end of 2024, said Moody’s Analytics in a recent report on the Asia Pacific (APAC) region. Pointing out the increase in oil prices to $120/barrel in June after Russia’s invasion of Ukraine and its fall to $100/barrel in August Moody’s […]

Crude prices were also pressured by a ramp-up in new coronavirus cases in major consumer China and over concerns about near-term demand expressed by oil exporter group OPEC.

Benchmark U.S. crude rose USD 5.24 per barrel to USD 108.60 in electronic trading on the New York Mercantile Exchange.

According to Indian Oil Corporation Limited (IOCL), the largest supplier of ATF in the country, on Thursday reported price hiked by 3.6 per cent in the Delhi region.

Fuel rates are at record highs across the country and petrol has crossed Rs 100 a litre mark in about a dozen states and union territories.

Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre respectively in the capital.

The OMCs went on a price cut for the first time this year on Wednesday after keeping oil prices steady for the past 24 days.

The proposed price stabilisation fund could be triggered in times like what is prevailing now to check extreme volatility and provide relief to both consumers and oil companies.

“The rise in fuel and cooking gas prices is putting additional financial burden on the people, who are yet to come out of the problems of lockdown,” TPCC chief said