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Searched Tag: oil prices
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri. (File photo)

India's oil stocks adequate, even if Hormuz closes, assures Puri

June 23, 2025, 10:01 AM - 4 min read

The Indian government has assured citizens of stable fuel supplies as Iran threatens to close the Strait of Hormuz, a key oil route, amid rising tensions following US airstrikes.

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Goldman Sachs projects gold to hit $3150 by December 2025. Image for representative use only.

Goldman Sachs sees bullish gold and oil price predictions

November 27, 2024, 05:27 PM - 4 min read

Goldman Sachs has raised its outlook for both gold and oil prices, forecasting significant price increases by 2025. According to the global investment banking giant, gold prices could surge to $3,150 per ounce, marking a substantial 19% rise from current levels.

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Oil prices stay volatile, fuel price cuts unlikely before Maha polls

Oil volatility makes fuel cuts unlikely before Maha polls

September 19, 2024, 05:04 PM - 3 min read

Oil prices remain volatile, fluctuating between USD 70 and USD 75 per barrel. Despite a recent drop in crude prices, fuel rates in India remain frozen. State-owned retailers may adjust prices before Maharashtra elections, but uncertainty over future price trends continues.

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India gains as global oil prices decline to 8-month low

India gains as global oil prices decline to 8-month low

August 5, 2024, 04:31 PM - 2 min read

Apart from strengthening the external balance, a decline in oil prices also leads to lower prices of petrol, diesel and LPG in the domestic market, which in turn eases inflation in the country.

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India benefits as oil prices fall to eight-month low

India benefits as oil prices fall to eight-month low

August 5, 2024, 03:32 PM - 2 min read

India benefits from an eight-month low in oil prices at $75.8 a barrel, reducing its import bill and current account deficit. Strategic purchases of discounted Russian oil have saved India $7.9 billion in FY2022-23, strengthening the Rupee and easing inflation.

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Global oil price drop of over $4 a barrel spells benefits for India

India poised to benefit from falling oil prices

June 5, 2024, 12:57 PM - 2 min read

India is set to benefit from a recent drop in oil prices, which fell over $4 a barrel this week to a four-month low due to OPEC+ increasing production and higher US crude stockpiles.

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India saves $7.9 billion in oil import bill, lowers Current account deficit through Russian oil deals

India saves $7.9 billion in oil import bill, lowers Current account deficit through Russian oil deals

May 2, 2024, 01:58 PM - 2 min read

During April this year, India imported more Russian oil but less from Iraq and Saudi Arabia than it did a month earlier, according to data compiled by trade tracking agencies Kpler and LSEG.

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Oil and LNG (Liquefied Natural Gas) prices are likely to shoot

Oil, LNG prices to shoot up amid Iran-Iraq conflict

April 21, 2024, 01:44 PM - 2 min read

India, which is more than 85% dependent on overseas suppliers to meet its crude oil needs, imports oil from Saudi, Iraq and UAE as well as liquefied natural gas (LNG) from Qatar through the Strait of Hormuz.

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In early trade on Wednesday, benchmark equity indices Sensex and Nifty faced a downturn, influenced by weak global trends, escalated crude oil prices, and foreign fund outflows.

Equity markets decline amid global weakness and higher oil prices

April 3, 2024, 10:13 AM - 2 min read

Among the Sensex constituents, 22 stocks trended downwards, with Bharti Airtel, Nestle India, Sun Pharma, and IndusInd Bank being the prominent decliners. Conversely, Ultratech Cement, Tech Mahindra, Axis Bank, and Tata Steel managed to sustain positive momentum.

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