Page 11 - Crude Oil Price

Govt hikes windfall tax on petroleum crude to Rs 4,900 per tonne

The new rates will be affective from Saturday, according to a government notification released on Friday

Despite shrinking discounts, Russian crude flow to India may continue

Russia's share of Indian crude imports rose to 32 percent in February after recent dips

Nation first policy helped manage oil prices despite global conflicts: Puri

The Union Minister for Petroleum and Natural Gas said 85 per cent of India's crude requirements are met by imports, with the price of crude in the international market being the benchmark

Gold at new high, set for best week in 5 months; crude oil steadies

Oil prices steadied on Friday as investors digested fresh US employment data, in the quest for clues as to whether interest rate cuts may occur in the US and Europe in the first half of this year

Benchmarks end flat, Smallcaps decline; energy, metal, IT stocks slip

Stock market live updates on March 4, 2024: JSW Steel, Tata Steel led losses among largecaps after CLSA downgraded the two stocks to 'sell', reducing their target prices

PM Narendra Modi flags off first crude oil tanker from ONGC's KG project

At its peak, the deepwater project is set to produce 7 per cent of India's oil and gas

Govt hikes windfall tax on petroleum crude to Rs 4,600 a tonne from March 1

On Feb. 16, the government raised the windfall tax on petroleum crude to 3,300 rupees a metric ton from 3,200 rupees and hiked the tax on diesel to 1.5 rupees a litre from zero

Crude oil falls 1% as Fed caution, stocks build offset Opec+ expectations

Brent crude futures fell 90 cents, or 1.08%, to $82.75 a barrel by 0902 GMT. U.S. West Texas Intermediate futures (WTI) were down 92 cents, or 1.17%, at $77.95

Sensex drops 533 pts in broad selling; IT, metals worst hit; VIX jumps 4%

Stock market highlights on Monday, February 26, 2024: The Nifty50 shut shop at 22,122, down 91 points or 0.41 per cent. The mid, small-cap indices fell up tp 0.3 per cent.

Crude imports hit 21-month high in Jan on strong industrial activity

India's fuel consumption rose 8.2% year-on-year last month, government data showed earlier this month

Rupee rises 7 paise to close at 83 against dollar on easing crude prices

The rupee appreciated 7 paise to close at 83 (provisional) against the US dollar on Monday, on softness in the American currency and easing crude oil prices. However, weak domestic markets and foreign fund outflows capped sharp gains, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.01 against the greenback. The unit hit an intra-day high of 82.98 and a low of 83.02. The local unit finally settled at 83 (provisional) against the dollar, higher by 7 paise from its previous close of 83.07. "We expect the rupee to trade with a slight positive bias, positive global equities and a slight correction in the greenback. "However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on the rupee at higher levels," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Traders may take cues from India's CPI and IIP data. "Headline inflation is expect

Oil prices up 2% on Gaza ceasefire rejection, US fuel stocks data

The Brent benchmark breached $80 a barrel for the first time since Feb. 1 as it extended into a fourth straight session of gains

Crude oil price dip benefit not passed on to consumers, alleges Congress

The Congress on Wednesday attacked the government over fuel prices, alleging that crude oil has become cheaper in the last two years but "looting from the public continues". Congress general secretary Jairam Ramesh shared a media report on X in which he claimed that crude oil prices have gone down by 38 per cent but its benefits were not passed on to consumers. In a post in Hindi on X, Ramesh said, "Recently the Prime Minister was sermonising in Parliament on inflation and other topics. But look at this feat of his government. Crude oil has become cheaper by 38 per cent in 2 years but looting from the public continues." This once again proves what Rahul Gandhi has stated that money is being "looted" from the public and put into the pockets of "crony capitalist friends", Ramesh said. "This is clearly an injustice to the people of the country. We are raising our voice against the "anyay kaal' of the last 10 years through the Bharat Jodo Nyay Yatra," he said. The Congress has been al

Amid volatile oil prices, rupee turns flat at 83.03 against US dollar

The rupee stayed flat at 83.03 against the US dollar in early trade on Tuesday amid volatile crude oil prices in the overseas market. The Indian currency, however, found support from positive sentiment in the domestic equity markets and sustained inflow of foreign funds, forex traders said. They also said investors are expected to move cautiously ahead of the Reserve Bank's monetary policy committee (MPC) meeting. The six-member rate-setting panel of the central bank will begin the deliberation on Tuesday and announce the outcome on Thursday. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and slipped to 83.04 before retaining the previous day's closing level of 83.03 against the greenback. The rupee settled 5 paise lower at 83.03 against the dollar on Monday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.04 per cent at 104.28. Analysts attributed the higher

Kansai Nerolac Paints Q3 results: Net profit rises 39.6% to Rs 152 cr

Kansai Nerolac Paints Ltd on Monday reported a 39.57 per cent increase in consolidated net profit to Rs 152.09 crore for the December quarter, helped by improvement in margins. The company had posted a net profit of Rs 108.97 crore in the October-December period a year ago, Kansai Nerolac said in a regulatory filing. Its revenue from operations was up 5 per cent to Rs 1,918.71 crore in the third quarter of the ongoing fiscal from Rs 1,826.81 crore in the year-ago period. Total expenses of Kansai Nerolac Paints were up 2.72 per cent to Rs 1,730.61 crore in the December quarter. Commenting on the results, Managing Director Anuj Jain said, "The quarter saw good demand for industrial coatings. Decorative demand was also good as it registered double-digit volume growth, driven by the festive season." Raw material prices were stable despite volatility in crude. "Gross margins improved over the corresponding quarter last year. The company continues to see traction as regards to initiati

Russia's energy elite, Indian govt officials try to keep oil flowing

Oil imports from Russia, negligible before Moscow's invasion of Ukraine, climbed steadily through 2022 and the first half of last year as India saw an opportunity to procure discounted barrels

Iran evaded sanctions, moved money using Santander, Lloyd accounts: Report

The banks provided accounts to front companies secretly owned by a sanctioned Iranian petrochemicals company

India increases windfall tax on petroleum crude to Rs 3,200 per tonne

India raised its windfall tax on petroleum crude to 3,200 rupees/ton from 1,700 rupees from Saturday while keeping the windfall tax on diesel and aviation turbine fuel at zero

Oil prices fall as US jobs data dents hope for near-term rate cuts

High interest rates, which tend to dampen economic growth and oil demand, in major economies like the United States and the euro zone appear to be here to stay in the near term

State refiners may face margin pressure as cheap Russian oil imports dip

Reduction in discounted Russian supplies will affect gross refining margins, as cheaper crude contributes to the profits of Indian Oil, Bharat Petroleum and Hindustan Petroleum