News

Oil prices ease, but caution prevails over Russia-Ukraine war Oil prices retreated on Tuesday after the previous day's rally driven by halted production at Norway's Johan Sverdrup oilfield, but investors remained cautious amid fears of a potential escalation in the Russia-Ukraine war. Brent crude futures for January delivery slipped 7 cents, or 0.1%, to $73.37 a barrel by 0119 GMT, while U.S. West Texas Intermediate crude futures for December delivery were at $69.23 a barrel, down 7 cents, or 0.1%. The more active WTI January contract fell 4 ...
Oil prices ease, but caution prevails over Russia-Ukraine war
Oil prices ease, but caution prevails over Russia-Ukraine war
Source: Reuters
2024-11-19 09:15:19 am
Oil nudges up after Russia-Ukraine tensions escalate Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets. Brent crude futures gained 29 cents, or 0.4%, to $71.33 a barrel by 0502 GMT, while U.S. West Texas Intermediate crude futures were at $67.20 a barrel, up 18 cents, or 0.3%. Russia unleashed its largest air strike on Ukraine in almost three mon...
Oil nudges up after Russia-Ukraine tensions escalate
Oil nudges up after Russia-Ukraine tensions escalate
Source: Reuters
2024-11-18 09:19:36 am
Russia`s energy giant to stop gas deliveries to Austria Austrian energy company OMV said that Russia's energy giant Gazprom will suspend gas deliveries to Austria starting Saturday.  The move came after OMV announced on Wednesday that an arbitration ruling by the International Chamber of Commerce awarded it 230 million euros ($242 million) in a dispute with Gazprom over the latter's irregular gas deliveries. OMV said in a statement that the award would be offset "with immediate effect" against its payment obligations t...
Russia`s energy giant to stop gas deliveries to Austria
Russia`s energy giant to stop gas deliveries to Austria
Source: IANS
2024-11-16 03:20:51 pm
Five-fold increase in India-Russia bilateral trade: Russian Deputy PM Russia's First Deputy Prime Minister Denis Manturov on Tuesday confirmed Moscow's intentions to conclude a Free Trade Agreement (FTA) between the Eurasian Economic Union and India -- as well as a bilateral agreement on services and investments -- while spotlighting that the volume of mutual trade between the two countries has grown more than fivefold over the past five years, including by nine per cent in the first eight months of the current year. As he co-chaired the 25th meeting...
Five-fold increase in India-Russia bilateral trade: Russian Deputy PM
Five-fold increase in India-Russia bilateral trade: Russian Deputy PM
Source: IANS
2024-11-13 10:54:50 am
Iran, Russia link national payment systems  Iran and Russia linked their national payment systems on Monday, a significant move to bypass the US dollar in bilateral transactions, local media reported.  The linkage between Russia's Mir and Iran's Shetab payment systems was established in a ceremony attended by Governor of the Central Bank of Iran (CBI) Mohammad-Reza Farzin and Iranian Ambassador to Moscow Kazem Jalali, reports Xinhua, quoting Iran's official news agency IRNA. The ceremony unveiled the first ...
Iran, Russia link national payment systems
Iran, Russia link national payment systems
Source: IANS
2024-11-12 05:20:49 pm
Urgent measures needed to address issue of widening trade deficit between India, Russia: S Jaishankar External Affairs Minister S Jaishankar has called for urgent measures to address the issue of widening trade deficit between India and Russia. He said while India's exports to Russia stood at only $2.24 billion in April-August this fiscal, imports soared to $27.35 billion during the period. The trade deficit is aggregated at $25.11 billion. The high trade deficit is mainly on account crude imports. The minister said Russia emerged as India's biggest supplier of crude oil, which is ...
Urgent measures needed to address issue of widening trade deficit between India, Russia: S Jaishankar
Urgent measures needed to address issue of widening trade deficit between India, Russia: S Jaishankar
Source: Accord Fintech
2024-11-12 02:27:09 pm
Russian Deputy PM hails growing business ties with India amid `external economic pressure` Highlighting that Russia-India business relations continue to strengthen amid the "external economic pressure", Russian First Deputy Prime Minister Denis Manturov on Monday outlined development of the transport industry and increasing the potential of the nuclear sector among the priority technological areas of future cooperation between Moscow and New Delhi.   Manturov and External Affairs Minister (EAM) S. Jaishankar met with representatives of Russian and Indian busine...
Russian Deputy PM hails growing business ties with India amid `external economic pressure`
Russian Deputy PM hails growing business ties with India amid `external economic pressure`
Source: IANS
2024-11-12 10:02:47 am
India says oil prices would have rocketed without its Russian imports Global oil prices "would have hit the roof" if big importer India had not bought oil from Russia following the Ukraine war, India's oil minister said, adding that prices would determine where the country buys oil from. India, the world's third largest oil importer and consumer, has become the top buyer of discounted Russian sea-borne oil shunned by Western countries since Ukraine's invasion began in early 2022. Before that, India bought little oil from its long-runnin...
India says oil prices would have rocketed without its Russian imports
India says oil prices would have rocketed without its Russian imports
Source: Reuters
2024-11-09 10:52:47 am
India considers imports of Mongolian coking coal via Russia, source says  India is exploring ways to import regular supplies of Mongolian coking coal by way of Russia, a senior government official with direct knowledge of the matter said, as New Delhi seeks to avoid over-reliance on transit through China. Mills in India, the world's second-biggest producer of crude steel, grappled with volatile Australian supplies of coking coal last year, and the government sent delegations to Mongolia in an effort to diversify sources of the fuel. Despite a longer...
India considers imports of Mongolian coking coal via Russia, source says
India considers imports of Mongolian coking coal via Russia, source says
Source: Reuters
2024-10-21 04:58:45 pm
OPEC Cuts 2024 Oil Demand Forecast, Russia Output Declines by Amit Gupta, Kedia Advisory OPEC revised its global oil demand growth forecast for 2024 to 1.93 million barrels per day (bpd), down from the 2.03 million bpd predicted earlier, citing economic concerns and a shift towards cleaner fuels. China’s demand forecast was lowered due to slowing economic activity and LNG substitution. Meanwhile, Russia reduced its oil production to 9 million bpd in September, slightly above the OPEC+ quota. OPEC acknowledged that Russia, Iraq, and Kazakhstan exceeded their quotas but promi...
OPEC Cuts 2024 Oil Demand Forecast, Russia Output Declines by Amit Gupta, Kedia Advisory
OPEC Cuts 2024 Oil Demand Forecast, Russia Output Declines by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-10-15 09:21:45 am
Russia seeks to boost coal exports to India Russia is interested in increasing coal exports to India to tap into growing demand for the fuel in the Asian country, Russian Deputy Prime Minister Alexander Novak said. China remains the biggest buyer of Russian coal but Moscow has said India may overtake it by the start of the next decade as Beijing plans cutbacks on coal usage for power generation. India has increasingly relied on coal to address record power demand, with the rise in coal-fired power output earlier this year outpaci...
Russia seeks to boost coal exports to India
Russia seeks to boost coal exports to India
Source: Reuters
2024-10-07 02:09:10 pm
Russia Surpasses Canada as India's Leading Yellow Peas Supplier by Amit Gupta, Kedia Advisory Russia has overtaken Canada as the leading supplier of yellow peas to India, shipping 4.41 lakh tonnes (lt) during the April-July 2024 period, surpassing its total exports for the entire 2023-24 fiscal. In contrast, Canada shipped 3.93 lt to India during the same period. Russia's competitive pricing, offering yellow peas at $425 per tonne for October-November delivery compared to Canada's $460, and the ability to trade in Indian rupees, have contributed to its growing market share. In...
Russia Surpasses Canada as India's Leading Yellow Peas Supplier by Amit Gupta, Kedia Advisory
Russia Surpasses Canada as India's Leading Yellow Peas Supplier by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-10-01 02:45:30 pm
OPEC receives compensation plans for overproduction from Iraq, Kazakhstan, Russia The Organisation of the Petroleum Exporting Countries (OPEC) Secretariat said that it received compensation plans from Iraq, Kazakhstan, and Russia for their overproduced oil volumes in the first half of 2024.  OPEC said in a statement that the combined overproduction from the three countries totalled 2.28 million barrels per day (bpd) during the period. Iraq overproduced 1.18 million bpd, Kazakhstan 620,000 bpd, and Russia 480,000 bpd, Xinhua news agency reported. Iraq and Kazakhs...
OPEC receives compensation plans for overproduction from Iraq, Kazakhstan, Russia
OPEC receives compensation plans for overproduction from Iraq, Kazakhstan, Russia
Source: IANS
2024-07-25 03:49:37 pm
Indian state refiners in talks for long-term oil import deal with Russia, government source says India's state-run refiners are jointly negotiating a long-term oil import deal with Russia, a government source aware of the development said on Thursday. India and Russia have yet to finalise terms, such as the payment currency, for the imports, the source said, declining to be named because of the sensitivity of the matter. "Joint negotiations of state refiners with Russia are already happening," the source said. Indian private refiners Nayara Energy an...
Indian state refiners in talks for long-term oil import deal with Russia, government source says
Indian state refiners in talks for long-term oil import deal with Russia, government source says
Source: Reuters
2024-07-11 02:03:17 pm
India, Russia set $100 billion trade target by 2030, to move forward on FTA: Foreign Secretary India and Russia have set a new target of $100 billion in trade between the two nations by 2030, Foreign Secretary Vinay Kwatra said on Tuesday, as Prime Minister Narendra Modi and Russian President Vladimir Putin discussed larger space of economic engagement, covering trade, capital linkages, energy, science and technology cooperation, and defence and security.  Trade between India and Russia stood at $65.7 billion in the financial year ending March 2024, a 33 per cent rise over the ...
India, Russia set $100 billion trade target by 2030, to move forward on FTA: Foreign Secretary
India, Russia set $100 billion trade target by 2030, to move forward on FTA: Foreign Secretary
Source: IANS
2024-07-10 09:44:42 am
Russia extends gasoline export permit Russia extended the permit for the export of gasoline until July 31, according to a government document.  A sufficient volume of fuel reserves has been formed in the domestic market, and the demand is fully met by supply, Russian Energy Minister Sergei Tsivilyov was quoted by RIA Novosti, reported Xinhua news agency. Russia initially introduced a ban on the export of gasoline for six months on March 1, to offset the growth in domestic demand in spring and summer. Two months late...
Russia extends gasoline export permit
Russia extends gasoline export permit
Source: IANS
2024-06-30 05:12:59 pm
India to benefit as global oil prices decline by over $4 a barrel India stands to gain as oil prices have fallen by over 4$ a barrel this week to a four-month low in the international market following the OPEC+ cartel’s plan to allow an increase in production this year while an increase in the US crude stockpiles has added to bearish sentiments.  The benchmark Brent oil futures for August edged lower to $77.50, on Wednesday, while July crude oil futures on WTI (West Texas Intermediate) were at $73.22. Oil prices have now fallen below $80 a ...
India to benefit as global oil prices decline by over $4 a barrel
India to benefit as global oil prices decline by over $4 a barrel
Source: IANS
2024-06-05 12:26:04 pm
India receives oil cargo in Russian SCF tanker after brief halt, sources say A ship controlled by U.S.-sanctioned Russian shipping giant Sovcomflot (SCF) discharged fuel oil at a western Indian port on Friday, two sources familiar with the matter said, indicating a resumption in the use of SCF vessels to supply Moscow's key market after a brief halt. The SCF Baltica, carrying 90,000 metric tons of fuel oil for Reliance Industries, operator of the world's biggest refining complex at Jamnagar in Gujarat state, was expected to leave the port later on Friday af...
India receives oil cargo in Russian SCF tanker after brief halt, sources say
India receives oil cargo in Russian SCF tanker after brief halt, sources say
Source: Reuters
2024-04-26 05:01:19 pm
Russia to start construction of world`s largest fast reactor in 2026, connect it to grid in 2032 Russia’s state atomic energy corporation Rosatom is planning to set up a series of 1,200 MW (BN-1200) fast breeding reactors and the first one is expected to be connected to the grid in 2032, senior officials said. Once the BN-1200 reactors start functioning without an itch, Russia will offer the technology to other countries, they added. According to them, Rosatom is hopeful of getting the BN-1200 design approval from the regulators next year and start construction in 2026 as par...
Russia to start construction of world`s largest fast reactor in 2026, connect it to grid in 2032
Russia to start construction of world`s largest fast reactor in 2026, connect it to grid in 2032
Source: IANS
2024-04-21 09:59:46 am
India`s top refiner set to tap spot oil as Russian term deal lapses Rosneft and Indian Oil Corp have yet to renew an oil supply deal that expired in March as they have been unable to agree on price and volumes, forcing India's top refiner to turn to spot markets, three sources with knowledge of the matter said on Monday. IOC and Rosneft renewed the annual oil deal for a second time a year ago. It was originally signed during Russian President Vladimir Putin's visit to India in December 2021, months ahead of Moscow's military action in Ukraine. ...
India`s top refiner set to tap spot oil as Russian term deal lapses
India`s top refiner set to tap spot oil as Russian term deal lapses
Source: Reuters
2024-04-02 11:33:13 am
India`s Voltech Group seeks to expand in nuclear sector The Rs 1,000 crore Voltech Group, which is majorly into testing, commissioning, and maintenance of electrical systems in power and other plants, is looking to expand into the nuclear field in a major way, a top group official said on Monday. "We have been doing the testing and commissioning of the balance of plant (BoP) in power generation companies including nuclear power plants in India. We were and are involved in the nuclear power plants that have come up and are coming up in Kuda...
India`s Voltech Group seeks to expand in nuclear sector
India`s Voltech Group seeks to expand in nuclear sector
Source: IANS
2024-03-26 09:32:55 am
Oil prices rise as heightened geopolitical risk exacerbates supply concern Oil prices rose in early Asian trading on Monday on concern over tighter global supply brought about by escalating conflict in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure. Brent crude futures had climbed 24 cents, or 0.3%, to $85.67 a barrel at 0029 GMT. U.S. crude futures gained 25 cents, or 0.3%, to $80.88 per barrel. Both benchmarks logged less a than 1% change last week versus the previous week. "Escalating geo...
Oil prices rise as heightened geopolitical risk exacerbates supply concern
Oil prices rise as heightened geopolitical risk exacerbates supply concern
Source: Reuters
2024-03-25 08:44:24 am
Russia to ban gasoline exports for six months from March 1 Russia will introduce a six-month ban on gasoline exports, beginning March 1, a spokesperson for Russian Deputy Prime Minister Alexander Novak said on Tuesday. Talking to reporters, the spokesperson said the move aims to offset the growth in demand in spring and summer and another possible measure is to increase the diesel sales rate on the stock exchange to 16 per cent, Xinhua news agency reported. The restriction will not apply to the countries in the Eurasian Economic Union, the repo...
Russia to ban gasoline exports for six months from March 1
Russia to ban gasoline exports for six months from March 1
Source: IANS
2024-02-27 04:23:30 pm
Some stranded Russian Sokol oil cargoes begin to move to China, India - data Three tankers with Russian Sokol oil that had been stranded at sea due to payment problems and Western sanctions have started to move towards China and India, data from Kpler and LSEG showed on Monday. The backlog of Sokol tankers has become the biggest disruptions to Russia's oil trade since the West imposed sanctions on Moscow over its military actions in Ukraine. More than 10 million barrels of Sokol have been floating in seaborne storage over the past three months due to payment...
Some stranded Russian Sokol oil cargoes begin to move to China, India - data
Some stranded Russian Sokol oil cargoes begin to move to China, India - data
Source: Reuters
2024-02-20 09:11:24 am
Russia`s Rosneft continues to study & conserve Arctic ecosystems The Russian oil company Rosneft has been implementing a comprehensive scientific research programme in the Arctic region for more than ten years, and is advancing the programme to coming years. During the last 10 years, the company has conducted dozens of large-scale expeditions and collected unique information about the region. In particular, since 2020, Rosneft has been implementing a corporate programme focusing on studies of the region's key species that are indicative of the re...
Russia`s Rosneft continues to study & conserve Arctic ecosystems
Russia`s Rosneft continues to study & conserve Arctic ecosystems
Source: IANS
2024-02-19 02:11:25 pm
India exports bananas to Russia after Moscow stops purchase from Ecuador India has started supplying bananas to Russia with export volumes planned to be increased in the future, media reports said. Russia was earlier importing bananas from Ecuador in large quantities but has now decided to stop buying the fruit from the Latin American country as the product has found to be tainted. “The first batch of bananas from India reached Russia in January 2024, with the next supply planned by the end of this February. The volumes of export of Indian bananas to t...
India exports bananas to Russia after Moscow stops purchase from Ecuador
India exports bananas to Russia after Moscow stops purchase from Ecuador
Source: IANS
2024-02-07 02:12:45 pm
India`s oil imports from Russia hit 12-month low in January as sanctions bite India's crude oil imports from its top supplier Russia fell for a second straight month in January to their lowest in a year as tighter Western sanctions hit supply of light sweet Sokol grade, preliminary ship tracking data showed. The world's third-biggest oil importer and consumer boosted imports of Iraqi oil to offset the drop in Russian oil imports, according to the data. Imports from Russia declined 4.2% to 1.3 million barrels per day (bpd), according to LSEG data. Data fro...
India`s oil imports from Russia hit 12-month low in January as sanctions bite
India`s oil imports from Russia hit 12-month low in January as sanctions bite
Source: Reuters
2024-02-01 03:36:53 pm
Oil slips as economic concerns eclipse geopolitical tensions Oil prices eased in early trade on Tuesday as anxiety over the global demand outlook for oil offset geopolitical tensions in the Middle East and supply worries following an attack on a Russian fuel export terminal over the weekend. Brent crude futures fell 14 cents, or 0.2%, to $79.92 a barrel by 0125 GMT, while U.S. West Texas Intermediate crude futures (WTI) were last down 10 cents, or 0.1%, at $74.66 a barrel. Both the contracts had settled about 2% higher on Monday, as a Ukrainian d...
Oil slips as economic concerns eclipse geopolitical tensions
Oil slips as economic concerns eclipse geopolitical tensions
Source: Reuters
2024-01-23 08:51:43 am
India has no plans to import wheat for now - trade minister India does not plan to import wheat and its farmers are likely to harvest a bumper crop that will boost stockpiles in the world's second-biggest producer of the staple, the trade minister said on Saturday. "Ground reports indicate that the crop is quite good and this year's production is expected at a record 114 million metric tons," Piyush Goyal told reporters. India banned wheat exports in 2022 after output was curtailed due to a heat wave, but more recently overseas...
India has no plans to import wheat for now - trade minister
India has no plans to import wheat for now - trade minister
Source: Reuters
2024-01-14 08:54:04 am
Indian refiners set to ask for extra Saudi oil after sharp price cut Two Indian state refiners are seeking to boost imports of Saudi crude oil after the kingdom cut the official selling price of its key export grade for February to the lowest in 27 months, company sources said. Indian Oil Corp, the country's top refiner, and Bharat Petroleum Corp, are looking at lifting an additional 1 million barrels of oil each from Saudi Aramco in February, the sources said. Saudi Aramco typically notifies Asian buyers of their monthly crude allocations by the 10t...
Indian refiners set to ask for extra Saudi oil after sharp price cut
Indian refiners set to ask for extra Saudi oil after sharp price cut
Source: Reuters
2024-01-09 04:58:15 pm
India turns to Saudi as purchases of Russian oil fall in Dec India increased imports of Saudi oil in December as payment problems drove its Russian oil buys to an 11-month low, with at least five cargoes of the sweet Sokol variant heading to other locations, data from vessel tracking agencies showed. Indian Oil Corp, which was set to get the Sokol oil, had to withdraw from its inventory and buy from the Middle East to make up the shortfall, sources told Reuters last month. Top refiner IOC is the only state-run firm with an annual deal to buy a va...
India turns to Saudi as purchases of Russian oil fall in Dec
India turns to Saudi as purchases of Russian oil fall in Dec
Source: Reuters
2024-01-02 05:04:00 pm
Russia, New Year 2024, 2024 celebrations Greece welcomed 2024 with a spectacular and colourful fireworks display that lit up the ancient monuments of the Acropolis in Athens. Hundreds of people celebrated New Year in the Greek capital including in its central Syntagma square. 
Russia, New Year 2024, 2024 celebrations
Russia, New Year 2024, 2024 celebrations
Source: ANI
2024-01-01 01:09:32 pm
Russians celebrate New Year 2024 with a hope for peace The people of Russia welcomed New Year 2024 with festive decorations in the streets of the capital city on December 31. There will be no fireworks in Moscow again this year on Russia's biggest family holiday, but in almost every other way, the capital is as bustling as at any New Year before the war in Ukraine.
Russians celebrate New Year 2024 with a hope for peace
Russians celebrate New Year 2024 with a hope for peace
Source: ANI
2024-01-01 12:22:18 pm
Russian Indologist impresses EAM S Jaishankar with `Ramcharitmanas ka Anuvad` in St Petersburg External Affairs Minister S Jaishankar was impressed by a Russian Indologist on December 28 who delivered her speech in Hindi lauding the ancient literature and Hindi poets. EAM Jaishankar attended Rountable event with Indologists in Saint
Russian Indologist impresses EAM S Jaishankar with `Ramcharitmanas ka Anuvad` in St Petersburg
Russian Indologist impresses EAM S Jaishankar with `Ramcharitmanas ka Anuvad` in St Petersburg
Source: ANI
2023-12-29 11:47:33 am
`50 billion dollars in trade` EAM Jaishankar highlights growing India-Russia ties as he meets President Putin External Affairs Minister Dr S Jaishankar met Russian President Vladimir Putin in Moscow on December 27. During the meeting, S Jaishankar highlighted the growing India-Russia ties. He also conveyed Prime Minister Narendra Modi’s greetings to Russian Prez Putin.  Jaishankar said, “First of all, please allow me to convey the personal greetings of Prime Minister Modi...I would also, extensive like to take the opportunity to share with you, aspects of the progress that we have m...
`50 billion dollars in trade` EAM Jaishankar highlights growing India-Russia ties as he meets President Putin
`50 billion dollars in trade` EAM Jaishankar highlights growing India-Russia ties as he meets President Putin
Source: ANI
2023-12-28 12:42:27 pm
India, Russia sign deal for future units at nuclear power plant India said on Tuesday it had signed agreements with Russia for future units of the Kudankulam Nuclear Power Project in the southern state of Tamil Nadu. Foreign minister Subrahmanyam Jaishankar, who is on a visit to Russia, is expected to hold talks with his Russian counterpart Sergei Lavrov on Wednesday, and the two ministers plan to discuss bilateral ties as well as the conflicts in Ukraine and Gaza and issues related to groups such as BRICS. "Today, in the presence of Deputy Pri...
India, Russia sign deal for future units at nuclear power plant
India, Russia sign deal for future units at nuclear power plant
Source: Reuters
2023-12-27 09:43:26 am
Payment woes delay supply of Russian Sokol oil to India -sources Shipments of Russian Sokol crude oil to Indian Oil Corp have been delayed by payment problems, forcing India's biggest refiner to draw from its inventories and buy more oil from the Middle East, two sources familiar with the matter said. IOC is the only state refiner that has an annual deal to buy a variety of Russian grades, including Sokol, from Russian oil major Rosneft. Sokol oil is supplied to IOC by Sakhalin-1 LLC, a unit of Rosneft, sources said. Indian state refiners settle ...
Payment woes delay supply of Russian Sokol oil to India -sources
Payment woes delay supply of Russian Sokol oil to India -sources
Source: Reuters
2023-12-26 04:47:03 pm
Moscow hosts international championship `Battles of the Robots` The only rule in this ring is to immobilise your opponent by any available means. The heat of sporting passions is so intense that sparks fly - literally. It is an experimental way to find out who is stronger - a robot spinner with a weapon made of a rotating mechanism, a destroyer with an impressive sharp beak or a flipper with a lever that can send any competitor to fly. 16 strongest teams met in the finals of the "battle of the robots": from Russia, India, china and turkey. The w...
Moscow hosts international championship `Battles of the Robots`
Moscow hosts international championship `Battles of the Robots`
Source: ANI
2023-12-21 10:22:12 am
Oil prices edge up as traders eye Red Sea developments  Oil prices ticked higher on Monday after rising more than 1% in the previous session on jitters over global trade disruption and geopolitical tensions in the Middle East following Houthi attacks on ships in the Red Sea. Brent crude futures edged up 6 cents, or 0.1%, to $79.29 a barrel by 0137 GMT while U.S. West Texas Intermediate crude was at $74.11 a barrel, up 17 cents, or 0.2%. Washington on Tuesday launched a task force to safeguard Red Sea commerce as attacks by Iran-backed ...
Oil prices edge up as traders eye Red Sea developments
Oil prices edge up as traders eye Red Sea developments
Source: Reuters
2023-12-20 09:38:17 am
Oil steadies as U.S. leads push to safeguard Red Sea vessels Oil steadied on Tuesday as investors considered the potential impact on oil supply from attacks by Yemen's Iran-aligned Houthi militants against ships in the Red Sea, which have disrupted maritime trade and forced companies to reroute vessels. The United States on Tuesday announced the creation of a multinational operation to safeguard Red Sea commerce. The United Kingdom, Bahrain, Canada, France, Italy, Netherlands, Norway, Seychelles and Spain are among the nations involved. Brent...
Oil steadies as U.S. leads push to safeguard Red Sea vessels
Oil steadies as U.S. leads push to safeguard Red Sea vessels
Source: Reuters
2023-12-19 09:04:07 am
Oil climbs nearly 1% on drop in Russia exports, Red Sea jitters Oil prices rose nearly 1% in early Asian trade on Monday, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption. Brent crude futures climbed 69 cents, or 0.9%, to $77.24 a barrel by 0037 GMT, while U.S. West Texas Intermediate crude was at $72.08 a barrel, up 65 cents, or 0.9%. "The bad weather in Russia has played a part in the stronger open this morning as has the Houthis attack on ships close to Yeme...
Oil climbs nearly 1% on drop in Russia exports, Red Sea jitters
Oil climbs nearly 1% on drop in Russia exports, Red Sea jitters
Source: Reuters
2023-12-18 09:02:53 am
India sees minimal trade disruption after G7 ban on Russian diamonds India expects little disruption to its diamond industry from an incoming ban by G7 countries on Russian gems, a trade ministry official said on Friday, because the country mostly processes smaller Russian diamonds which will be less affected by the new restrictions. India is home to 90% of the world's diamond cutting and polishing industry, including for some Russian diamonds. Last week, G7 nations announced a direct ban on Russian diamonds starting Jan. 1 followed by phased-in rest...
India sees minimal trade disruption after G7 ban on Russian diamonds
India sees minimal trade disruption after G7 ban on Russian diamonds
Source: Reuters
2023-12-17 09:00:33 am
India sees minimal trade disruption after G7 ban on Russian diamonds India expects little disruption to its diamond industry from an incoming ban by G7 countries on Russian gems, a trade ministry official said on Friday, because the country mostly processes smaller Russian diamonds which will be less affected by the new restrictions. India is home to 90% of the world's diamond cutting and polishing industry, including for some Russian diamonds. Last week, G7 nations announced a direct ban on Russian diamonds starting Jan. 1 followed by phased-in rest...
India sees minimal trade disruption after G7 ban on Russian diamonds
India sees minimal trade disruption after G7 ban on Russian diamonds
Source: Reuters
2023-12-16 09:01:02 am
Oil rises on Middle East worries, future cuts to borrowing costs Oil prices rose in early Asian trade on Thursday, extending gains from the previous session following a bigger-than-expected weekly withdrawal from U.S. crude storage and signaling from the U.S. Federal Reserve that it would start lowering borrowing costs in 2024. Lower interest rates cut consumer borrowing costs, which can boost economic growth and demand for oil. The news also sent the dollar falling, which makes oil less expensive for foreign purchasers. Brent futures rose 46 cents, ...
Oil rises on Middle East worries, future cuts to borrowing costs
Oil rises on Middle East worries, future cuts to borrowing costs
Source: Reuters
2023-12-14 08:49:26 am
India bought Russian oil at $84.2/bbl in October, highest since December The average price of Russian oil delivered to top buyer India in October rose to $84.20 per barrel, way above the $60 price cap set by the Group of Seven nations in December last year, preliminary Indian government data showed. India paid the highest prices for Russian oil in October since the price cap was imposed, providing a boost to Moscow's revenues despite efforts by western nations to curb the producer's income and funding for the Ukraine war. India, the world's third...
India bought Russian oil at $84.2/bbl in October, highest since December
India bought Russian oil at $84.2/bbl in October, highest since December
Source: Reuters
2023-12-12 05:27:28 pm
India's Russian oil imports seen rising on lower prices Easing global oil prices would help India boost imports from Russia, a senior government official said on Friday, as a lower than $60 a barrel price of Russian oil will enable buyers to use Western services such as insurance and ships. The Group of Seven large economies known as G7 and some other nations have imposed a ceiling of $60 per barrel for oil at Russian ports to cut Moscow's revenue seen as funding its war in Ukraine. Russia's flagship grade Ural in Baltic ports has pl...
India's Russian oil imports seen rising on lower prices
India's Russian oil imports seen rising on lower prices
Source: Reuters
2023-12-08 05:30:46 pm
Oil prices head for weekly decline on signs of weakened Asian demand  Oil prices rose in early trade on Friday but were on track to fall 6% for the week, hovering near six-month lows, with investors fretting about weak energy demand in Asia combined with high U.S. crude production. Brent crude futures rose 68 cents, or 0.9%, to $74.73 a barrel by 0136 GMT, while U.S. West Texas Intermediate crude futures gained 64 cents, also up 0.9%, to $69.98 a barrel. Both benchmarks slid to their lowest since late June in the previous session. In a signal that t...
Oil prices head for weekly decline on signs of weakened Asian demand
Oil prices head for weekly decline on signs of weakened Asian demand
Source: Reuters
2023-12-08 09:00:05 am
Oil prices steady amid OPEC+ cut doubts, Mid-East tension  Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by OPEC+ and as continued tension in the Middle East spurred supply concern. Brent crude futures edged up 13 cents to $78.16 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures were up 18 cents at $73.22 a barrel. Oil prices had declined in the previous trading session as traders doubted that supply cuts by OPEC+ would have a significant impact, and as a stronger U.S. dollar weighed on...
Oil prices steady amid OPEC+ cut doubts, Mid-East tension
Oil prices steady amid OPEC+ cut doubts, Mid-East tension
Source: Reuters
2023-12-05 08:51:10 am