Business

The government has asked shipping companies, vessel operators and their agents to refrain from “predatory, non-transparent and opportunistic pricing” practices as freight costs rise sharply amid disruptions caused by the ongoing conflict in West Asia, PTI reported citing sources.The advisory was issued by the Directorate General of Shipping (DGS) on Monday after the regulator received … Read more

Experts note that while the domestic buffers for oil are relatively strong, LPG and LNG supplies need a boost. (AI image) India imports around 90% of its crude oil needs, and approximately 60% and 50% of its LPG and LNG requirements respectively. These are not just mere statistics – it’s a telling picture of the … Read more

Donald Trump indicated that Washington might consider lifting ‘certain oil-related sanctions’ in order to help bring down prices. (AI image) Even as the world economy reels under the global oil supply shock, the Donald Trump administration has reportedly made it clear to European countries that any easing on Russian crude oil sanctions would be related … Read more

The government has revised the priority order for allocating domestically produced natural gas, placing LPG production, CNG for transport and piped cooking gas for households at the top of the list, as disruptions in imported gas supplies intensify amid the widening West Asia conflict, PTI reported.According to a gazette notification, the requirements of these sectors … Read more

Saudi Arabia’s oil company Saudi Aramco, the world’s largest oil exporter, warned on Tuesday that the ongoing Iran war could have “catastrophic consequences” for global oil markets if shipping disruptions in the Strait of Hormuz continued.“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on, the more drastic … Read more

Russian President Vladimir Putin on Monday (local time) warned that the US-Israeli war on Iran has pushed global energy markets into crisis, saying oil flows linked to the Strait of Hormuz could face a complete halt in the coming weeks. He also said Russia remains open to restoring long-term energy cooperation with European nations if … Read more

Airline stocks had previously come under heavy pressure as geopolitical tensions pushed oil prices sharply higher. (AI image) Oil prices plunge, bring cheer to aviation stocks! Shares of airline operators IndiGo and SpiceJet surged by as much as 8 per cent on Tuesday after US President Donald Trump indicated that the conflict with Iran could … Read more

Exchange-traded funds (ETFs) linked to gold and silver recorded strong gains of up to 7 per cent on the Multi Commodity Exchange (MCX) on Tuesday as prices of precious metals opened significantly higher. The rally was aided by weakness in the U.S. dollar after U.S. President Donald Trump suggested that the conflict in the Middle … Read more

Oil prices relaxed on Tuesday after jumping past the $100-per-barrel mark a day earlier. The pullback came as fears of long-lasting supply disruptions eased slightly, with signs that the Middle East conflict could see some diplomatic movement. As of 0018 GMT, Brent crude futures were down $6.51, or 6.6%, to $92.45 a barrel, while US … Read more

Morgan Stanley maintained an overweight rating on Reliance Industries with a target price of Rs 1,803. Analysts said tight global markets are keeping refining margins higher. The company can process heavy and sour crude which is supportive for the stock. The company also has a diversified crude sourcing process among global refiners which also supports … Read more