January 29, 2023 New Delhi, India Crude Oil Scenario Geopolitical tensions in key oil-producing regions have led to a significant surge in crude oil prices, as the market grapples with fears of potential disruptions in the global oil supply chain. Here’s a breakdown of the factors contributing to this uptick: Attacks on US Forces in…
January 23, 2023 New Delhi, India Crude Oil Prices In a recent turn of events, crude oil futures experienced a retreat following a nearly 2% gain on Monday. The market witnessed a drop in both Brent oil futures and West Texas Intermediate (WTI) crude oil futures, driven by various factors influencing the global oil market….
January 16, 2023 New Delhi, India Government Initiates Strategic Tax Adjustment To bolster the domestic energy sector, the Indian government has decided to reduce the windfall tax on domestically produced crude oil. The tax, previously set at Rs 2,300 per tonne, will now stand at Rs 1,700 per tonne, effective January 16. Understanding the Windfall…
January 13, 2023 New Delhi, India Crude Oil Takes a Step Back Amidst Easing Geopolitical Worries Oil prices experienced a retreat in the latest market sessions, with West Texas Intermediate (WTI) falling below the $73.00 per barrel mark. Here’s a breakdown of the key factors influencing the recent fluctuations. Geopolitical Concerns Trigger Initial Surge The…
January 12, 2023 New Delhi, India Geopolitical Tensions Propel WTI Crude Oil Prices In a dynamic turn of events, West Texas Intermediate (WTI) crude oil prices experienced a significant surge, primarily fueled by a mix of geopolitical tensions and positive trade data from China. 1. Military Strikes Escalate Concerns The escalation began as the United…
December 19, 2023 New Delhi, India Indian Oil Stocks Rally Following Government’s Tax Cut and Global Crude Surge In a recent turn of events, Indian oil stocks witnessed a significant upswing as the government announced a reduction in the windfall profit tax on crude oil production and diesel exports. Here’s a closer look at the…
Date- September 7, 2023 Place- New Delhi, India In the constantly evolving realm of the oil market, Western Texas Intermediate (WTI) crude oil is presently maintaining its position at approximately $87 per barrel. Vigilant market participants are closely monitoring several influential factors shaping the trajectory of this essential commodity. Below is an exhaustive review of…
November 28, 2024 New Delhi, India Rupee slipped by 15 paise on Wednesday, settling at ₹84.44 per dollar, amidst rising crude oil prices and concerns over US trade policies under President-elect Donald Trump. Key Factors Affecting the Rupee Crude Oil Surge: Brent crude climbed 0.55% to $73.21 per barrel, increasing India’s import costs. Global…
November 25, 2024 New Delhi, India c Today Rupee (INR) extended its rally on Monday, supported by the weakening US Dollar (USD) and anticipated inflows of $2.5 billion from MSCI’s equity index rebalancing. However, higher crude oil prices and persistent foreign portfolio outflows could limit further gains. PMI Data Highlights HSBC Flash India Composite Output…
October 21, 2024 New Delhi, India USDINR The Indian Rupee (INR) strengthened on Monday, supported by a decline in crude oil prices and a softer US Dollar (USD). However, persistent equity outflows could pose selling pressure on the currency. So far in October, foreign portfolio investors have sold a net amount of $8.4 billion, surpassing…
