Crude oil futures fell 0.51 per cent to Rs 4,254 per barrel Thursday in line with weak trends in overseas markets. Crude oil for delivery in June contracts was trading lower by Rs 22, or 0.51 per cent, at Rs 4,254 per barrel with a business volume of 16,868 lots on Multi Commodity Exchange (MCX).
Iranian Foreign Minister Javad Zarif’s visit to India on May 14 and his talks with Sushma Swaraj again present India with a difficult choice: Implement US sanctions against Iran by stopping the import of Iranian oil or continue to deal with Iran on the basis of international law and India’s national interests.
India’s crude oil imports jumped 14 per cent to 19.7 Million Tonne (MT) last month. In value terms, the country’s oil import bill rose 18 per cent to $9.8 billion in April, according to data published by the oil ministry.
A high-level committee Tuesday submitted its report on a strategy to reduce India’s oil import dependence, an official statement said without giving details. The high-level committee (HLC)
A High Level Committee (HLC) has submitted recommendations to bring down India’s dependence on crude oil imports. “HLC clearly brought out the strategy to reduce the import dependency of the nation in the report.
Crude oil rose by Rs 36 to Rs 4,436 per barrel in futures market Tuesday as speculators indulged in creating speculative positions, taking positive cues from global markets.
Oil rose for a second day on signs OPEC and its allies will extend production cuts beyond June, while a steadily deteriorating U.S.-China trade relationship kept prices from pushing higher.
Oil rose to multi-week highs on Monday after Opec indicated it will likely maintain production cuts that have helped support prices this year, while tensions continued to escalate in the Middle East. Brent crude was up by 96 cents, or 1.3%, at $73.17 a barrel by 0227 GMT
Oil rose to multi-week highs on Monday after OPEC indicated it would probably maintain production cuts that have helped support prices this year, while tension continued to escalate in the Middle East.
Crude oil prices edged up 0.23 per cent to Rs 4,426 per barrel in futures trade Monday as speculators widened their bets in tandem with a firm trend overseas. On the Multi Commodity Exchange, crude for delivery in May contracts was up by Rs 10, or 0.23 per cent,