New Delhi, April 6 – Saudi Arabia increased the price of its flagship crude on Monday, with state-owned Saudi Aramco setting the official selling price for its Arab Light crude for May shipments at a record premium of $19.50 per barrel over the regional benchmark for Asian buyers.This steep...
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New Delhi, April 4: State-run oil marketing company (OMC) Indian Oil Corporation Ltd (IOCL) assured on Saturday that supplies of petrol, diesel, and LPG remain adequate across the country, even as the Centre steps up efforts to minimize any disruption to fuel supply chains amid global...
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Colombo, March 31 Sri Lanka has decided to increase electricity prices, effective April 1, the power authorities said.The Chairman of the Public Utilities Commission of Sri Lanka (PUCSL), KPL Chandralal, said on Monday that the state-owned electricity entity, the Ceylon Electricity Board...
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South Korea Launches Crude Oil Swap System to Counter Supply Risks Amid Strait of Hormuz Disruptions
Government Introduces Temporary Oil Swap Mechanism
Seoul, March 31: South Korea’s government has introduced a crude oil swap system with private refiners starting Tuesday, aiming to stabilize...
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India has approximately 60 days of fuel stock cover, and one month's supply of LPG is readily available. There are no shortages of petrol, diesel, or LPG, and reports of shortages are a deliberate misinformation campaign aimed at creating panic buying.Amid reports of panic buying and long...
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Brent Crude and WTI Prices Rise
Mumbai, March 26 – Global oil prices jumped to above $100 per barrel on Thursday following a statement from Iran indicating it was not in direct negotiations with the United States to end the conflict in the Middle East.Brent crude futures rose by 1.21 percent...
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Indian Stock Market Crash: Sensex and Nifty See Steepest Fall in Nearly Two Years Amid Oil Price Surge
Benchmark Indices Drop Over 3% Amid Global Tensions
Mumbai, March 19: Indian stock markets witnessed a sharp decline on Thursday as escalating geopolitical tensions and a surge in crude oil...
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UAE Assures Priority Crude Oil Supply to South Korea Amid Middle East Tensions
South Korea Secures 24 Million Barrels of Oil from UAE
Seoul, March 18: The United Arab Emirates has assured South Korea of priority access to crude oil supplies, as concerns over global energy stability intensify due...
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Brent Crude Surges 10% to $80 as Iran Conflict Sparks Fears of $100 Oil
Brent crude prices jumped 10% to around $80 per barrel on Sunday, as escalating US and Israeli strikes on Iran pushed the Middle East into renewed conflict and triggered fears of a major supply disruption.Oil traders...
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