Crude Oil
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Russia Ukraine War fallout: Get ready for steep hike in petrol, diesel prices
Business | Mar 03, 2022, 12:44 PM ISTThe basket of crude oil India buys rose above USD 102 per barrel on March 1, the highest since August 2014. This compares to an average of USD 81.5 per barrel price of the Indian basket of crude oil at the time of freezing of petrol and diesel prices in early November last year.
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Sri Lanka runs out of cash to buy fuel: Here's how India is helping forex-starved nation
Business | Feb 22, 2022, 02:42 PM ISTSri Lanka's worsening foreign-exchange shortage has seriously impacted the energy sector, which largely depends on imports for fuel.
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US to release 50 million barrels of oil with India, China, UK to ease prices
Business | Nov 23, 2021, 07:05 PM ISTThe move is aimed at global energy markets, but also at voters who are coping with higher inflation and rising prices ahead of Thanksgiving and winter holiday travel. Gas prices are at about $3.40 a gallon, more than double their price a year ago, according to the American Automobile Association.
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Over the roof! Petrol price up Rs 36 a litre, diesel 26.58 in less than 18 months
Business | Oct 23, 2021, 03:13 PM ISTPetrol in Delhi now costs Rs 107.24 a litre and diesel comes for Rs 95.97, according to a price notification of state-owned fuel retailers.
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Will Afghanistan situation have bearing on global oil prices?
World | Aug 20, 2021, 10:36 PM ISTIf the turmoil is restricted within Afghan boundaries, the impact would be limited. But if Afghanistan continues to be on the boil, and boil violently, the oil-producing regions of the Middle East and Central Asia could get affected and, consequently, oil prices.
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OPEC and allies agree to gradually boost crude oil output
World | Apr 01, 2021, 11:39 PM ISTThe OPEC oil cartel and allied countries said Thursday that they have decided to add gradually add back some 2 million barrels per barrel per day of oil production from May to July, moving cautiously in pace with the recovery of the global economy from the COVID-19 pandemic.
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Increase in prices of crude oil in international markets led to fuel price hike: Dharmendra Pradhan
News | Feb 23, 2021, 04:45 PM ISTOn increasing fuel prices in the country, Union Petroleum and Natural Gas Minister, Dharmendra Pradhan said that it has happened due to increase in prices of crude oil in international markets.
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Petrol, Diesel prices rise for 4th consecutive day in MP
News | Feb 14, 2021, 08:20 PM ISTPetrol and diesel prices have gone up in Madhya Pradesh and stood at Rs 96.69 and Rs 87.20 per litre respectively on February 14.As compared to yesterday, the price of petrol has become costlier by 0.32 paise while diesel price increased by 0.4 paise.
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Oil sheen observed at backside of MT New Diamond ship carrying 3 lakh ton of crude oil
India | Sep 09, 2020, 10:44 AM ISTThe Indian Coast Guard has said oil sheen has been observed astern/backside of the very large crude carrier (VLCC) New Diamond that has been on fire for the past six days. The Coast Guard said oil spill dispersants were sprayed by its Dornier aircraft to neutralise.
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Oil price plunges below zero as demand collapses; Asian shares skid
Business | Apr 21, 2020, 09:38 AM ISTTraders are still paying more than $20 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the “true” price of oil. Crude to be delivered next month, meanwhile, is running up against a stark problem: traders are running out of places to keep it, as factories, automobiles and airplanes sit idled around the world.
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COVID-19: Oil prices drop below zero as demand collapses
News | Apr 21, 2020, 09:52 AM ISTOil prices plunged below zero on Monday as demand for energy collapses amid the coronavirus pandemic and traders don’t want to get stuck owning crude with nowhere to store it.
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Govt cuts import duty on crude, refined palm oils under ASEAN, IMCECA pacts
Business | Jan 01, 2020, 06:07 PM ISTThe government on Wednesday slashed import duty on refined palmolein from 50 per cent to 45 per cent, while that on crude palm oil (CPO) from 40 per cent to 37.5 per cent with immediate effect, a move that the industry opposed saying it will hurt domestic refiners.
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Petrol price at 1-year high, diesel stable
India | Nov 26, 2019, 01:11 PM ISTBenchmark crude oil Brent crude on the International Market Intercontinental Exchange has risen nearly three dollars a barrel this month.
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Iraq’s protests raise question: Where does the oil money go?
World | Nov 14, 2019, 05:49 PM ISTWaves of violent protests have engulfed Baghdad and Iraq’s southern provinces, with demonstrators chanting for the downfall of a political establishment that they say doesn’t prioritize them.
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Core sector output shrinks by 5.2 pc in September
Business | Oct 31, 2019, 06:04 PM ISTThe eight core sectors had expanded by 4.3 per cent in September 2018. Production of seven sectors of coal, crude oil, natural gas, refinery products, cement, steel, and electricity contracted in September.
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Rupee furthers loss by 18 paise as crude worries hurt sentiment
Business | Sep 17, 2019, 06:39 PM ISTAt the Interbank Foreign Exchange, the rupee opened at 71.83 then lost further ground and fell to an intra-day low of 71.98 against the US dollar.
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US crude oil inventories decrease last week: American Petroleum Institute
Business | Jul 10, 2019, 10:05 AM ISTThe American Petroleum Institute (API) on Tuesday reported a decrease of 8.129 million barrels in the US crude oil inventories for the week ending July 5.
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Oil prices jump nearly 4% over attack on oil tankers
Business | Jun 13, 2019, 06:33 PM ISTThe benchmark Brent Crude on Thursday logged a steep jump of nearly 4 per cent over reports of attack on oil tankers in the Gulf of Oman.
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Your petrol pump wala may hold secret to Lok Sabha election win
India | Mar 15, 2019, 07:04 PM ISTThe previous Congress-led UPA government had lost elections in 2014 when petrol prices had risen sharply in September 2013 to Rs 83.67. This is almost identical to price trend under the current regime when petrol price shot up to an all-time high level of over Rs 90 a liter in Mumbai in September 2018, just a few months ahead of the general election.
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Sensex posts its biggest single-day gain in 19 months, closes at 34733.58
Business | Oct 12, 2018, 04:22 PM ISTBoth indices ended the week higher for the first time in six weeks. During the period the Sensex climbed 366.59 points and Nifty rose 156.05 points.