Tag: crude oil

The Strait of Hormuz is the chokepoint for bulk of the Persian Gulf’s exports of crude, and also refined fuels like diesel and jet fuel. (Reuters)
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What’s at stake for crude oil markets as Israel, US pile up Iran attacks| Business News

The Iran attacks by the United States and Israel create new risks for a significant chunk of the world’s crude oil supply. The Strait of…

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Posted in Economy

China’s Russian oil imports to hit new record in February as India cuts back

SINGAPORE: China‘s Russian oil imports are set to climb for a third straight month to a new record high in February as independent refiners snapped…

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The daily average price of various crude grades (popularly known as Indian basket) dipped to $59.29 a barrel on January 5. T (AFP)
Posted in Business

India’s crude import cost slips below $60 a barrel| Business News

NEW DELHI: India’s average crude oil import cost fell below $60 a barrel on Monday, among the lowest it has been in five years despite global geopolitical…

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Reliance Industries, which operates the world's largest refinery at Gujarat's Jamnagar bought at least 2.5 million barrels of Middle Eastern crude oil last week. (Reuters)
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Reliance grabs Middle East crude amid US scrutiny of India’s Russian oil imports| Business News

Reliance Industries Ltd. bought middle-east crudes last week and may place more orders, in a sign that US pressure against India’s Russian oil imports may…

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Posted in Economy

Gold prices new barometer of global uncertainty like crude oil in past, RBI Governor Malhotra says

RBI Governor Sanjay Malhotra on Friday said perhaps gold price is acting as a new barometer reflecting global uncertainties as the crude oil used to…

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