Business

New Delhi: The US waiver for buying seaborne Russian crude has immediately freed another 20-odd million barrels of oil on board ships, which is expected to cool runaway prices that have crossed the $100 per barrel mark in the global market amid the Iran war....

Washington: Amid rising oil prices, the Trump administration has announced a temporary authorisation to other countries to purchase Russian oil currently stranded at sea, as there were no immediate signs of an early end to the US war on Iran. The US had granted a...

New Delhi: There is no LPG shortage in the country and "no dry-out has been reported", Petroleum and Natural Gas Ministry's Joint Secretary, Marketing and Oil Refining, Sujata Sharma, said Thursday. In a briefing on the current LPG situation in the country, she said that...

New Delhi/Tehran: Iran has allowed India-flagged tankers to pass through the Strait of Hormuz following talks between External Affairs Minister (EAM) S. Jaishankar and his Iranian counterpart Abbas Araghchi, with the aim of keeping the critical sea route open for the transportation of crude oil...

Washington: The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve over the next four months, part of a coordinated international effort by major economies to stabilise energy markets as conflict in the Middle East pushes global prices higher. The...

Berlin: Germany and Austria say they are releasing parts of their oil reserves following an International Energy Agency (IEA) request for its members to release 400 million barrels to help temper energy price spikes due to the Iran war. The largest-ever previous collective release of...

Bucharest: Romania's top defence body Wednesday approved a request from the United States to increase its troop presence and use of the NATO country's air bases to facilitate its ongoing military operations in Iran and the Middle East. President Nicusor Dan said after a meeting...

Mumbai: Stock market benchmark indices Sensex and Nifty ended nearly 2 per cent lower Wednesday after a day's breather following a spike in crude oil prices amid growing tensions in West Asia. Besides, sustained foreign fund outflows and selling in blue-chip bank stocks also drove...

New Delhi: State-owned fuel retailers Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) absorbing the impact of elevated global energy prices will lead to heightened margin and cash-flow volatility, Moody's Ratings said Wednesday. "Domestic retail prices of fuels...

New York/Washington: US President Donald Trump has said that India's Reliance Industries will make an investment in a new oil refinery being opened in Texas, thanking the company and "our partners in India" for the deal. Describing it as a "historic USD 300 billion deal",...