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The Latest Breaking News from Oil

Petrol, diesel prices hiked by Rs 3/litre: Here’s what top economists have to say

Fuel prices in India saw their first increase in over four years on Friday. Petrol and diesel prices rose by approximately Rs 3 per litre. This move by state-run oil companies aims to address mounting losses due to soaring global crude oil prices. The escalation in West Asia and disruptions…

The Economic Times

What makes the Rs 90,000-crore Great Nicobar Island project critical for India both militarily and economically

India is undertaking a massive Rs 90,000 crore project in Great Nicobar. This initiative will develop a major transshipment port and international airport. It aims to strengthen India's maritime presence and trade infrastructure. The project is strategically located near the Malacca Strait, a vital global trade route. Defence veterans support…

The Economic Times

Trump says he and China's Xi agree Iran cannot have nuclear weapons

Trump and Xi Jinping also discussed keeping the Strait of Hormuz open for global shipping. Tensions remain high as the conflict continues. Recent incidents involve a sunk cargo vessel and a ship boarded by unauthorised personnel. Diplomacy is currently stalled.

The Economic Times

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Oil price strain keeps rupee near record low, state banks' dollar sales cushion

The Indian rupee weakened on Friday, nearing a record low due to elevated oil prices and rising U.S. bond yields. State-run banks' dollar sales provided some support, preventing a historic dip. India's recent fuel price hike and expectations of Fed rate hikes further pressured the currency, while potential measures to…

The Economic Times

The Rs 3 relief that wasn't: Why investors are dumping oil stocks after long-awaited petrol, diesel price hike

Shares of HPCL and BPCL fell up to 3% despite the first fuel price hike since 2022, as investors worried the increase would not offset mounting losses. Analysts estimate OMCs could still lose nearly Rs 500 crore daily at current crude prices. With Brent crude above $100 and West Asia…

The Economic Times

Capitalmind Flexi Cap Fund exits RIL and 2 others, hikes stake in Titan Company, MCX and 16 other stocks in April

Capitalmind Flexi Cap Fund exited Reliance Industries, Bank of Baroda, and L&T Finance in April. The fund also increased stakes in Titan Company, MCX, and 16 other stocks, including NTPC and ONGC. It added MTAR Technologies, Tata Steel, and Kirloskar Oil Engines as new holdings, expanding its portfolio to 42…

The Economic Times

Yogesh Patil decodes why petrol, diesel prices may rise further

India's oil marketing companies received a modest Rs 3 per litre fuel price hike, which analysts say is insufficient to cover daily losses. While this offers some relief, a further Rs 11 per litre increase is needed to eliminate under-recoveries, as the government balances inflation concerns with retailer financial health.

The Economic Times

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Why Your Skin Changes With the Weather and Healthy Skin Tips That Actually Help

Learn why skin reacts to changing seasons and explore seasonal skin care routines plus healthy skin tips for balanced skin.

Fashion Times

The Latest: Trump wraps up China visit and holds private meeting with Chinese leader Xi Jinping

U.S. President Donald Trump wraps up his visit to Beijing with a private meeting at Chinese leader Xi Jinping’s official residence before he departs for Washington

The Independent UK

India raises fuel prices as global energy crisis adds pressure on economy

India has raised fuel prices by 3 rupees per liter to offset losses from higher global oil prices

The Independent UK

Trump says made 'fantastic trade deals' with Xi

President Donald Trump met with President Xi Jinping in Beijing. They discussed significant trade agreements beneficial to both nations. China offered assistance regarding the Strait of Hormuz. Discussions also touched upon artificial intelligence and oil purchases. The leaders addressed geopolitical flashpoints like Taiwan, aiming to manage differences.

The Economic Times

US Stock Market: Bond markets brace for higher-for-longer yields amid oil price surge

Investors anticipate prolonged elevated U.S. Treasury yields due to inflation concerns, particularly from surging oil prices amid Middle East conflict. Incoming Fed Chair Kevin Warsh faces challenges containing these pressures, as persistent inflation and potential policy shifts could further impact yields and economic growth.

The Economic Times

Sensex falls 160 points, Nifty closes below 23,650 as rupee breaches 96

Indian stock markets ended Friday in the red, with Sensex and Nifty erasing morning gains as the rupee hit a record low against the dollar and oil prices rose. Both benchmark indices registered significant weekly losses, with Sensex falling around 2,000 points and Nifty 50 dropping 2%.

The Economic Times

Global Market: Japan wholesale inflation hits 3-year high amid Iran oil shock

Japan's wholesale inflation surged to its fastest pace in nearly three years in April, driven by rising energy and commodity prices linked to the Iran conflict. This acceleration has intensified expectations that the Bank of Japan may raise interest rates as early as June, with markets pricing in a high…

The Economic Times

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The Economic Times

Petrol Price Hike: The crude shock logic that will make Indians pay a higher price

Petrol Diesel Price Increase: Fuel prices across India have risen by up to Rs 3 per litre. This hike is driven by surging global crude oil prices and tightened energy supplies. State-run fuel retailers had absorbed costs but are now passing them on. The increase reflects higher international crude costs…

The Times of India

‘Xi would also like to see the Hormuz Strait open’: Donald Trump on US-China talks

US President Trump revealed Chinese President Xi Jinping desires the Strait of Hormuz reopened to stabilize global energy markets. Both leaders reportedly agreed on the necessity of this crucial shipping route's resumption. Discussions also touched upon potential increased Chinese purchases of American oil and agricultural products, alongside ongoing tensions regarding…

The Economic Times

HPCL, BPCL and IOC shares slide up to 3% after petrol, diesel price hike

Oil marketing company shares fell on Friday. Petrol and diesel prices saw a modest increase. This hike aims to ease financial pressure on companies. Global crude oil prices remain high due to West Asia conflicts. Prime Minister Modi urged fuel conservation. Oil Minister Hardeep Singh Puri expressed concern over companies…

The Economic Times

Trump says he is losing patience with Iran after talks with China's Xi

Iran war: The U.S. paused its attacks on Iran last month but began a blockade of the country's ports. Talks aimed at ending the conflict have stalled with Iran refusing to end its nuclear program or relinquish its ‌stockpile of enriched uranium.

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The Independent UK

Iran-US war latest: Trump warns Tehran ‘clock is ticking’ after phone call with Netanyahu

A drone strike has sparked a ⁠fire at an electrical generator at the Barakah Nuclear Power Plant in Abu Dhabi

The Economic Times

CNG Price Hike: Natural gas gets costlier by Rs 2 per kg after petrol, diesel rate shock

CNG Price Increase News: Price of CNG has been increased by Rs 2 per kilogram in Mumbai, now costing Rs 84/kg. This follows a Rs 3/litre hike in petrol and diesel prices by Oil Marketing Companies to offset losses from rising global oil rates, which have surged over $120 per…

The Economic Times

Iran war energy shock drives India's interest in ethanol and other biofuels

India and Southeast Asian nations are boosting biofuel use amid global fuel disruptions. This move aims to reduce reliance on imported oil and manage rising costs. However, challenges remain in developing supply chains and ensuring vehicle compatibility. Experts also highlight environmental concerns related to crop-based biofuel production. The shift towards…

The Economic Times

Oil Price Today (May 15): Crude oil above $105 as Iran war resolution stagnates. Where is liquid gold headed?

Oil prices climbed Friday amid fears of ship attacks and seizures, despite Iran's claims of safe passage through the Strait of Hormuz. Traders are also watching US-China trade talks closely. Geopolitical tensions remain high, with disruptions significantly tightening global oil supplies and potentially impacting prices until late 2027.

The Economic Times

Diesel Price Today (May 15): Check new diesel prices in Delhi, Mumbai, Kolkata, Chennai and Bangalore after centre hikes fuel rates

Diesel Price Today (May 15): Fuel prices have seen an immediate Rs 3 per litre hike for petrol and diesel nationwide. Diesel rates in major cities like Delhi, Kolkata, and Mumbai have risen significantly. This comes as oil companies absorb substantial daily losses due to soaring global crude oil prices,…

The Independent UK

Iran war energy shock drives interest in ethanol and other biofuels across hard-hit Asia

Nations across Asia are pushing for the use of more biofuels in transportation in order to slash dependence on imported fossil fuels, which have been disrupted by the Iran war

The Economic Times

Gold heads for weekly loss on oil-driven inflation fears; markets eye Trump-Xi talks

Gold prices dipped to a one-week low, heading for a weekly fall. Rising energy costs are sparking inflation worries and the prospect of sustained high interest rates. Investors are also keenly watching the U.S.-China summit, while the Federal Reserve signals no immediate rate policy changes. Meanwhile, India is set to…

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