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The Latest Breaking News from Oil

India's fuel price hike among world's lowest outside Gulf nations: BJP

Fuel prices saw a hike of about 90 paise per litre. The BJP stated this increase is among the lowest globally. State-run oil firms absorbed significant losses for 76 days before passing on some costs. Global crude prices surged due to the West Asia conflict. India's fuel price rise remains…

The Economic Times

Oil prices crash today: Why is Brent crude down big?

Oil prices on Tuesday: Brent futures for July were down $1.73, or 1.5 per cent, at $110.37 a barrel, while U.S. West Texas Intermediate crude for June delivery, which expires on Tuesday, slipped 63 cents, or 0.60 per cent, to $108.03.

The Economic Times

Shares steady as oil eases on Trump's Iran comments

European stocks have risen and US futures are flat after President Donald Trump's positive claims about US talks with Iran sent crude prices lower.

AAP

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The $138 bn buffer: India’s most visible export can rescue the rupee

India is considering a policy push to accelerate overseas deployment of skilled workers as part of a broader strategy to support the rupee and strengthen remittance inflows amid rising external pressures, including a widening current account deficit and higher oil prices. According to the report, the Ministry of External Affairs…

The Economic Times

Economic outlook at risk of further deterioration, OECD says

OECD Secretary General Mathias Cormann stated that the ongoing Middle East conflict is worsening global economic risks, exerting downward pressure on growth and upward pressure on inflation. The organization will revise its economic forecasts next month, acknowledging the immediate challenges posed by rising oil prices to finance officials at a…

The Economic Times

Rupee plunges for eighth straight session, breaches 96.60 vs USD on rising crude, US yields

The Indian rupee has reached a historic low against the US dollar. This decline is driven by escalating oil prices due to the Iran conflict and higher US Treasury yields. India's trade deficit is widening, and inflation is accelerating. The nation faces challenges in lowering its current account deficit and…

The Economic Times

Lack of foresight, leadership in BJP: Mallikarjun Kharge attacks PM on oil prices, Adani matter

Congress president Mallikarjun Kharge has strongly criticised Prime Minister Narendra Modi regarding recent fuel price increases. Kharge alleged that the government is burdening common citizens while allegedly giving industrialist Gautam Adani a 'free pass'. He also accused the ruling party of lacking foresight and leadership.

The Economic Times

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Ukrainian mid-range strikes deal double blow to Russia's war effort

Ukraine's growing drone strength is causing significant problems for Russia's war effort. Medium-range drone attacks are disrupting Russian advances and hitting targets deep behind front lines. This strategy is enabling Ukraine to strike Russian air defenses, logistics, and military facilities. The impact is being felt on Russian oil infrastructure and…

The Economic Times

Asian shares trade mixed and Kospi falls 3% as oil prices keep swinging

Asian shares are mixed as uncertainty about what will happen with the Iran war roils global markets

AAP

India says it will continue to buy Russian oil

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The Independent UK

The UAE's image as a Middle Eastern haven is tested by the Iran war

The United Arab Emirates for decades advertised itself as a haven for business in the Middle East

AAP

India’s rising oil imports push trade deficit into risky territory: Crisil

India’s oil trade deficit is expected to widen significantly in FY27 due to rising crude oil prices and weakening petroleum exports, according to a report by Crisil. The report warned that India’s heavy dependence on imported crude could put added pressure on the country’s external finances, with the current account…

The Economic Times

Forget tariffs and the Iran oil shock—a top economist says the Fed is blind to the real inflation threat

"We have an aggregate demand issue, not a supply disruption issue," says William Luther, an associate professor at Florida Atlantic University.

Fortune

High gas prices are just the beginning: How the Iran war is changing the global energy map

The largest global energy-supply shock in history is causing chaos around the world. Here are the winners and losers.

Fortune

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The Economic Times

Oil above $100: How soaring crude prices are hitting India - explained in 10 charts

Geopolitical tensions in the Middle East are significantly impacting India's economy. Rising crude oil prices have led to a Rs 3 per litre fuel hike, eroded investor wealth by over Rs 5.85 lakh crore, and pushed the rupee to an all-time low. Foreign investors are also withdrawing funds, while the…

The Economic Times

Airlines plead with state-run oil majors to postpone jet fuel hikes

Indian airlines are urging state-run oil refiners to postpone jet fuel price increases for domestic flights. This move aims to ease financial pressures and mounting losses for carriers like Air India, IndiGo, and SpiceJet. Discussions are ongoing, with the oil ministry involved. A decision is expected soon. Refiners are currently…

Euronews

Oil prices slip as Trump calls off planned military strike on Iran

Oil prices fell on Tuesday as Donald Trump announced he was calling off a planned military attack on Iran.

The Economic Times

Rupee finds some footing on dollar offers from state-run, foreign banks

The Indian rupee edged higher on Tuesday, recovering from an early dip near an all-time low. Dollar offers from state-run lenders and foreign banks provided support, with traders suspecting central bank intervention. The rupee faces ongoing pressure from a widening trade deficit, subdued capital inflows, and rising oil prices.

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The Times of India

Has Russia lost 10% of its refining capacity? Ukraine launches drones as Moscow attacks Danube port city

Ukraine launched drone strikes on Russian regions, including those housing oil infrastructure, while Russia retaliated with attacks on Ukrainian port facilities. President Zelenskyy highlighted a significant drop in Russia's oil refining capacity due to these actions. Efforts to end the protracted conflict remain stalled, with both sides continuing cross-border strikes…

The Economic Times

India's edible oil imports rise 3% in FY26 on Nepal duty-free surge, industry body says

India's edible oil imports increased by 3 per cent in the last fiscal year owing significant to a boost from duty-free shipments from Nepal. Nepal's edible oil exports to India more than doubled. India relies heavily on foreign supplies for edible oils.

The Independent UK

India vows to keep purchasing Russian oil, US ‘waiver or no waiver’

India’s imports from Russia has hit record levels driven by the disruption of Middle Eastern supplies from the Iran war

The Independent UK

The UAE's economy and image as Mideast haven are tested by war

The United Arab Emirates for decades advertised itself as a haven for business in the Middle East

The Economic Times

Hospitals and LIC Housing are the best bottom-up bets right now, says Varun Saboo

Markets face a tricky situation with rising crude oil, a weakening rupee, and increasing global interest rates. Varun Saboo advises ignoring sector calls and focusing on safe, stock-specific investments. He highlights the hospital sector for its operating leverage and LIC Housing for its structural advantage. Investors should seek businesses with…

France 24

Putin seeks to reinforce China ties after Trump-Xi summit

Russian President Vladimir Putin arrived in Beijing on Tuesday for talks with Chinese leader Xi Jinping, aiming to project unwavering ties between the two powers just days after US President Donald Trump’s high-profile visit sought to steady US-China relations.

The Economic Times

IOC shares jump 3% after Q4 net profit rises 78% YoY. Here's what Motilal Oswal says

IOC shares saw an uptick on Tuesday after the company reported a 78% YoY jump in Q4 FY26 net profit to Rs 14,458 crore. Revenue grew 7% to Rs 2.37 lakh crore. Motilal Oswal maintained a ‘Neutral’ stance, noting strong EBITDA beat, improved margins, debt reduction, and resilience despite Middle…

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