The Latest Breaking News from Oil

India's Russian crude binge to continue after Trump waives new sanctions law

With a fresh sanctions waiver from the US, India is poised to sustain its current levels of Russian crude imports, having now surpassed China as the leading importer. The country's strategic embrace of discounted Russian oil has transformed its energy cost framework and prompted a rethink of crude sourcing tactics.…

The Economic Times · Oct 17

500%, 100%, then a waiver: How India escaped Trump's Russia tariff threat

In the beginning it was 500%, then it came down to 100% and then, a waiver. This is how the tariff threat has evolved from an ambitious proposal into a more flexible instrument of policy for Trump and US. For India, the immediate danger has receded. But with US retaining…

The Economic Times · Oct 17

Pacific nations await climate billions, as fossil fuel divide looms over Cop31

Ahead of next month’s United Nations Cop31 climate summit, as a strengthening El Niño drives Pacific sea temperatures towards record levels, more than $5 billion promised to the region remains unpaid. Cop31 co-hosts Turkey and Australia are pushing to speed up the switch to electric transport, heating and industry, but…

Radio France Internationale · Oct 17

Slick diplomacy: Trump’s crude u-turn on Russia sanctions bails out India

Donald Trump issued an executive order reversing sanctions that could have impacted India's oil purchases from Russia. The sanctions were initially implemented due to India's reliance on Russian oil, but the economic situation prompted a change. Trump's decision reflects a shift towards prioritizing affordable energy for American consumers. Indian officials…

The Times of India · Oct 17

Oil prices may ease to $80 per barrel in 2027 as Middle East supply recovers: Goldman Sachs

Goldman Sachs expects Brent crude prices to ease to $80 per barrel in 2027 as Middle Eastern supplies recover and the global oil market moves into a surplus. The bank raised its December 2026 forecast to $90 from $85 per barrel, citing supply recovery and weak demand.

The Economic Times · Oct 17

Brent crude oil prices hit $110 for first time since May as Iran attacks continue, Ukraine eyes Russia energy infra

Brent crude surpassed $110 per barrel as escalating attacks around the Strait of Hormuz and renewed Russia-Ukraine hostilities heightened global supply concerns. WTI also surged, recording weekly gains above 10%. Goldman Sachs warned prices could reach $120 if shipping disruptions worsen, while easing tensions could bring crude towards $80.

The Economic Times · Oct 17

Yemen's Houthis claim responsibility for fresh missile strike on Aden airport

Yemen's Iran-aligned Houthi group claimed responsibility after two missiles struck Aden International Airport on Friday, saying they had targeted a weapons depot as well as a military command headquarters. The Aden Security Department said a Yemenia Airways flight bound for Cairo had been preparing for takeoff when the attack took…

France 24 · Oct 17

Trump’s 100% Russian oil tariff U-turn has a catch India can’t ignore

GTRI has warned that Donald Trump’s waiver of threatened 100% tariffs on Russian oil buyers offers India only temporary relief, as Washington can reinstate the duties at any time. The think tank cited US purchases of Russian diesel, tariff protection for China and ongoing India-US trade talks as possible reasons…

The Economic Times · Oct 17

Import of GM soybeans into India should not be allowed at all, say processors

Processors across India are urging the government to impose a ban on the import of genetically modified soybeans from abroad. They argue that such imports could harm local farmers and make the economy overly dependent on foreign sources.

The Economic Times · Oct 17

How to Host Two Weeks of Festival Guests in an Indian Flat Without Chaos

Map the flat before anyone arrivesMeasure what you actually have, not what you think you have. Walk through every room and write down its function, its sleeping capacity with a mattress on the floor, and the one thing that cannot move. The kitchen counter where you prep food is not…

Times Life · Oct 17