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Oil Prices Surge to 2025 High After US Strikes on Iran; India Monitors Supply Impact
New Delhi, June 23 — Global oil prices soared to their highest levels since January 2025 following US airstrikes on Iran's nuclear facilities and Iran’s threat to close the Strait of Hormuz, a crucial maritime passage that handles nearly 20...
Govt ups windfall tax on crude, ONGC & OIL to take hit
New Delhi, Jan 2 (IANS) The government has raised the windfall tax on crude oil and reduced the tax on diesel and aviation turbine fuel.
The government has hiked the windfall tax on petroleum crude oil to Rs 2,300 ($27.63)...
Gas prices to fall in 2024; Americans likely to save $32bn on fuel: Experts
New York, Dec 28 (IANS) Gas prices across the US are projected to fall in the new year in 2024 for the second successive year resulting in a net saving of about $32 billion on fuel costs for the Americans....
Oil prices rise as OPEC+ cartel nears deal on production cuts
New Delhi, Nov 30 (IANS) Crude oil prices have started firming up again in the international market as the OPEC+ cartel is reported to be on the verge of signing an agreement to cut production by 2 million barrels per...
India cuts crude imports from Russia, buys more from Saudi in Oct
New Delhi, Nov 1 (IANS) India’s crude oil imports from Russia fell by more than 4 pe rcent in October compared to September, according to figures compiled by energy cargo tracker Vortexa.
India imported 1.55 million barrels per day (bpd)...
ONGC, OIL to gain as govt cuts windfall tax on crude oil
New Delhi, Oct 18 (IANS) The central government has reduced the windfall tax on domestic crude oil with effect from October 18 from Rs 12,200 a tonne to Rs 9,050 in its fortnightly review which will benefit upstream oil companies,...
Paints, tyres & aviation stocks to be under pressure from rising crude prices
New Delhi, Oct 16 (IANS) Concerns regarding the spread of the Israel-Hamas conflict have triggered a sharp spike in Brent crude to above $90 and safe-haven buying has pushed gold to above $1900, says V.K. Vijayakumar, the Chief Investment Strategist... 