Page 2 Crude Oil: Latest News and Updates, Top Stories, Videos, Photos About Crude Oil

Govt Reduces Windfall Tax On Crude Oil By Rs 1,300 To Rs 5,000 Per Tonne

Centre on Friday reduced the windfall tax on crude petroleum by Rs 1,300 per tonne to Rs 5,000 per tonne from Rs 6,300 a tonne. The government has also cut the levy on jet fuel to Rs 1.06 lakh per kilo ...

OPEC+ Showdown Looms: Crude Oil Prices Slide As Markets Brace For Supply Talks

Crude oil markets experienced a slip today, as Brent crude inched closer to $80 a barrel amid anticipation surrounding the upcoming meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). Investors are on edge, awaiting a potential ...

The Double-Edged Sword: Indias Dependence on Middle Eastern Oil

India's economy is intricately tied to its energy needs, most of which are met through the import of crude oil. A significant portion of these imports comes from the Middle East, a region that has been historically susceptible to political instability ...

Fitch Warns Rising Crude Oil Prices Could Impact Global Economic Growth

Fitch Ratings has issued a stark warning by predicting that higher-than-expected oil prices, in view of the potential disruptions in oil supply due to an escalation of the Middle East conflict, could considerably impact global economic growth and result in a ...

Israel-Palestine War: Crude Oil Prices Jump, Knee-Jerk Reaction Across All Asset Classes

A sudden attack by Iran-backed Hamas, a Palestinian militant group, killed over 700 in Israel in the past two days sparking geo-political tensions. Crude oil prices shot up and the war is expected to heavily weigh on stock markets globally and ...

Israel-Palestine War: Rupee Gains 4 Paise Against US Dollar As Asian Currencies Decline

Rupee opened stronger against US Dollar on Monday. The home currency gained 4 paise against US Dollar to trade at Rs 83.21 at around 9:10 am today. Earlier on Friday, rupee ended the day at Rs 83.25. Meanwhile, several Asian currencies ...

NSE To Launch Options Contracts On WTI Crude, Natural Gas Futures

The National Stock Exchange (NSE) on Friday said it will launch options on NYMEX WTI Crude Oil and Natural Gas futures contracts in its commodity derivatives segment from October 9. "The exchange has received approval from Sebi (Securities and Exchange Board ...

Oil Prices Hit 10-Month High Amid Tight Supply, China Optimism

Oil prices hit a 10-month high on Friday and posted a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combined with optimism around Chinese demand to lift crude, according to a Reuters report. Brent crude futures soared ...

Windfall Tax Hiked On Sale Of Crude; Export Duty On ATF, Diesel Slashed Amid Rising Oil Prices

The government has hiked the windfall tax rate on domestically produced crude oil to Rs 10,000 per tonne. Earlier, windfall tax stood at Rs 6,700 per tonne. The revised windfall tax has come into effect from Saturday, September 16, 2023, onward. ...

Rupee Declines 9 Paise To Settle At All-Time Low Of 83.21 Against US Dollar

The rupee declined for the fourth straight day and settled 9 paise lower at its lifetime low of 83.21 (provisional) against the US dollar on Thursday amid a strong American currency and soaring crude oil prices. Positive trend in the domestic ...

Oil Prices Rise For Sixth Week In A Row As Global Supplies Tighten

Oil prices rose more than a dollar a barrel on Friday to record a sixth consecutive week of gains, after top producers Saudi Arabia and Russia extended supply cuts through September, adding to undersupply concerns, according to Reuters. Brent crude futures ...

Oil Prices Jump 2% As Saudi Arabia And Russia Restrict Supply

Oil prices gained about 2% on Thursday as Saudi Arabia and Russia took steps to keep supplies tight into September and possibly beyond, reports Reuters. Brent futures rose $1.94, or 2.3%, to settle at $85.14 a barrel, while U.S. West Texas ...

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