Iran’s oil revenue soars as others struggle due to Strait of Hormuz crisis; how much is it earning daily?

[ad_1] Iran is benefitting twofold from the sale of oil amid rising prices since the start of the war as it is the only country to transit the Strait of Hormuz. Tehran is estimated to have generated roughly $139 million per day from sales of this key blend so far in March, up from about […]

60 million barrels of Russian crude booked by Indian refiners amid global supply strain

[ad_1] Indian refiners have stepped up purchases of Russian crude as they lock in supplies for the coming month, with around 60 million barrels secured, according to people aware of the developments. The move comes as disruptions linked to the ongoing Middle East conflict continue to affect global oil flows.The cargoes have reportedly been contracted […]

Big oil relief soon? What Trump’s possible ‘unsanctioning’ of Iran crude means for India

[ad_1] If the US were to ‘unsanction’ Iran oil at sea, India would be able to step up procurement. (AI image) Will India get access to Iran crude oil soon? The Donald Trump administration has signalled the possibility of waiving sanctions on floating Iran crude oil to ease the ongoing shock in the global energy […]

30 million barrels in a week! India grabs more Russian crude amid US-Iran war; tankers headed to China make U-turn

[ad_1] Indian refiners have purchased nearly 30 million barrels of Russian crude within a week. (AI image) India is aggressively buying Russian crude oil amidst supply disruptions from Strait of Hormuz caused due to the ongoing US-Iran war and Middle East conflict. In fact, India is buying such huge quantities of Russian crude, that tankers […]

Rupee nears all time low: Currency reaches 92.25 against US dollar as oil prices surpass $100 amid Middle East tensions

[ad_1] Rupee came under sharp pressure in early trade on Monday, slipping close to its record intra-day low as surging crude oil prices and a stronger US dollar weighed on the domestic currency amid escalating tensions in the Middle East. The slide in the rupee followed a sharp spike in global oil prices. Brent crude, […]

Rupee breaches 90-mark for first time: Currency hits all-time low of 90.21 against dollar; FIIs outflow and crude weigh on sentiment

[ad_1] The rupee plunged to a historic low on Wednesday, slipping past the 90-per-dollar threshold for the first time amid foreign fund outflows, firm crude oil prices and uncertainty around the India–US trade deal, according to PTI. The lack of visible RBI intervention through most of the session added to market pressure, forex traders said.At […]