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Searched Tag: global crude oil prices

Global crude oil prices rise over 4% as US-Iran tension escalates

July 13, 2026, 04:52 PM - 3 min read

Iran claimed the Strait of Hormuz had been closed "until further notice," a statement rejected by the US Central Command (Centcom), which said it had launched further attacks to safeguard freedom of navigation through the strategic waterway.There are heightened concerns over possible disruptions to oil supplies from the Middle East through Strait of Hormuz.

Crude falls to pre-war levels, but petrol, diesel rates unchanged

June 25, 2026, 07:11 PM - 6 min read

Petroleum prices had been raised by ₹7.50 per litre during the recent spike in global oil prices, but state-owned fuel retailers have so far refrained from cutting pump prices, according to industry data

Oil falls more than 5 per cent, world shares gain

March 25, 2026, 07:55 PM - 3 min read

The possibility of a de-escalation of the Iran war and negotiations between the United States and Iran pumped up global markets

Smoke and flames rise at the site of airstrikes on an oil depot in Tehran.

Oil prices soar after Iran names new supreme leader

March 9, 2026, 10:23 PM - 4 min read

Global oil prices jumped sharply as the escalating Iran conflict threatened key energy routes in the Middle East, while Tehran named Mojtaba Khamenei as its new supreme leader, signalling a hardline stance and deepening market fears over supply disruptions.

Crude price surge won’t affect inflation: FM Nirmala Sitharaman

March 9, 2026, 07:33 PM - 4 min read

Responding to a written question in the Lok Sabha, Sitharaman noted that international crude oil prices as well as the Indian crude basket had been declining over the past year until geopolitical tensions erupted in West Asia on February 28, 2026.

Since the outbreak of the Iran war, crude prices have risen more than 50 per cent in just ten days. Analysts warn that further escalation could push prices even higher.

Crude oil prices surge past $100 for first time since 2022

March 9, 2026, 09:05 AM - 2 min read

Brent Crude, the global benchmark, jumped more than 20 per cent on Sunday, briefly crossing $111 per barrel as market panic intensified over the critical chokepoint’s blockade.

Oil price surge exposes a fragile, outdated global supply chain

March 4, 2026, 01:59 PM - 6 min read

The mere possibility that several million barrels per day could be disrupted is enough to push prices up, even before supply is properly hit. This reflects a broader feature of geopolitical risk: expectations and perceptions can be as economically powerful as material disruptions.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, was trading 0.11 per cent higher at 98.73

Rupee falls to 90.22 against US dollar in early trade

January 13, 2026, 10:51 AM - 3 min read

The rupee saw a further decline of 5 paise against the US dollar on Tuesday as higher crude oil prices and outflow of foreign funds led to its weakening

Last week, the US carried out a military operation in Venezuela and deposed President Nicolas Maduro, with Trump saying his country would “run” the South American nation and tap its vast oil reserves to sell to other nations

Dip in global crude oil prices helps rupee rise 18 paise

January 6, 2026, 10:22 AM - 3 min read

However, US President Donald Trump’s remarks on tariffs on India, FII outflows, and sustained weak sentiments at the domestic equity markets capped sharper gains in the rupee, according to forex traders