Saturday, 3 December, 2022
TopicCrude oil prices

Topic: Crude oil prices

Crude oil climbs to near $106, after gaining on doubts over peace talks between Russia-Ukraine

Market has been driven by developments surrounding the war & concerns about lockdowns in China, with a liquidity crunch adding to oil’s volatility, leaving prices vulnerable to big swings.

‘Carve outs’ in Western sanctions give India ‘option’ of meeting energy import needs from Russia

No government-to-government deal has been worked out so far, top-level official sources said. Nearly 85 per cent of India’s crude oil requirement is imported.

Asia could face higher inflation and slower growth amid soaring oil prices

Asia as a net importer is vulnerable to oil price spike due to Russia’s invasion of Ukraine. But with more than 40% global exports stemming from the region, rising prices will ripple globally.

46% Indians likely to cancel summer plans as Ukraine crisis pushes up airfares, survey finds

Conflict has come as a dampener for those who were ready with packed bags after Covid restrictions eased; most are now looking for alternate modes of travel.

Oil soars to highest level since 2008 as Russia’s invasion of Ukraine upends market

Buyers are continuing to avoid Russian crude as they navigate financial sanctions on Russia, and traders are betting prices will keep rising. OPEC+ is still sitting on the sidelines.

Who will solve Ukraine evacuation puzzle, and where IAF should land when bringing students back

The best cartoons of the day, chosen by the editors at ThePrint.

You think inflation is already high? Wait until petrol-diesel prices jump after elections

Consumers in India have enjoyed artificial respite from rising global prices since 4 November — crude has gone up by almost $14 a barrel — and oil companies need to make up for losses.

Oil soars to 7-year high with market bolstered by resilient demand

Oil’s rally poses a challenge for consuming nations and central banks as they try to stave off inflation while supporting global growth.

Oil price paradox: Why Modi govt is alarmed by edible oil prices but not petrol & diesel

Both the heavily imported commodities have witnessed double-digit inflation but one is set to become cheaper. 

Modi govt again urges OPEC+ to boost oil supply as rising fuel prices push inflation

It’s not the first time that India has voiced concern over OPEC’s output policy. In Jan, Oil minister Dharmendra Pradhan said OPEC's policy was 'creating confusion for consuming countries'.

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51 cow universities, old pension scheme, jobs — what RSS affiliates want from 2023 Budget

Welfare schemes and ‘self-reliance’ figure high on Sangh organisations’ wishlists for finance minister Nirmala Sitharaman ahead of the Budget, which she will present on 1 February.

Defence

Indian, American soldier during Yudh Abhyas 2022 | Suraj Singh Bisht | ThePrint

Hand-to-hand combat, memories of ‘Vietnam & dal tadka’ — US soldiers’ takeaways from Yudh Abhyas

Held in Uttarakhand’s Auli, aim of the annual India-US joint exercise, which ended Friday, was to increase interoperability between the 2 armies & allow them to exchange best practices.
Illustration: Soham Sen | ThePrint

Gujarat election is anything but dull. BJP’s political neurosis about AAP is the hidden headline

Gujarat is the only state where Modi is directly in contention. Even if he wins, the team that runs him closest has much to gain.