scorecardresearch
Friday, March 29, 2024
TopicOil Prices

Topic: Oil Prices

Oil prices fall as concerns over recession overshadow tightening supply

West Texas Intermediate fell to trade near $111 a barrel after adding around 7% over the previous three sessions.

Worst is yet to come for Indian rupee as oil costs widen deficits, say analysts

The bearish forecasts stem from a deterioration in India’s external finances. Higher oil prices threaten to widen the current-account deficit to at least 3% of the GDP.

Modi govt to allow duty-free import of soybean, sunflower oil, cool surging prices

The government will permit purchases of 2 million tons each of the two vegetable oils per annum this fiscal year and the next, according to a notification by the finance ministry.

Oil heads for longest run of fifth monthly gain since early 2018

West Texas Intermediate futures climbed to trade near $106 a barrel Friday and are almost 6% higher in April.

How rupee affects macroeconomics, domestic competition, and why its fall isn’t all bad news

India’s enormous dependence on oil imports makes the rupee extremely vulnerable. It is currently the worst-performing Asian currency.

You thought petrol, diesel prices would soar after UP polls? This is why they have not

Two days after polling ended, fuel retailers who were widely expected to raise prices have kept them unchanged. Even surge in global crude prices hasn’t made an impact yet.

Investors say cash ‘only safe haven’ in India as markets recoil from oil shock

Rupee is down to a record low, dragging stocks and bonds. And with few signs the commodity boom will end soon, investors are bracing for more possible losses.

Surge in oil prices will test China’s bet to insulate its economy

With oil costs now 40% higher than they were two weeks ago, Chinese businesses are facing a profit squeeze and a fall in global demand for Chinese-made goods.

Oil shock risks becoming ‘nightmare’ for RBI, it could raise inflation forecast

The surge in edible and crude oil prices are bound to feed into headline inflation, which has already breached the upper tolerance limit of RBI's 2-6% target range.

Fuel price shock coming, growth to suffer. Govt should roll back tax hikes for consumers’ sake

Material costs for industry will go up, pandemic recovery will take longer. But question is how long oil prices will stay high, with West avoiding sanctions on Russia’s energy sector.

On Camera

Oka to Nagarathna—Bombay High Court judges taking up the cudgel when faith in courts eroding

When lynching, hate speech and bulldozer politics do not speedily invite the wrath of courts, then something is wrong with the third pillar of governance.

Congress attacks chief economic advisor over statement on unemployment, asks BJP govt to ‘vacate seat’

While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.

Amid plans to lift AFSPA, Army starts joint training with Jammu & Kashmir Police

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.