Tag: Oil Prices

India slams attacks on UNIFIL soldiers, does not name Israel

April 2, 2026 admin

MEA spokesperson Randhir Jaiswal briefs on West Asia crisis amid Donald Trump escalation. The Ministry of External Affairs (MEA) on Thursday (April 2, 2026) emphasised the importance of safeguarding UN Peacekeepers while advocating for accountability amid rising tensions in West Asia. “India has been playing an important role in UN Peacekeeping Operations,” said MEA spokesperson…

World

Trump temporarily waives maritime shipping law to ease energy costs

March 18, 2026 admin

U.S. President Donald Trump’s move to issue a 60-day Jones Act waiver would lift a ban on foreign-flagged vessels transporting cargo between U.S. ports over this period. File | Photo Credit: Reuters U.S. President Donald Trump on Wednesday (March 18, 2026) temporarily waived a century-old shipping law to help ease energy costs that have surged…

World

Oil prices fall more than $2 as Iraqi, Kurdish authorities agree to export deal

March 18, 2026 admin

Oil prices fall more than as Iraqi, Kurdish authorities agree to export deal

Representational image only. File | Photo Credit: Getty Images/iStockphoto Oil prices fell more than $2 per barrel on Wednesday (March 18, 2026) to pare some of Tuesday’s (March 17, 2026) sharp gains after the ⁠Iraqi government and Kurdish authorities reached a deal to resume oil exports via Turkiye’s Ceyhan port, providing modest relief to concerns…

World

Trump urges other nations to send ships to secure Strait of Hormuz

March 14, 2026 admin

U.S. President Donald Trump | Photo Credit: AP U.S. President Donald Trump on Saturday (March 14, 2026) urged other nations to send ships to help secure the Strait of Hormuz, the critical chokepoint for global oil supplies disrupted by the West Asia war. Mr. Trump, who has said the United States will soon start escorting…

World

Iran war’s effects already a reality in Europe: EU chief

March 9, 2026 admin

A file image of European Union chief Ursula von der Leyen. | Photo Credit: AP The ripples from war in the Middle East are already being felt in Europe, with rising energy prices and NATO allies targeted, EU chief Ursula von der Leyen said Monday (March 9, 2026). Oil prices soared on Monday (March 9,…

World

Crude Oil Prices Rise After US Shoots Down Iranian Drone In Arabian Sea

February 4, 2026 admin

International crude oil prices rose on Wednesday following the US downing of an Iranian drone near an American aircraft carrier in the Arabian Sea. The incident unsettled energy markets, though President Donald Trump emphasized that diplomatic channels remain open, with the White House confirming US-Iran talks are still scheduled for Friday, as per reports. Brent, the global…

Business

Drill, Baby, Drill: Will Trump’s ‘Emergency’ Plan To Make Oil Cheap Work?

January 28, 2025 admin

US President Donald Trump, on the very first day of assuming office, laid out a sweeping plan to maximise oil and gas production, including declaring a national energy emergency to speed the permitting of projects, rolling back environmental protections, suspending new federal offshore wind leasing proposals pending an environmental and economic review, and withdrawing the…

Nation

Several OPEC+ nations extend oil cuts to boost prices

March 4, 2024 admin

Image used for representative purpose only. | Photo Credit: Reuters Moscow, Riyadh and several other OPEC+ members announced extensions to oil production cuts first announced in 2023 as part of an agreement among oil producers to boost prices following economic uncertainty. The plan to extend cuts to mid-2024 comes on top of previous cuts to…

World

What’s in store for the economy in second half? | Explained

October 28, 2023 admin

Economists feel a prolonged conflict in West Asia could push crude oil prices beyond India’s comfort zone. | Photo Credit: Getty Images/iStockphoto The story so far: The Indian economy, measured in terms of the Gross Domestic Product (GDP) as well as Gross Value-Added (GVA), grew 7.8% between April and June (first quarter or Q1) this…

Business

Israel-Hamas Conflict Sparks Concerns of Oil Price Surge: Impact on India’s Economy Explored

October 9, 2023 admin

Oil pump jack is seen in front of displayed Israeli flag in this illustration taken, October 8, 2023. | Photo Credit: Reuters A protracted Israel-Hamas conflict could spur oil prices beyond India’s comfort zone and even if the government holds retail fuel prices ahead of critical elections, wholesale prices may spike and a higher import…

Business