New Delhi, July 5 (IANS) The Centre has withdrawn most provisions of the emergency natural gas supply regulation order introduced during the West Asia conflict, citing the resumption of liquefied natural gas (LNG) shipments through the Strait of Hormuz following a ceasefire and an improvement in the regional supply situation.In an official notification, the Ministry of Petroleum and Natural Gas amended the Natural Gas (Supply Regulation) Order, 2026, removing key operational provisions that had …
Latest Crude Oil News & Updates
Washington, July 2 (IANS) President Donald Trump has said the United States had entered a “golden age”, pointing to lower oil prices, record investment and a strong labour market as evidence that the country’s economy was gaining momentum. Speaking at the dedication of the Theodore Roosevelt Presidential Library in Medora, North Dakota, on Wednesday (local time), Trump said falling energy prices would benefit American consumers and businesses.”The oil is dropping,” Trump said. “I don’t give a da…
New Delhi, June 30 (IANS) India’s gross domestic product (GDP) growth in 2026 is expected to touch 7 per cent, up from an earlier estimate of 6.2 per cent in April, a report has said.The report from Bank of America (BofA) Securities pegged India’s growth in 2027 at 7 per cent. Moreover, it has projected international oil benchmark Brent crude will average $72 a barrel in H2 2026 and $65 per bbl in 2027, on the assumption that peace holds in West Asia.Analysts at the global brokerage marginally…
Seoul, June 30 (IANS) The government plans to lower the resource security crisis warning for crude oil by a notch to Level 2, the vice industry minister said on Tuesday, following the stabilisation of global oil prices amid progress in peace talks between the United States and Iran.Vice Industry Minister Moon Shin-hak made the remark during a Cabinet meeting held at the presidential office, adding the alert for natural gas will be fully lifted as well, reports Yonhap news agency.South Korea oper…
New Delhi, June 29 (IANS) The Indian government’s “extraordinary” handling of the global energy crisis in the wake of the West Asia conflict ensured that consumers were protected from the rise in prices and there was no black marketing in fuels as households continued to get LPG, India’s former G20 Sherpa Amitabh Kant said.”I would really appreciate several measures taken by India during this period. This crisis is not of our making. It’s a global crisis. Across all countries of the world, the…
Washington, June 27 (IANS) US Secretary of State Marco Rubio has said the United States wants to play a bigger role in meeting India’s growing energy needs, backing New Delhi’s strategy of diversifying its energy sources while arguing that closer India-US cooperation can strengthen long-term energy security.In an exclusive interview with IANS at the White House, Rubio said Washington was well-positioned to support India’s expanding energy requirements as both countries deepen their strategic par…
New Delhi, June 23 (IANS) Indian airlines are considering withdrawing the fuel surcharge as crude oil prices moderate, which could provide relief to air travellers in the coming months, according to a report.NDTV Profit has reported that airlines are actively evaluating a rollback of the surcharge, with a decision likely by the end of the second quarter or early in the third quarter.The review comes amid a sharp decline in global crude oil from recent highs.While fuel costs have eased considerab…
New Delhi, June 23 (IANS) India’s markets successfully navigated a turbulent quarter of geopolitical shocks, and US-Iran peace deal and oil trading near $70–$80 per barrel will help ease inflation, support the rupee, reduce the import bill, and benefit rate-sensitive and oil-consuming sectors, a report said on Tuesday.The report from smallcase said the key risk remains any breakdown of the peace deal or renewed disruption at the Strait of Hormuz. It could re-spike crude, revive inflation and…
New Delhi, June 22 (IANS) The combined index of India’s eight core infrastructure industries increased by 0.5 per cent during May this year compared to the same month of the previous year, with cement, steel, and electricity recording positive growth, according to data released by the Commerce and Industry Ministry on Monday.Meanwhile, the final growth rate of the eight core industries for April 2026 was revised to 1.8 per cent. The cumulative growth rate of the core industries during April to…
New Delhi, June 22 (IANS) Apex industry body ASSOCHAM on Monday welcomed the agreement reached between the US and Iran in Switzerland to ensure safe commercial shipping through the Strait of Hormuz, saying the development is expected to ease global crude oil prices and deliver significant benefits to the Indian economy.The chamber said the breakthrough — which comes amid heightened geopolitical tensions in the region — could help restore stability to global energy markets and reduce risks asso…