New Delhi, March 31 (IANS) Gold and silver prices are likely to open higher in Tuesday’s evening session amid hopes of de-escalation in the West Asia conflict.Tracking global cues, spot gold jumped as much as 2.39 per cent to $4,619.14 per ounce as of 11 A.M., while US gold futures for June delivery gained 2 per cent to $4,649.26.Similarly, spot silver advanced 4.82 per cent to $73.48 per ounce, while COMEX silver traded at $73.705, up 4.44 per cent from the previous close.On Monday, MCX gold …
Latest Energy Prices News & Updates
New Delhi, March 26 (IANS): The Organisation for Economic Cooperation and Development (OECD) on Thursday pegged India’s GDP growth rate at 7.6 per cent for 2025-26, 6.1 per cent for 2026-27 and 6.4 per cent for 2027-28, with the country remaining the world’s fastest-growing major economy. The OECD’s interim Economic Outlook report states that conflict in the Middle East is testing the resilience of the global economy. The halt in shipments through the Strait of Hormuz and the closure and dam…
New Delhi, March 24 (IANS) The Indian rupee opened higher against US dollar on Tuesday after US President Donald Trump announced a five-day pause of strikes on Iranian power and energy infrastructure.The domestic currency was trading at Rs 93.64 to the dollar, as compared to the record low of Rs 93.98 to the dollar in the previous trading session.According to analysts, the market has welcomed the five-day pause but not with conviction, and any signs of further de-escalation could pull the USD/IN…
New Delhi, March 21 (IANS) China could move out of deflation but into a harmful form of ‘cost‑driven inflation’ as the Iran war pushes global energy prices higher, a new report has said.Rising oil costs are lifting production costs in China even while domestic demand remains weak, pushing companies into a space where they are unable to raise prices significantly, a report from EU-based Modern Diplomacy said.”Higher energy and raw material costs will likely squeeze profits further. Instead of p…
Washington, March 19 (IANS) Federal Reserve Chair Jerome Powell said the US central bank was keeping interest rates unchanged as it monitored the fallout from higher oil prices and broader uncertainty linked to the conflict in the Middle East. Powell on Wednesday (local time) said the Federal Open Market Committee decided to keep its policy rate unchanged because the current stance remained appropriate. He said the US economy was expanding at “a solid pace”, even as inflation stayed above ta…
Washington, March 14 (IANS) Senior US Senate Democrats have sharply criticised the Trump administration’s decision to pause sanctions on Russian oil, warning the move could enrich Moscow while doing little to ease rising energy costs for Americans. US Senator Mark R. Warner, Vice Chairman of the Senate Select Committee on Intelligence, said the move followed what he described as the economic fallout of the administration’s war with Iran.“Trump’s war of choice with Iran has come with imme…
New Delhi, March 12 (IANS) Global financial services firm Nomura has projected that India’s economy will grow by 7 per cent in fiscal year 2026-27 (FY27), remaining resilient despite rising geopolitical tensions in West Asia and concerns over higher energy prices. However, the brokerage has slightly trimmed its earlier growth estimate while warning that prolonged conflict in the region could put pressure on inflation and the country’s external balance.The report, written by Sonal Varma, Chie…
Strasbourg, March 11 (IANS) European Commission President Ursula von der Leyen said on Wednesday the Middle East conflict has imposed heavy economic costs on Europe, driving up energy prices and adding billions of euros to import bills. “Since the beginning of the conflict, gas prices have risen by 50 per cent and oil prices by 27 per cent,” von der Leyen told the European Parliament in Strasbourg. She said 10 days of war had already cost European taxpayers an extra 3 billion euros (3.48 billion…
New Delhi, March 6 (IANS) Qatar’s Energy Minister Saad al-Kaabi has warned that war in the Middle East continuing for a “few days” could cause Gulf exporters declaring force majeure, halting deliveries, pushing oil to $150 a barrel and natural gas to $40 per MMBtu (Metric Million British Thermal Unit) within weeks.”Everybody that has not called for force majeure we expect will do so in the next few days if this continues. All exporters in the Gulf region will have to call force majeure,” the m…
New Delhi, Jan 26 (IANS) Pakistan’s energy crisis is not the result of a lack of plans, but of persistent disregard for implementation, coordination and market-based principles, a new report has said.The report in Business Recorder says that Pakistan’s circular debt in the energy sector continues to swell and policy fragmentation deepens institutional paralysis.The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has slammed the government’s handling of …