Mumbai, May 15 (IANS) Veteran actress and politician Hema Malini has lauded Prime Minister Narendra Modi’s message to the nation with regards to consumption of oil, gold and other resources. The actress spoke with the media, and urged citizens to switch to electric vehicles from internal combustion engines.She told the media, “The Prime Minister has given such a good message. He has given seven pieces of information. First of all, don’t buy gold jewellery. Because there may be a problem in t…
Latest Global oil trade News & Updates
Beijing, April 24 (IANS) The Chinese Foreign Ministry on Friday denied allegations made by US President Donald Trump that an Iranian cargo ship intercepted by the US might have carried a “gift” from Beijing. When asked about Trump’s remarks during a regular press briefing in Beijing on Friday, Chinese Foreign Ministry spokesperson Guo Jiakun said, “China rejects any assertion and speculation that lack factual evidence. Normal trade between countries should not be disrupted or harmed.”China’s…
New Delhi, April 23 (IANS) Indian oil marketing companies (OMCs) have begun relying on their commercial crude inventories as supply chains tighten following the closure of the Strait of Hormuz amid escalating geopolitical tensions in West Asia, according to a report on Thursday.The disruption linked to the ongoing US-Israel conflict involving Iran has constrained supplies from the Gulf region, while sharply increasing freight charges, insurance premiums and transit durations, NDTV Profit reporte…
Washington, April 6 (IANS) Global energy markets and supply chains are coming under pressure as tensions over Iran and the Strait of Hormuz escalate, with oil prices rising sharply and fears mounting over disruptions to one of the world’s most critical shipping routes.Oil prices climbed after US President Donald Trump threatened strikes on Iranian energy infrastructure if Tehran does not reopen the Strait of Hormuz, according to CNN.“Oil prices pushed higher Sunday after President Donald Tru…
Washington, March 8 (IANS) US President Donald Trump said he was not concerned about rising fuel prices despite the ongoing war with Iran, arguing that global oil markets have enough supply and that any price spike would be temporary.Speaking to reporters during a press gaggle aboard Air Force One, Trump described the conflict as a short-term operation and dismissed worries about its economic impact. “No, I’m not worried about gas prices right now,” Trump said.He characterised the military…
New Delhi, March 4 (IANS) Safe‑haven currencies, from the dollar to the yen and gold, are expected to rally and equity sentiment could worsen due to supply chain disruption amid escalation of the US-Iran war, a report said on Wednesday.The report from DBS Bank said spreads of sovereign and corporate bonds could widen as investors while the monetary policy will stay put in the near term. Taimur Baig, Chief Economist, DBS Bank, warned that despite the Iranian Navy’s warships posing minimal thr…