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…
Latest Strategic Reserves News & Updates
Washington, April 15 (IANS) India faces rising risks from global conflict and energy price volatility, but enters the new financial year with a strong macroeconomic position, Chief Economic Advisor V. Anantha Nageswaran said on Wednesday. Speaking at the US-India Economic Forum 2026, Nageswaran said the government’s 6.5 per cent GDP growth forecast may be conservative, but cautioned that “we shouldn’t underestimate or understate the wide range of uncertainty that prevails.”He said …
New Delhi, March 5 (IANS) Rising geopolitical tensions linked to the Iran conflict could significantly increase India’s oil import bill and bring the rupee under pressure, former NITI Aayog CEO Amitabh Kant said on Thursday.In a post on X, Amitabh Kant, who currently serves as a senior adviser to global financial institutions including Fairfax Financial Holdings and Sumitomo Mitsui Banking Corporation, said that every $10 per barrel rise in global crude oil prices could add $13-14 billion to Ind…
New Delhi, Feb 28 (IANS) Oil prices are expected to rise due to the “massive combat operation” launched by the US and Israel on Iran which brings the Strait of Hormuz into the war zone, leading to a disruption in crude exports from the Middle East countries.Over 20 per cent of the world’s oil supply is shipped out of the Strait of Hormuz which links the Persian Gulf with the Gulf of Oman and the Arabian Sea. With heavy missile bombardment and US President Donald Trump announcing that an an…