Indian Oil Corporation (IOC), India’s largest oil company, placed orders for approximately 2 million barrels of US crude in August for October delivery, according to a foreign media report from Singapore, quoted by IANS. This marks part of a series of US oil deals amounting to around 2 million barrels for October delivery, following threats…
The Indian rupee weakened on Wednesday, a day after recording its best session of the year, as crude oil prices stayed elevated despite a ceasefire between Iran and Israel. The domestic currency closed 12 paise lower at 86.09 against the US dollar, after ending at 85.97 on Tuesday. The previous session saw the steepest one-day…
Crude oil futures continued to trade in the green, despite global volatility and some profit booking abroad. July crude oil futures on the Multi Commodity Exchange (MCX) were trading at Rs 6,324 per barrel, up Rs 25 or 0.4 per cent from the previous close. Meanwhile, on the COMEX, US crude contracts hovered at $74.54…
For decades, oil prices would typically shoot up the moment tensions flared in the Middle East, and understandably so. The region supplies about a third of the world’s crude. But in recent years, that link has started to fade. Between 2015 and 2025, oil prices started reacting differently to conflicts. Situations that once caused big…
Rupee strengthened by 19 paise to 85.29 against the US dollar in early trade on Friday on the back of lower crude oil prices and sustained foreign fund inflows. According to forex traders, firm greenback and volatile stock markets capped the rupee’s gain even as market participants stayed cautious ahead of the release of domestic…
Rupee depreciated by 7 paise to 85.45 against the US dollar in early trade on Thursday, tracking a stronger American currency after a US federal court blocked President Donald Trump’s sweeping reciprocal tariff order. The court’s decision raised hopes of reducing global trade uncertainty, supporting dollar strength globally. At the interbank foreign exchange, the domestic…