Paint prices in India could increase by 2 to 5 per cent in April if crude oil prices continue to remain at current high levels, according to a report by Systematix Research.
The domestic stock markets opened with modest gains on Wednesday as easing crude oil prices supported investor sentiment, even as geopolitical tensions in the Middle East continued to remain in focus.
Samajwadi Party MP Ram Gopal Yadav on Sunday alleged that the Union government is "misleading" the public with respect to the fuel concerns arising out of the disruption of maritime traffic in the Strait of Hormuz as the military escalation in the Middle East enters into the second week.<
The Aam Aadmi Party (AAP) MP has said that the ongoing conflict "poses serious risks" for India's trade, economy and energy security, as crude prices shot up due to uncertainty in maintaining safety over global shipping routes.
In order to stop hoarding and black marketing, the government has increased the minimum waiting period for booking domestic LPG gas cylinder refill to 25 days from the existing 21 days.
The escalating conflict in West Asia and disruption of flows through the Strait of Hormuz could have significant implications for India and the global economy, potentially pushing crude oil prices higher and adding to inflationary pressures, according to Anindya Banerjee, Head of Commodity a
In an interview with ANI, Mishra highlighted that India's heavy reliance on imported "dense energy" makes it a primary target for global price volatility. "Every dollar increase per barrel costs approximately $1.8 billion annually. For instance, a $50 increase in oil prices represents a $90
A research note from UBS has flagged rising risks for India's state-owned oil marketing companies as crude oil market volatility intensifies due to geopolitical tensions in West Asia.
The share markets in the country opened with a bloodbath on Monday as both benchmark indices declined sharply in the opening session amid a huge surge in crude oil prices and heavy selling across global markets.
Asian markets tanked in the opening session on Monday, with Japan's Nikkei and South Korea's KOSPI falling around 7 per cent, after crude oil prices surged sharply amid escalating geopolitical tensions in West Asia.
Brent crude prices surged sharply on Monday, rising by more than 25 per cent to USD 116.5 per barrel, amid the ongoing conflict in West Asia which has made crude prices bullish.