Search For "global oil price"
Ending Iran's nuclear ambitions over oil profits: Trump clarifies on his a
Updated : 2 months, 1 week ago IST
In a post by the White House, President Trump, while acknowledging that the United States is currently the world's leading oil producer and stands to benefit financially from higher crude prices, emphasised that his administration's overriding mission remains the permanent dismantling of
Read More
US-Israeli strike hits industrial area near Tehran; abandoned warehouse am
Updated : 2 months, 1 week ago IST
A US-Israeli attack struck an industrial area in Rabat Karim as regional conflict enters its thirteenth day. While an abandoned warehouse was one of the targets struck, Iran has set three conditions for peace. Meanwhile, the IRGC continues retaliatory strikes against US bases and tankers ami
Read More
Bahrain warns residents to stay indoors after Iranian strike on Muharraq f
Updated : 2 months, 1 week ago IST
Bahrain has advised residents in several areas to "remain in their homes" and "close windows" following a major blaze in Muharraq Governorate. The Ministry described the move as a "precaution against potential effects of smoke" after Al Jazeera reported an Iranian strike on local fuel storag
Read More
US to release 172 million barrels of oil to stabilise markets as Middle Ea
Updated : 2 months, 1 week ago IST
The US will release 172 million barrels of oil "beginning next week" to stabilse markets amid war with Iran. President Trump vowed to "finish the job" despite Tehran's threats to "destroy" the economy. While Trump suggests there is "practically nothing left to target," Israel claims it ha
Read More
Taiwan: Price stabilization measures launched as oil prices surge
Updated : 2 months, 1 week ago IST
Taiwan will not sharply increase its gasoline and natural gas prices despite surging global oil prices triggered by the ongoing Middle East conflict that began with American and Israeli attacks on Iran, Focus Taiwan reported, citing officials.
Read More
"We're waiving certain oil-related sanctions": Trump moves to curb global
Updated : 2 months, 1 week ago IST
US President Donald Trump suggested a temporary waiver of certain oil sanctions to curb soaring energy prices. He noted the US Navy could escort tankers through the Strait of Hormuz if necessary. This follows recent Treasury sanctions on Iran's "shadow fleet" used to fund military program
Read More
"Very small price to pay": Trump says short-term oil spike acceptable amid
Updated : 2 months, 1 week ago IST
Amid surging global oil prices triggered by escalating conflict in West Asia, United States President Donald Trump said the "short-term" spike is worth the cost if it eliminates Tehran's nuclear threat.
Read More
'Permitted India to accept Russian oil to ease temporary gap of oil around
Updated : 2 months, 1 week ago IST
Scott Bessent, the US Treasury Secretary, yet again said that the United States has given India the "permission" to accept Russian oil in the wake of the developing security situation in West Asia.
Read More
"Short-term measures to keep prices down": US Energy Secy on Washington is
Updated : 2 months, 1 week ago IST
US Energy Secretary Chris Wright on Friday said that Washington's decision on issuing a 30-day waiver to India to purchase certain Russian oil supplies is part of "short-term measures" aimed at keeping global oil prices under control amid supply pressures linked to tensions in the Middle
Read More
Direct impact of 10% increase in oil prices estimated to be around almost
Updated : 2 months, 1 week ago IST
A 10 per cent increase in global oil prices is estimated to have a direct impact of approximately 0.7-1 per cent on India's Wholesale Price Index (WPI). According to a report by Bank of Baroda on the Middle East crisis, the overall effect could reach a 1 per cent increase in WPI inflation wh
Read More
Taiwan Airlines to raise fuel surcharges amid soaring oil prices
Updated : 10 months, 3 weeks ago IST
Taiwan's three major airlines, China Airlines, EVA Air, and Starlux Airlines, announced on Friday that they will increase fuel surcharges on all international flights starting July 7, citing rising global oil prices.
Read More
Iran is considering closing the Strait of Hormuz: Reports
Updated : 11 months ago IST
Roughly 20 per cent of global oil and a significant portion of natural gas pass through the Strait. Europe imports oil and liquefied natural gas (LNG) from Gulf states--Saudi Arabia, Qatar, UAE-- much of which travels through the Strait. If Iran blocks it, global oil prices would spike, a
Read More