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Global Oil Demand Is Heading For Its First Drop Since 2020. What's Driving It?
According to the AP report, global oil consumption in May fell by 5.3 million bpd from a year earlier to an average of 97.9 million barrels per day.
Russia's diesel export ban deepens global supply crunch
Russia's diesel export ban has significantly impacted global energy markets. This action exacerbated existing fuel shortages and drove prices higher worldwide. European gasoil futures reached record highs against Brent crude oil. The United States also saw diesel futures jump substantially on Wednesday. These events highlight the interconnectedness of global oil supply chains.
Trump administration, senators advance sanctions bill targeting countries buying Russian oil
US senators and the Trump administration have agreed on updated Russia sanctions legislation. This new bill aims to impose penalties on countries doing business with Russia. Senator Lindsey Graham met with Ukrainian President Volodymyr Zelenskiy in Kyiv on Friday. Zelenskiy underscored the need for increased sanctions pressure on Moscow. The legislation is expected to provide new tools to help end the ongoing conflict.
Oil Ministry plays sunk cost card, mounts fresh E20 defence
Defending its policy, the government warned of the risk of stranding massive investments made in ethanol infrastructure over the past few years. “If, after creating this capacity, we were to arbitrarily revert to E10, what happens to these investments?” the ministry asked.
14 Million Bpd Cut Off: IEA Warns Of Oil Scare As US, Iran Inch Towards Full-Blown War
The IEA said sustained geopolitical tensions could undermine the market's recovery and add freshvolatility to oil prices.
Benchmark indices snap weekly winning streak as oil jitters weigh on mkts
Sensex and Nifty ended the week with marginal losses, snapping a four-week winning streak despite Friday's sharp rebound led by Reliance Industries and IT stocks
Auto Dealers Haven't Received A Single E20 Grievance, Says FADA
The Centre has been steadily raising ethanol blending levels in petrol as part of its strategy to cut crude oil imports.
US stocks today: Market trades flat, heads towards subdued end to week; oil prices stable - The Times of India
US stocks today: Market trades flat, heads towards subdued end to week; oil prices stableThe Times of India
Net equity mutual fund inflows surged 26% to ₹28,973 crore in June
Despite bouts of volatility, the equity market ended June on a positive note, with the Nifty50 gaining 1.4 per cent as easing oil prices and receding tensions in West Asia lifted sentiment
US stock futures little changed as SK Hynix gears up for Wall Street debut
US stock futures traded little changed on Friday after a strong Wall Street session, with investors awaiting SK Hynix's record Nasdaq debut. Markets are also assessing the IEA's forecast of the first annual decline in global oil demand since 2020.
INR settles higher on positive cues from local equities; Weak greenback supports
The Indian rupee rose 14 paise to settle at 95.33 (provisional) against the US dollar on Friday as the greenback weakened but crude oil prices steadied amid intensifying tensions in West Asia. FII outflows and uncertainties over fresh tensions in West Asia weighed on the local unit while positive sentiment in the domestic equity markets provided support. Local shares ended Friday's session on a buoyant note, with firm cues from global markets and TCS' better-than-expected Q1 earnings helping underpin investor sentiment. Fears about a return to full-blow war however subsided after President Donald Trump claimed that Iran wants to "make a deal so badly," but he doesn't know if they're worthy of making a deal. The BSE Sensex climbed 827.57 points (1.08%) to close at 77,569.39, while the NSE Nifty 50 rose 244.10 points (1.02%) to settle at 24,206.90.
Freight woes threaten fresh supply crunch in Manipur as transporters stay away
Transport operators are avoiding Manipur due to high costs and long travel times. Essential goods face shortages as highway conditions worsen significantly. Freight charges have increased substantially, impacting commodity prices. Retail prices for onions, potatoes, and edible oil have risen sharply. Further disruptions risk shortages, especially during the monsoon season.