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Fitch sees global oil markets returning to oversupply after Hormuz reopens
Global oil markets are set to return to oversupply soon. Fitch Ratings reports the Strait of Hormuz closure is a temporary supply shock. Prices are expected to fall sharply once traffic resumes. The market anticipates a surplus from September. This is driven by West Asian production recovery, strong non-OPEC growth, and potential OPEC output increases.
Kumar Shanker takes charge as IGL MD
Kumar Shanker is the new managing director of Indraprastha Gas. He takes over from Kamal Kishore Chatiwal. Shanker is a chemical engineer with over three decades of experience at GAIL. Previously, he led Maharashtra Natural Gas Ltd. IGL is a joint venture between GAIL and BPCL. The Delhi government also holds a stake in IGL.
Kumar Shanker begins tenure as managing director of Indraprastha Gas
Indraprastha Gas Ltd has appointed Kumar Shanker as managing director, succeeding Kamal Kishore Chatiwal. Details here.
RBI launches forex swap facility for PSU ECBs, bank foreign borrowings
The RBI has introduced a special forex swap facility for PSU overseas borrowings and banks' foreign currency funding, seeking to boost dollar inflows as higher oil prices, rupee weakness and global uncertainty weigh on external balances.
Wall Street rebounds as tech stocks recover despite West Asia tensions
US stocks rebounded as tech shares like Micron and Nvidia rose, despite higher oil on Iran Israel tensions, with investors eyeing US inflation data, Oracle earnings and a SpaceX IPO
Not a luxury many Indians can afford: Nithin Kamath flags deep divide in access to cooling as India warms up
Nithin Kamath pointed out that despite massive strides in national electrification, access to cooling remains heavily concentrated among the wealthy.
US stock markets today (June 8, 2026): AI stocks rebound push Wall Street into recovery mode, oil prices - The Times of India
US stock markets today (June 8, 2026): AI stocks rebound push Wall Street into recovery mode, oil pricesThe Times of India
Markets slide 1% as renewed Iran-Israel tensions lift crude oil prices
Benchmark indices post their steepest decline in over two months as rising crude prices, geopolitical uncertainty and global risk aversion dampen investor sentiment
Rupee gives up inflow-boost gains as oil surge, conflict fears weigh
The rupee fell 0.8 per cent against the dollar as renewed West Asia tensions pushed crude oil higher, while equity weakness and dollar demand added pressure
Cairn, Vedanta Oil & Gas raises output from Hazarigaon gas field in Assam
Cairn Vedanta Oil & Gas has achieved a significant milestone in Assam. The Hazarigaon field recorded its highest gas production. This contributes to India's energy security. The field supports tea gardens, powers CNG buses, and supplies gas to Numaligarh Refinery. The company ensures responsible operations and efficient resource use. This work reflects steady progress in the region.
INR dragged lower by negative cues from equities, surging oil and firm dollar overseas
The Indian rupee lost further momentum during the course of the day and is seen settling the day lower by around 40 paise at Rs 95.57 per dollar. Elevated crude oil prices and firm dollar index around 100 mark are seen pressurizing rupee. Dollar index spiked above 100 for the first time in two months following a strong jobs data on Friday, driving sooner than expected rate hike by Fed but has edged marginally below the level today. Meanwhile, Indian shares fell sharply on Monday, mirroring weak cues from global markets as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year. The BSE Sensex and NSE Nifty 50 settled lower amid weak global cues, escalating tensions in West Asia, and rising crude oil prices. The Sensex dropped 719.08 points (0.97%) to settle at 73,524.26, while the Nifty fell 243.70 points (1.04%) to end the day at 23,123.00. Also, rupee weakened despite the Indian government introducing a ...
Bharat Petroleum to shut crude unit at Mumbai refinery in November
Bharat Petroleum Corporation will undertake maintenance at its Mumbai refinery in November. A 120,000 barrel per day crude unit and other secondary units will be shut down. This maintenance was initially planned for April. Indian refiners have been delaying such shutdowns to meet local fuel demand. The shutdown is expected to last three to four weeks.