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India refiner Nayara's gasoline sold to Russia via traders, sources say
Indian refiner Nayara Energy's gasoline is reportedly reaching Russia, which faces fuel shortages due to Ukrainian attacks. While Indian Oil Minister stated no direct sales, traders might be facilitating these shipments. Nayara, with a stake held by Russian oil major Rosneft, has been processing exclusively Russian crude and relying on traders for fuel exports since EU sanctions complicated its dealings.
Airlines shun Rs 10,000-crore ATF subsidy as fuel prices fall
A Rs 10,000-crore jet fuel price stabilisation programme has failed to attract any airline sign-ups. The scheme, designed to shield carriers from surging fuel costs, lost its appeal as international oil prices declined. Airlines were offered a capped price of Rs 115 per litre, but market-linked rates have since fallen below this, making the voluntary scheme unattractive.
IT rebound, falling crude lift markets; Sensex up 580 pts, Nifty gains 170
IT stocks staged a sharp recovery while lower crude oil prices lifted investor sentiment, helping the Sensex gain 580 points and the Nifty rise 170 points
Why petrol and diesel prices haven't fallen yet? Hardeep Singh Puri hints at rate cut after sustained low crude prices
Fuel prices might see a dip if international crude oil rates stay low for a few more weeks, according to Union Minister Hardeep Puri. Oil companies are currently using crude purchased at higher prices during the West Asia conflict, leading to past losses. However, sustained low global prices could pave the way for a reduction at the pump. India also plans to boost its oil storage capacity.
Airlines Skip Rs 10,000-Crore ATF Price Scheme After Fall In Global Oil Prices
On July 1, ATF prices in fact dropped to Rs 110 per litre from Rs 115 rate that was announced on June 9.
Air India Cuts Fuel Surcharge Up To $125 On International Routes As ATF Prices Ease
The move comes after a sharp moderation in global crude oil prices and ATF prices.
Coal India supply to power sector rises 5.9% in June
Coal India Limited (CIL) reported a significant uptick in coal supplies, particularly to the power sector, during June and the first quarter of the fiscal year. This surge, driven by increased electricity demand, saw CIL deliver 51.44 million tonnes to power plants in June alone.
Stock markets rally for second day; Sensex jumps 579 points on easing crude oil prices, buying in IT - The Hindu
Stock markets rally for second day; Sensex jumps 579 points on easing crude oil prices, buying in ITThe Hindu
India oil minister calls for increased fuel storage capacity - Investing.com
India oil minister calls for increased fuel storage capacityInvesting.com
INR settles on a positive note; Easing oil prices, positive local equities support
The Indian rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices. Rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago. Foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows. The Indian equity benchmarks closed sharply higher, with the BSE Sensex surging 579.48 points (0.75%) to settle at 77,502.12 and the NSE Nifty 50 advancing 169.85 points (0.71%) to end at 24,175.70.
US markets today: Wall Street futures mixed ahead of US jobs data amid deepening tech sell-off
US stock futures traded mixed on Thursday as investors awaited the closely watched June jobs report, which could shape expectations for the Federal Reserve's next interest rate move. Technology stocks remained under pressure following a sharp sell-off in Asian chipmakers, while oil prices fell for a third straight session amid signs of progress in US-Iran talks and improving crude flows through the Strait of Hormuz.
India not exporting fuel directly to Russia, any supplies are trader-led: Puri
India's Oil Minister, Hardeep Singh Puri, has stated that Indian companies are not directly supplying refined fuels to Russia. While reports suggested Moscow was importing gasoline from India to address shortages, Puri clarified that any Indian-origin refined fuel reaching Russia is likely through intermediaries. This distinction aims to address concerns about direct sales to Moscow.