Washington: In a major blow to Russia, China has temporarily halted imports of Russian crude oil, following India’s decision to do the same, after the United States imposed sanctions on Russian oil companies. Reports indicate that China’s leading state-owned firms — Sinopec, PetroChina, CNOOC, and Shenhua Oil — have suspended their crude oil contracts with Read More…
Moscow: Amidst continuing retaliatory measures from the United States, Russia has extended a major offer to India by reducing the price of crude oil. The price per barrel will be lowered by up to four dollars. According to reports, India will purchase three hundred thousand barrels of crude oil daily this month. This move by Read More…
New Delhi: Rising tensions between Iran and Israel have triggered a sharp spike in global crude oil prices, sending Brent crude — India’s key oil benchmark — surging past $75 per barrel. The 1.24% uptick from the previous day’s close reflects growing concerns over supply disruptions in the region. The escalation began after Israel’s airstrike Read More…