Day: April 14, 2022

The price of diesel is set to cross Rs200 per litre for the first time in history on the back of soaring crude oil prices in the global market and sharp depreciation of the rupee against theUS dollar. In the second fortnight of current month starting April 16, the newly formed government would be required to either jack up the price of diesel by Rs60.54 per litre or enhance subsidy to maintain the existing price, officials said. If the leadership chooses to increase the price, the per-litre diesel cost will…

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Processors in the South Asian nation recently bought millions of barrels of Urals crude via open tenders, with some supplies going at a premium of $1 a barrel to London’s Dated Brent benchmark on a delivered basis, said traders. That compares with discounts of more than $30 a barrel for the same grade in Europe. Officials at the Indian refineries said they don’t understand why they’re not receiving offers of discounts anywhere near what they’re seeing in Europe when they’ve been vocally supportive of continuing to import Russian crude. The…

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Like the first sparrow of spring, Iraq’s reversal of all promises made to the U.S. in order to secure another waiver to import electricity and gas from still-sanctioned Iran is a regular and much-anticipated feature of the oil year for seasoned market watchers. This year has been no different. Some have interpreted the 120-day waiver, which is the equal longest granted to Iraq in years, as a tangential good-faith gesture to Iran by the U.S. as they attempt to agree on a new iteration of the Joint Comprehensive Plan of…

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