Over $1 billion of Venezuelan oil shipments to China have been rebranded as Brazilian crude by traders, enabling buyers to reduce logistics costs and avoid U.S. sanctions.
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World crude oil price today, May 9, 2025
Brent crude rose 43 cents, or 0.68 percent, to $63.27 a barrel, while U.S. West Texas Intermediate crude rose 42 cents, or 0.7 percent, to $60.33 a barrel.
Indian Oil Corporation confirms adequate fuel and LPG stocks, reassures public not to panic buy, as fuel and LPG are readily available at all outlets.
US energy groups are requesting Trump's administration to exempt liquefied natural gas tankers from a rule requiring producers to increase exports on US-built vessels.
India’s imports of crude oil from the US rose sharply by nearly 34% on a month-on-month basis in April as the country ramped up shipments from America.
World crude oil prices today, May 7, 2025
Brent crude futures rose 1.2 percent to $62.88 a barrel, while U.S. West Texas Intermediate crude rose 81 cents, or 1.4 percent, to $59.90 a barrel.
A joint venture (JV), consisting of Shell (through BGEPIL), Reliance Industries Limited (RIL), and Oil and Natural Gas Corporation (ONGC), has wrapped up work on what is said to be India’s first offshore facilities decommissioning project.
Canadian oil producer Suncor Energy reported first-quarter profit above analysts' expectations on Tuesday, as it benefited from greater refinery production and sales volumes.
U.S. President Donald Trump said Moscow and Kyiv want to settle the war in Ukraine and that Russian President Vladimir Putin was more inclined towards peace after the recent fall in the price of oil.
Saudi Arabia and India agreed to enhance energy cooperation, including Saudi investment in two refineries. However, initial talks have been halted due to Saudi Arabia's disagreements with India over crude supply.
The European Union will on Tuesday announce a roadmap to phase out the bloc's remaining gas ties with Moscow, but in the absence of sanctions it will be difficult for buyers to exit gas contracts using legal options such as force majeure.
India and Angola have decided to expand their energy partnership with New Delhi also offering to share its experience in digital public infrastructure, space tech and capacity building with the African nation.
Russian oil flows to India reached a 9-month high in April due to abundant Moscow crude availability and low prices, allowing non-sanctioned tankers to transport oil without violating international regulations.
Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia's ability to handle lower oil prices.
A potential gas leak incident at Oil India Limited’s (OIL) Well No. 309 in Nagajan village, Lankasi-Kothalguri, Dibrugarh district, caused widespread alarm on Thursday afternoon, reminding locals of the disastrous 2020 Baghjan blowout.
World crude oil price today, May 2, 2025
Brent crude futures rose 49 cents, or 0.8 percent, to $62.62 a barrel, while U.S. West Texas Intermediate crude futures rose 50 cents, or 0.8 percent, to $59.74 a barrel.
Indian Oil Corporation Ltd (IOCL), the country’s largest oil refiner, has entered into a five-year deal with global commodities trader Trafigura for the supply of liquefied natural gas (LNG), according to trade sources and a company statement.
World crude oil prices today, April 30, 2025
Brent crude futures fell $1.13, or 1.8 percent, to $63.12 a barrel. U.S. West Texas Intermediate crude fell $1.11, or 1.8 percent, to $59.31 a barrel.
Abu Dhabi National Oil Company (ADNOC) will start replacing some of the liquefied petroleum gas it supplies to India with cheaper U.S. cargoes from June, industry sources said, as U.S.-China tariffs rejig global trade flows.
India increased purchases of ESPO Blend oil from Russia in April to the highest level since August 2024 amid weaker demand from Chinese companies, according to LSEG and traders' data.