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Market move● Neutral for Indian equities
Refined product supply, not crude, is the key oil market challenge: Matrix Global CEO
The brief
- Matrix Global CEO Richard Redoglia said refined-product supply, rather than crude, is the key oil-market challenge
- A US diesel export ban could lower domestic prices while lifting refined-product prices overseas
- Refining-margin shifts may affect Indian refiners and oil-marketing companies
- Nifty slides to six-month low as US-Iran deal hopes fade, oil tops $100 a barrel
- Indian refiners buy costly West Asian barrels as Russian supply narrows
- Brent Stays Elevated Even As Saudi Arabia's East-West Pipeline Resumes Oil Exports
- Oil prices fall after Iran asks U.S. to return to failed memorandum of understanding from June
- Replacing 1 million bpd of Russian oil could cost India up to $3.7 billion annually