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G7 to release 100 million barrels of oil reserves through IEA
- The co-ordinated release includes frontloaded diesel supplies to stabilise global energy markets
- Lower crude and diesel prices could ease costs for Indian refiners and fuel retailers
Developing
Clear ×Iran conflict, diplomacy and oil-market risks72Diesel export risks and strategic reserve releases24Diesel sales caps at private fuel retailers10Middle East oil flows recover amid shipping risks7Shipping and fuel disruption around the Strait of Hormuz4Iran war costs and subsidy pressures3Climate and crop prices raise food inflation concerns3Chinese refiners suspend October fuel exports3
G7 agrees to release 100 million barrels of oil and diesel from emergency reserves
- G7 countries agreed to release 100 million barrels of diesel and crude oil
- The release will come from emergency reserves
- More oil supply could ease fuel costs for Indian refiners and oil marketing companies
Europe agrees to release diesel stockpiles, sending oil prices down more than 4%
- European leaders agreed to release some diesel stockpiles on Friday
- Oil prices fell by more than 4%
- Lower oil prices can ease input costs for Indian fuel retailers, refiners and transport companies
Global food prices reach near four-year high in September amid supply disruptions
- The UN FAO said global food prices hit their highest level in nearly four years
- Trade disruptions and adverse weather drove the rise
- Higher food costs may pressure Indian food companies and complicate inflation trends for consumer businesses
In Graphics: How the cost of Iran war piled up
- India paid more for crude oil despite importing less as prices rose
- Higher import costs can pressure Indian oil marketing companies
Hormuz LNG shipments reach post-war high in September, with reports differing on cargo count
- Business Standard and Economic Times report 19 cargoes; Times of India says 19 to 21
- Business Standard says 13 cargoes came from Qatar and six from the UAE
- More LNG flows may ease supply concerns for Indian gas buyers, including Petronet LNG
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UN warns fuel subsidies could exceed $1 trillion as Iran war raises energy costs
- UNDP said subsidies could top $1 trillion in 2026
- Governments have used price caps, subsidies and tax rebates as oil prices climbed
- Higher crude costs pressure Indian fuel retailers and government finances
China fuel export suspension to choke supplies in Asia
- China's oil-product export restrictions have affected importers in Southeast Asia and Australia
- Singapore has seen a significant drop in supplies
- Tighter regional fuel supply could lift costs for Indian oil refiners and fuel consumers
Diesel falls sharply as EU considers releasing 50mn barrels under pressure from Trump
- Diesel prices fell sharply as the EU considers releasing 50mn barrels from reserves
- Trump threatened to ban US fuel exports unless Europe unlocks reserves
- Lower diesel prices could ease fuel costs for Indian refiners and transport companies
Trump plays with a critical lifeline that keeps global economy going
- A potential US diesel export ban could remove about 1.2 million barrels a day from global supply
- Tighter fuel markets could raise costs for Indian refiners and transport companies
US wants European allies to do this 'immediately' to lower diesel prices
- The US urged European allies to release strategic diesel reserves immediately
- Global fuel prices are surging amid supply disruptions linked to the Iran war
- Higher global fuel prices can pressure Indian oil marketing companies
Hormuz crude flows return to pre-war levels, yet oil may still stay at $90–$100 | Here's why
- Hormuz crude shipments averaged 13.5 million barrels per day over seven days, back to pre-war levels
- Oil may still stay at $90–$100, the report said
- Persistently high crude prices could pressure Indian refiners and fuel retailers