Crude oil futures fall over 2% to ₹8,396/barrel as Trump signals Iran deal
 

Indian Oil Corporation boosts auto LPG supply 3x amid Bengaluru fuel crisis

Oil Prices Fall Over 10% as Strait of Hormuz Reopens; Wall Street Rallies

US Russian crude waiver expires: What it could mean for India’s oil imports from Russia
The US has allowed the one-month sanctions waiver on buying Russian oil already on the water to expire, and will not be extending it, US Treasury Secretary Scott Bessent said in a press briefing in Washington. Bessent’s comments pertaining to the waiver, which expired on April 11, came close on the heels of the US Department of the Treasury announcing that a similar sanctions waiver issued for Iranian oil won’t be extended beyond its expiration date of April 19.

Rate hike possible if crude sustains above USD 90/per barrel: Union Bank of India Report
The interest rates could see an upward movement if crude oil prices stabilise above USD 90 per barrel, amid rising inflationary pressures driven by global geopolitical tensions highlighted a report by Union Bank of India.The report noted that while the current stance remains a prolonged pause on policy rates, the outlook could change depending on the trajectory of inflation and global commodity prices.

Fuel shift: Auto LPG sales up 62% on PSU pricing edge
Average Auto LPG sale by PSU OMCs in April 2026 (till April 15) rose sharply to around 286 MT/day from 177 MT/day in February, marking a 62% increase, the ministry of petroleum & natural gas said, signalling a significant shift in fuel demand amid the ongoing geopolitical crisis.

BPCL arm to invest $2.8 billion in Brazil's oil and gas exploration project
 

India's crude imports down 21%; Russia tops, Iran gains

Fuel margins plunge deep into red; diesel losses hit Rs 60/litre; petrol at Rs 24/litre
State-run oil marketing companies (OMCs) are incurring steep per-litre losses of around ₹24 on petrol and nearly ₹60 on diesel, as fuel marketing margins have sharply turned negative amid rising global crude prices and elevated tax burdens, according to Kotak Institutional Equities.

India doubles Russian oil imports to €5.8 bn; Russia revenues jump 52% to €713 mn/day
India’s imports of Russian crude oil doubled in March 2026, pushing total purchases of Russian fossil fuels to €5.8 billion, even as Moscow’s export revenues surged 52% month-on-month to €713 million per day — the highest in two years — amid rising prices and sanctions-driven shifts in trade flows.

Crude imports down 35 Pc, petroleum product exports up 5.88 pc In crisis-hit March
Chennai: Amid the West Asia crisis, crude and petroleum product imports were down 35.9 per cent in March. However, exports of petroleum products grew 5.88 per cent in the same month.

As per the data of the Commerce Ministry, the imports of petroleum, crude and products were down to $12 billion in March against $19 billion the same month of last year. The blockade in the Hormuz Strait restricted the shipping of crude in March and this affected the total imports of crude and petroleum in FY26 as it declined 6.37 per cent to $173 billion against $185 billion in FY25.

India shores up oil reserves as US grace period to expire this weekend

Oil prices hit record high in March as refiners try to replace West Asian grades: IEA
The International Energy Agency (IEA) has said that crude oil prices recorded their highest monthly gain in March 2026, with North Sea Dated trading at $130 per barrel, as refiners scramble to replace West Asian grades.

Russian crude oil imports rebound in March as PSU refiners lift record volumes
India’s crude oil imports from Russia surged in March 2026, on a monthly basis, as State-run refiners more than doubled their purchases of the geo-politically sensitive commodity from Moscow.

Crude oil prices at $130 could unsettle growth outlook: S&P Global
 

OMCs losing ₹18/litre on petrol, ₹35 on diesel amid price freeze: Macquarie
 

India eyes price stabilization fund for petrol, diesel, LPG
New Delhi : India is considering creating a financial buffer for petroleum products such as petrol, diesel and LPG (liquefied petroleum gas) to manage supply disruptions and global price volatility, according to two people aware of the development.

India's March crude import bill falls 4%, but up 4x from Russia

Crude shock triggers oil demand drop as IEA flags West Asia war supply crisis

Oil prices ease amid hopes of diplomatic resolution between US, Iran
Tokyo: Oil prices resumed their climb and Asian markets mostly declined Monday as the US military prepared to blockade ships entering or leaving the Strait of Hormuz, where most shipping has been stalled by Iran since the start of the war.

HPCL issues rare tender seeking LPG tanker to load from Russian port
 

Centre hikes export duty on diesel to ₹55.5/l, ATF to ₹42/l; petrol nil
The Government on Saturday sharply increased the export duty on high-speed diesel from ₹21.5 per litre to ₹55.5 per litre and on Aviation Turbine Fuel (ATF) from ₹29.5 per litre to ₹42 per litre, with immediate effect. Export duty on petrol, however, will continue to remain nil.

Shell steps up LNG supplies to India, wins major fertiliser tenders after Gulf disruptions
New Delhi: Global energy major Shell plc has ramped up natural gas supplies to India in the wake of disruptions triggered by the West Asia conflict, leveraging its global liquefied natural gas (LNG) portfolio to capture a larger share of spot and term demand, including key fertiliser sector tenders.

The next energy leap: Replicating ethanol’s success in diesel
For over a decade, India has chased a clean alternative for its diesel economy. Unlike petrol, where ethanol blending is a global success, diesel has remained stubbornly resistant. This is not for lack of trying. Governments worldwide have experimented with biodiesel, mandates, and alternative molecules. Some succeeded. Many did not. India, so far, falls in the latter category. But that may be about to change.

Govt mulls 21% ethanol blending in wake of W. Asia war
 

Oil firms face pressure as Iran-US talks fail, prices seen rising: Experts
 

Bangladesh eyes India route to refine Russian crude amid supply crunch

Crude oil, gas derivative prices to remain high till supply chains normalise, says Ind-Ra
The ceasefire in West Asia could ease supply‑shock fears and the resultant rally in chemical costs, but the lingering uncertainties would keep prices across crude oil and natural gas derivative chains elevated until supply chains normalise, India Ratings and Research (Ind-Ra) said on Friday.

Oil prices set for biggest weekly loss in 10 months after US-Iran ceasefire
Oil prices were poised for their biggest weekly declines since last June but remain elevated near $100 a barrel on concerns over supplies from Saudi Arabia and limited flows through the Strait of Hormuz.

Jio-BP petrol, diesel sales jump 25-30% in March; CEO says no price hike planned
Jio-bp not to raise petrol and diesel prices