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India's state oil companies are considering a ₹5-per-litre hike on petrol and diesel as daily losses on fuel sales reach an estimated ₹10 billion ($105 million). No official decision has been announced, but the pressure on OMC balance sheets makes a revision increasingly likely.
India's state-run oil-marketing companies are losing ₹30,000 crore per month on petrol, diesel, and LPG sales, a Union Petroleum Ministry official said. Losses continue despite a government cut in export duties, raising pressure on OMC balance sheets and fuelling speculation over a price revision or direct fiscal
Exxon Mobil and Chevron reported falling earnings after oil shipments were disrupted by a U.S. and Israeli attack on Iran on February 28. Oil prices had been weak for the first two months of the year before spiking sharply after the strike. The duration of the disruption will determine how much the price surge offsets
Phillips 66 (PSX) is positioned to benefit from rising crack spreads, which expand refining margins and lift per-barrel profitability. Wider spreads directly increase operating income for refiners without requiring volume growth, making PSX earnings sensitive to sustained margin levels.
The S&P 500 gained 0.3% to another record close, posting only one daily decline in April and rising more than 7% month-to-date. The Nasdaq logged its longest winning streak since 2017, with ceasefire optimism and ongoing earnings driving broad risk appetite. Energy and real estate led sector gains.
US forces are reportedly preparing to blockade the Strait of Hormuz, the passage for roughly 20% of global oil supply. Equity markets turned mixed as traders priced energy supply disruption risk, with oil-linked sectors diverging sharply from broader indices.
Tag
India's state oil companies are considering a ₹5-per-litre hike on petrol and diesel as daily losses on fuel sales reach an estimated ₹10 billion ($105 million). No official decision has been announced, but the pressure on OMC balance sheets makes a revision increasingly likely.
1mo ago · 2 min · Markets
India's state-run oil-marketing companies are losing ₹30,000 crore per month on petrol, diesel, and LPG sales, a Union Petroleum Ministry official said. Losses continue despite a government cut in export duties, raising pressure on OMC balance sheets and fuelling speculation over a price revision or direct fiscal
1mo ago · 2 min · Markets
Exxon Mobil and Chevron reported falling earnings after oil shipments were disrupted by a U.S. and Israeli attack on Iran on February 28. Oil prices had been weak for the first two months of the year before spiking sharply after the strike. The duration of the disruption will determine how much the price surge offsets
2mo ago · 1 min · Markets
Phillips 66 (PSX) is positioned to benefit from rising crack spreads, which expand refining margins and lift per-barrel profitability. Wider spreads directly increase operating income for refiners without requiring volume growth, making PSX earnings sensitive to sustained margin levels.
2mo ago · 1 min · Markets
The S&P 500 gained 0.3% to another record close, posting only one daily decline in April and rising more than 7% month-to-date. The Nasdaq logged its longest winning streak since 2017, with ceasefire optimism and ongoing earnings driving broad risk appetite. Energy and real estate led sector gains.
2mo ago · 1 min · Markets
US forces are reportedly preparing to blockade the Strait of Hormuz, the passage for roughly 20% of global oil supply. Equity markets turned mixed as traders priced energy supply disruption risk, with oil-linked sectors diverging sharply from broader indices.
2mo ago · 1 min · Global Affairs
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