Oil Archives - National Times

30 Mar

Indian Rupee Hits Record Intra-Day Low of 95.22 Amid Global Volatility

Gurpreet Singh0 CommentsBusiness, IndiaDollar, Forex, Low, Oil, RBI, Rupee

Mumbai (Gurpreet Singh): The Indian rupee plunged to a historic intra-day low of 95.22 against the US dollar on Monday, March 30, 2026, as surging crude oil prices and escalating geopolitical tensions in West Asia continued to batter emerging market currencies. Despite a brief early-morning recovery, the currency's dramatic 160-paise swing during the session underscored the intense pressure on the Indian forex market. The decline follows a volatile Friday session where the rupee had already slumped 89 paise to close at a then-record low of 94.85. The trading day began with a glimmer of hope as the rupee opened at…

19 Mar

Iranian strikes hit world’s largest LNG plant in Qatar, fire erupts at key facility

Rajeev Sharma0 CommentsWorld NewsAttack, Iran, LPG, Oil, Qatar

Rajeev Sharma :- A major energy complex in Qatar that hosts the world’s largest liquefied natural gas (LNG) export facility sustained significant damage as attacks on energy infrastructure intensified across the Persian Gulf. Authorities said Iran fired missiles at Ras Laffan Industrial City late Wednesday, with one striking the site while four others were intercepted. The facility had previously supplied roughly 20% of global LNG before operations were halted earlier this month. Around the same time, Abu Dhabi shut down its Habshan gas facilities after debris from a thwarted strike landed in the area. "A retaliatory attack on Ras Laffan…

17 Mar

LPG Shipments Arrive in Gujarat, Offering Relief Amid Global Oil and Gas Supply Concerns

Gurpreet Singh0 CommentsIndiaArrived, India, LPG, Nanda Devi, Oil, Shops

Rajeev Sharma :- India received a significant boost to its energy supply chain as large consignments of liquefied petroleum gas (LPG) reached the Gujarat coast, easing concerns over shortages triggered by ongoing geopolitical tensions in West Asia. The development comes at a time when disruptions in global oil and gas markets have begun to impact domestic availability, leading to increased pressure on supply systems across several cities. Officials confirmed that an LPG carrier, INS Nanda Devi, docked at Vadinar Port carrying approximately 46,000 metric tonnes of fuel. A day earlier, another vessel, INS Shivalik, had also delivered a similar volume…

12 Mar

Oil Markets Rattle as Brent Crosses $100 Amid Rising Gulf Shipping Attacks

Rajeev Sharma0 CommentsBusiness, Trending, World NewsIran, Israel, Oil

New Delhi (Rajeev Sharma): International oil prices climbed sharply on Thursday as mounting tensions in the Persian Gulf pushed Brent crude above the $100-per-barrel mark, raising fresh concerns about global energy supplies and economic stability. The surge came after reports of intensified Iranian attacks on commercial vessels operating near the Strait of Hormuz, a critical maritime route for global oil transport. Market reaction was swift, with Brent crude recording a jump of more than 9% during early trading hours. Just days earlier, the benchmark had briefly surged close to $120, highlighting the volatility gripping energy markets. Meanwhile, the United States’…

01 Mar

Global Oil Shock: India Braces for $100 Crude as Hormuz Closure Ignites Energy Security Crisis

Gurpreet Singh0 CommentsBusiness, IndiaCrisis, Crude, Energy, Hormuz, India, Iran, Oil

New Delhi (Gurpreet Singh): The Indian economy is facing a critical strategic challenge as global oil prices surged nearly 10 per cent on Sunday, March 1, 2026, following a dramatic military escalation in West Asia. Brent crude jumped toward $80 a barrel in over-the-counter trading after joint US and Israeli strikes on Iranian leadership prompted Tehran to move toward shutting the Strait of Hormuz. This narrow maritime corridor is the primary artery for nearly one-fifth of global oil and gas supplies, and any prolonged blockage threatens to drive prices toward the $100 mark, significantly straining import-dependent nations. The crisis acquired…