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All sectoral indices ended in the green, with IT, oil gas, auto, bank, metal and realty indices rising 2-3 percent, while capital goods, FMCG, and power gained a percent each. BSE midcap and smallcap indices also added over 1 percent each

The International Energy Agency cut its world oil demand forecast for 2022 yesterday, warning that sanctions against Russia over its invasion of Ukraine could spark a global supply “shock”. “Faced with what could turn into the biggest supply crisis in decades, global energy markets are at a crossroads,” the IEA said in a monthly report. “While it is still too early to know how events will unfold, the crisis may result in lasting changes to energy markets,” said the Paris-based agency, which advises developed countries. Russia, the world’s biggest exporter of oil, has been hit with a slew of international sanctions over the war in Ukraine, which sent oil prices soaring. While the measures exclude the energy market, the IEA said major oil companies, trading houses, shipping firms and banks have “backed away from doing business with the country”. The United States and Britain have announced their own bans on Russian oil imports. “The implications of a potential loss of Russian oil exports to global markets cannot be understated,” the IEA said.

Following the announcement that Equinor has started the process to exit its projects in Russia, the company is also stopping trading in Russian oil.

Russia’s invasion of Ukraine and Western sanctions on its oil exports threaten a supply shock that will tighten energy markets even further unless major producers increase output, the International Energy Agency said.

Russia’s invasion of Ukraine and Western sanctions on its oil exports threaten a supply shock that will tighten energy markets even further unless major producers increase output, the International Energy Agency said.

Cleanfuel on Wednesday afternoon started implementing a price rollback on diesel. From March 16 to 18, the oil…

According to the latest Petroleum Ministry data, crude oil (Indian Basket) was $110.30 per barrel on March 14, 2022, at an Exchange Rate (Rs/$) of 76.61.The Indian basket crude price averaged…

Global oil demand growth in 2022 will be 35% lower than previously forecast as surging prices triggered a reduction in the outlook for economic growth.

The govt proposed a four-day work week to reduce costs for businesses and workers, a move done in past oil shock

Russia’s oil output may slump by about a quarter next month, inflicting the biggest supply shock in decades as buyers shun the nation’s exports following its invasion of Ukraine, the International Energy Agency said.

India taking up Russia''s offer of discounted crude oil would not be a violation of American sanctions, the White House has said. "Our message to any country continues to be that abide by the sanctions that we have put in place and recommended," White House Press Secretary Jen Psaki told reporters at her daily news conference on Tuesday.

There is a disconnect between tearful rhetoric about Ukraine and sacrifices this might require

49 Republican Senators Will Oppose Iran Nuclear Deal Authored by Jason Ditz via AntiWar.com, In a sign that getting the P5+1 nuclear deal with Iran through Congress might be difficult, if not impossible, 49 out of 50 Republican Senators have announced they will not back any deal that doesn’t limit Iran’s missile program and "confront Iran’s support for terrorism." The deal isn’t intended to cover those issues, merely Iran’s civilian nuclear program. The terms are not public, but its not expected to touch on either issue. Sen. Rand Paul (R-KY) was the only senator to not come out opposed . Sen. James Risch (R-ID) speaks during a March 9 Senate Republican news conference, Getty Images. Sen. Paul said it didn’t make sense to condemn an unfinished deal , saying it is "not a very thoughtful position." It is unclear where Senate Democrats will fall on the deal. Either way, reports noted that the nuclear deal survived Congress in 2015 despite overwhelming Republican objection and their control of the Senate.

India Business News: NEW DELHI: India is close to clinching a deal with Russia for buying 3.