Global oil prices could climb sharply in the coming months if disruptions to crude shipments through the strategically vital Strait of Hormuz continue, with Brent crude potentially rising above $120 a barrel by the fourth quarter, according to a Goldman Sachs assessment. The projection comes amid heightened geopolitical tensions in the Middle East and growing...
Cuba experienced another nationwide power outage on Friday, marking the second island-wide blackout within a week and highlighting the worsening condition of the country’s aging electricity infrastructure. The latest collapse left millions of residents without electricity, disrupting transportation, communications, businesses, healthcare services, and everyday life across the Caribbean nation. The repeated breakdown has intensified concerns...
India’s private fuel retail sector witnessed a notable price revision as Nayara Energy, one of the country’s largest private fuel retailers, announced a reduction in retail petrol and diesel prices. The move comes amid shifting global crude oil dynamics and easing concerns over supply disruptions linked to geopolitical developments in West Asia. According to the...
A new intelligence assessment from the United States has raised concerns over Iran’s growing capability to influence maritime traffic through the Strait of Hormuz, one of the world’s most strategically important waterways. According to the report, Tehran now possesses the military resources and operational capacity required to significantly disrupt or even temporarily shut down the...
The global oil market could face severe supply pressures and heightened volatility in the coming months, with the International Energy Agency (IEA) warning that the sector may enter a “red zone” by summer if current trends continue. The caution comes amid growing geopolitical tensions, strong seasonal fuel demand, and concerns over tightening crude supplies that...
The political battle over rising fuel prices intensified on Friday after petrol and diesel rates were increased across the country, triggering a sharp exchange between the ruling BJP and the Opposition Congress. The hike came days after Prime Minister Narendra Modi appealed to citizens to reduce fuel consumption and adopt austerity measures in response to...
In a significant development impacting millions of consumers across the country, petrol and diesel prices have been increased by ₹3 per litre, marking a fresh rise in fuel costs just days after the government urged citizens to reduce fuel consumption and adopt austerity measures. The revised prices, implemented by state-run oil marketing companies, took effect...
Prime Minister Narendra Modi has once again appealed to citizens across the country to adopt responsible economic practices amid rising global instability triggered by the ongoing conflict involving the United States and Iran. Emphasising the need for national preparedness during uncertain times, the Prime Minister called on people to reduce fuel consumption, embrace work-from-home culture...
Prime Minister Narendra Modi has appealed to citizens across the country to adopt a more restrained lifestyle in response to rising global economic uncertainty and escalating energy concerns linked to the ongoing West Asia conflict. Speaking during a public event in Telangana, the Prime Minister called on Indians to reduce dependence on imported resources, conserve...